Sonic Reports 4Q Increase Featured

By Staff Writer February 19, 2020

Sonic Automotive, Inc. reported consolidated total revenues were $2.7 billion, up 7 percent compared to the fourth quarter of 2018.

EchoPark segment revenues were $308.6 million for the fourth quarter, a 52 percent increase from the fourth quarter of 2018. Franchised dealerships segment revenues were $2.4 billion for the fourth quarter, up 3 percent from the fourth quarter of 2018, despite the disposal of 10 franchised dealerships in 2019 which generated revenues of $165.7 million during the fourth quarter of 2018.

Net income from continuing operations for the fourth quarter was $46.3 million, or $1.04 per diluted share. Comparatively, net income from continuing operations for the fourth quarter of 2018 was $22.0 million, or $0.51 per diluted share.

“Our 2019 performance was exceptional, with record-breaking consolidated total revenues and earnings per diluted share from continuing operations,” said David Smith, Sonic’s and EchoPark’s chief executive officer.

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Last modified on Monday, 24 February 2020 15:51

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