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Sonic Q4 Earnings Surpass Expectations, Revenues Rise Y/Y
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Sonic Automotive, Inc. (SAH - Free Report) posted fourth-quarter 2024 adjusted earnings per share of $1.51, which topped the Zacks Consensus Estimate of $1.46 but declined 7% from the year-ago quarter. Total revenues amounted to $3.90 billion, which surpassed the Zacks Consensus Estimate of $3.61 billion and rose from the year-ago quarter’s $3.59 billion.
On a consolidated basis, revenues from the sales of new vehicles, used vehicles and wholesale vehicles totaled $1.96 billion (up 15% year over year), $1.2 billion (down 2% year over year) and $71.3 million (up 14% year over year), respectively. Revenues from Parts, Service and Collison Repair were up 10% to $476.7 million. Finance, Insurance and other revenues rose 15% year over year to $190.6 million. Total gross profit increased 6% to $574 million.
In the Franchised Dealerships segment, revenues from the sales of new vehicles, used vehicles and wholesale vehicles totaled $1.94 billion (up 15% year over year), $757 million (up 4% year over year) and $49.8 million (up 27% year over year), respectively. Revenues from Parts, Service and Collison Repair increased 10% to $469.7 million. Finance, Insurance and other revenues increased 14% to $140.5 million. Same-store revenues from the Franchised Dealership segment increased 12% to roughly $3.34 billion. Same-store retail units of new and used vehicles came in at 57,614, up 9% from the corresponding quarter of 2023.
The EchoPark segment reported quarterly revenues of $506.2 million, marking a 9% decrease from the year-ago figure. Revenues comprised $436 million (down 11%) from used vehicle sales, $21.4 million from wholesale vehicle sales (down 5%) and $48.8 million (up 18%) from Finance, Insurance and Other. Its stores sold 16,674 and 2,752 used and wholesale vehicle units, down 5% and up 5%, respectively, on a year-over-year basis. Same-store revenues from the EchoPark segment remained unchanged at $506.7 million. Same-store retail units of used and wholesale vehicles came in at 16,674 and 2,752, up 4% and 16%, respectively, on a year-over-year basis.
In the Powersports segment, revenues from the sale of new vehicles, used vehicles and wholesale vehicles totaled $17.5 million (up 9% year over year), $4.7 million (up 96% year over year) and $0.1 million (down 86% year over year), respectively. Revenues from Parts, Service and Collison Repair rose 4% to $7 million. Finance, Insurance and other revenues came in at $1.3 million. Same-store revenues from the Powersports segment were up 6% to $28.7 million. Same-store retail units of new and used vehicles came in at 1,374 units, up 11% on a year-over-year basis.
Financials
In the fourth quarter, selling, general and administrative expenses increased 3% year over year to $399.6 million.
Sonic declared a quarterly cash dividend of 35 cents, which will be paid out on April 15, 2025, to stockholders of record as of March 14, 2024.
The Zacks Consensus Estimate for GELYY’s fiscal 2025 sales and earnings indicates year-over-year growth of 66.62% and 149.31%, respectively. EPS estimates for fiscal 2025 and 2026 have improved by 15 cents and 38 cents, respectively, in the past 60 days.
The Zacks Consensus Estimate for DAN’s 2025 earnings implies year-over-year growth of 79.17%. EPS estimates for 2025 have improved by 20 cents in the past 30 days.
The Zacks Consensus Estimate for GTX’s 2025 sales and earnings indicates year-over-year growth of 2.16% and 17.92%, respectively. EPS estimates for 2025 have improved by a penny in the past 30 days.
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Sonic Q4 Earnings Surpass Expectations, Revenues Rise Y/Y
Sonic Automotive, Inc. (SAH - Free Report) posted fourth-quarter 2024 adjusted earnings per share of $1.51, which topped the Zacks Consensus Estimate of $1.46 but declined 7% from the year-ago quarter. Total revenues amounted to $3.90 billion, which surpassed the Zacks Consensus Estimate of $3.61 billion and rose from the year-ago quarter’s $3.59 billion.
