Sonic Automotive, Inc.SAH registered adjusted earnings per share of 43 cents in third-quarter 2018, beating the Zacks Consensus Estimate of 40 cents. The bottom line was 40 cents per share in third-quarter 2017.
Total revenues in the reported quarter were $2.47 billion, down from the prior-year quarter figure of $2.51 billion. Further, revenues missed the Zacks Consensus Estimate of $2.59 billion.
During the reported quarter, revenues from the total new-vehicle sales decreased 9.3% year over year to $1.24 billion. Revenues from used vehicles rose 13.1% to $746 million. Wholesale vehicle revenues rose 12.7% to $48.6 million. Revenues from parts, services and collision repair decreased 1.3% to $343.1 million while finance, insurance, and other revenues rose 5.6% to $98.1 million.
In third-quarter 2018, gross profit decreased to $360.5 million from $362.6 million recorded a year ago. Selling, general and administrative expenses increased to $289 million from $284 million in the year-ago quarter. The company reported operating income of $48.1 million compared with $55.8 million in the year-ago quarter.
In third-quarter 2018, EchoPark stores retailed 7,698 units, up considerably on a year-over-year basis.
Sonic Automotive, Inc. Price, Consensus and EPS Surprise
Dividend & Share Repurchase
The board of directors at Sonic Automotive announced a quarterly dividend of 6 cents per share. The dividend will be paid on Dec 14, 2018, to shareholders of record as of Jan 15, 2019.
Zacks Rank & Other Stocks to Consider
Currently, Sonic Automotive has a Zacks Rank #2 (Buy).
A few other top-ranked stocks in the auto space are Allison Transmission Holdings, Inc. ALSN , Advance Auto Parts, Inc. AAP and AutoZone, Inc. AZO , each carrying a Zacks Rank #2. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .
Allison Transmission has an expected long-term growth rate of 10%. Over the past six months, shares of the company have surged 12.8%.
Advance Auto Parts has an expected long-term growth rate of 12.3%. Over the past six months, shares of the company have risen 40.3%.
AutoZone has an expected long-term growth rate of 12.2%. Over the past two years, shares of the company have risen 17.8%.
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