(RTTNews) - Sonic Automotive Inc. (SAH) reported that its net income from continuing operations for the third quarter of 2019 rose to $29.2 million, or $0.66 per share from $15.3 million, or $0.36 per share in the the third quarter of 2018.
Results reported for the third quarter of 2018 include pre-tax charges totaling $3.1 million related to storm damage, executive transition costs and charges related to the disposal of franchises.
Total revenues for the quarter grew to $2.70 billion from $2.47 billion last year.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.55 per share and revenues of $2.58 billion. Analysts' estimates typically exclude special items.
Sonic's Board of Directors approved a quarterly cash dividend of $0.10 per share payable on January 15, 2020 to all stockholders of record on December 13, 2019.