2024-04-29 17:31:49 ET
Summary
- The better-than-expected operating profitability of Sonic Automotive's pre-owned vehicle business (EchoPark) was the main factor contributing to the company's +4.8% Q1 earnings beat.
- SAH has decreased its total shares outstanding by a fifth in the last four years with its active share buybacks.
- Sonic Automotive is awarded a Buy rating considering EchoPark's growth prospects and SAH's potential shareholder capital return.
Elevator Pitch
I have a Buy rating for Sonic Automotive ( SAH ) stock.
I previously wrote about the company's near-term prospects and capital allocation in my Nov. 14, 2023 update . This article evaluates the growth runway for SAH's pre-owned vehicle business (EchoPark) and the expectations for its future share buybacks....
Read the full article on Seeking Alpha
For further details see:
Sonic Automotive: Focus On Pre-Owned Vehicle Business And Share Repurchases