See the Zacks Earnings Calendar to stay ahead of market-making news.
Sonic Automotive, Inc. Price, Consensus and EPS Surprise
Sonic Automotive, Inc. price-consensus-eps-surprise-chart | Sonic Automotive, Inc. Quote
Quarter in Detail
On a consolidated basis, revenues from the sales of new vehicles, used vehicles and wholesale vehicles totaled $1.96 billion (up 15% year over year), $1.2 billion (down 2% year over year) and $71.3 million (up 14% year over year), respectively. Revenues from Parts, Service and Collison Repair were up 10% to $476.7 million. Finance, Insurance and other revenues rose 15% year over year to $190.6 million. Total gross profit increased 6% to $574 million.
In the Franchised Dealerships segment, revenues from the sales of new vehicles, used vehicles and wholesale vehicles totaled $1.94 billion (up 15% year over year), $757 million (up 4% year over year) and $49.8 million (up 27% year over year), respectively. Revenues from Parts, Service and Collison Repair increased 10% to $469.7 million. Finance, Insurance and other revenues increased 14% to $140.5 million. Same-store revenues from the Franchised Dealership segment increased 12% to roughly $3.34 billion. Same-store retail units of new and used vehicles came in at 57,614, up 9% from the corresponding quarter of 2023.
The EchoPark segment reported quarterly revenues of $506.2 million, marking a 9% decrease from the year-ago figure. Revenues comprised $436 million (down 11%) from used vehicle sales, $21.4 million from wholesale vehicle sales (down 5%) and $48.8 million (up 18%) from Finance, Insurance and Other. Its stores sold 16,674 and 2,752 used and wholesale vehicle units, down 5% and up 5%, respectively, on a year-over-year basis. Same-store revenues from the EchoPark segment remained unchanged at $506.7 million. Same-store retail units of used and wholesale vehicles came in at 16,674 and 2,752, up 4% and 16%, respectively, on a year-over-year basis.
In the Powersports segment, revenues from the sale of new vehicles, used vehicles and wholesale vehicles totaled $17.5 million (up 9% year over year), $4.7 million (up 96% year over year) and $0.1 million (down 86% year over year), respectively. Revenues from Parts, Service and Collison Repair rose 4% to $7 million. Finance, Insurance and other revenues came in at $1.3 million. Same-store revenues from the Powersports segment were up 6% to $28.7 million. Same-store retail units of new and used vehicles came in at 1,374 units, up 11% on a year-over-year basis.
Financials
In the fourth quarter, selling, general and administrative expenses increased 3% year over year to $399.6 million.
Sonic declared a quarterly cash dividend of 35 cents, which will be paid out on April 15, 2025, to stockholders of record as of March 14, 2024.
SAH’s Zacks Rank & Key Picks
Sonic carries a Zacks Rank #3 (Hold) at present.
Some better-ranked stocks in the auto space are Geely Automobile Holdings Limited (GELYY - Free Report) , Dana Incorporated (DAN - Free Report) and Garrett Motion Inc. (GTX - Free Report) . While GELYY sports a Zacks Rank #1 (Strong Buy), DAN & GTX carry a Zacks Rank #2 (Buy) each at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for GELYY’s fiscal 2025 sales and earnings indicates year-over-year growth of 66.62% and 149.31%, respectively. EPS estimates for fiscal 2025 and 2026 have improved by 15 cents and 38 cents, respectively, in the past 60 days.
The Zacks Consensus Estimate for DAN’s 2025 earnings implies year-over-year growth of 79.17%. EPS estimates for 2025 have improved by 20 cents in the past 30 days.
The Zacks Consensus Estimate for GTX’s 2025 sales and earnings indicates year-over-year growth of 2.16% and 17.92%, respectively. EPS estimates for 2025 have improved by a penny in the past 30 days.