Sonic Automotive Q4 Results Miss Estimates

(RTTNews) - Automotive retailer Sonic Automotive, Inc. (SAH) reported Wednesday net income for the fourth quarter of $38.7 million or $1.11 per share, compared to a net loss of $190.90 million or $5.22 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter were $1.63 per share, compared to $2.61 per share in the year-ago quarter.

On average, seven analysts polled by Thomson Reuters expected the company to report earnings of $1.87 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenue for the quarter edged down to $3.58 billion from $3.59 billion in the same quarter last year. Analysts expected revenues of $3.62 billion for the quarter

Sonic's Board of Directors approved a quarterly cash dividend of $0.30 per share, payable on April 15, 2024 to all stockholders of record on March 15, 2024.

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