Car dealership success celebration.
Charlotte, N.C. based company, Sonic Automotive Inc. (SAH), has released its first-quarter earnings report, showcasing impressive financial results.
The company reported a net income of $42 million for the first quarter, translating to $1.20 per share. Even after adjusting for one-time gains and costs, Sonic Automotive’s earnings stood strong at $1.36 per share, surpassing the expectations of Wall Street analysts.
While the revenue for the period totaled $3.38 billion, it fell slightly short of the Street forecast of $3.4 billion.
Five analysts surveyed by Zacks Investment Research had estimated earnings of $1.23 per share, indicating that Sonic Automotive exceeded the anticipated earnings.
Sonic Automotive Inc. is a well-known auto dealer headquartered in Charlotte, North Carolina. The company operates numerous dealerships across the United States and is recognized for its strong performance in the automotive industry.
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