Sonic Automotive: Q4 Earnings Snapshot
By AP News
Published - Feb 14, 2024, 07:06 AM ET
Last Updated - Feb 14, 2024, 07:06 AM EST
CHARLOTTE, N.C. (AP) — CHARLOTTE, N.C. (AP) — Sonic Automotive Inc. (SAH) on Wednesday reported fourth-quarter profit of $38.7 million.
The Charlotte, North Carolina-based company said it had net income of $1.11 per share. Earnings, adjusted for asset impairment costs and pretax expenses, came to $1.63 per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.80 per share.
The auto dealer posted revenue of $3.58 billion in the period, matching Street forecasts.
