- Sonic Automotive press release ( NYSE: SAH ): Q3 GAAP EPS of $2.23 misses by $0.17 .
- Revenue of $3.44B (+12.1% Y/Y) misses by $230M .
- Selling, general and administrative (“SG&A”) expenses as a percentage of gross profit of 68.7% (62.4% on a Franchised Dealerships Segment basis, an increase of 220 basis points year-over-year)
- Record third quarter total Finance & Insurance (“F&I”) gross profit per retail unit of $2,477, up 5% year-over-year
- EchoPark revenues of $607.8 million, down 8% year-over-year; record third quarter EchoPark gross profit of $48.6 million, up 88% year-over-year
- During the third quarter of 2022, Sonic repurchased approximately 3.1 million shares of its Class A Common Stock (or 8% of total Class A and Class B shares outstanding as of June 30, 2022) for an aggregate purchase price of approximately $151.5 million, resulting in $481.0 million of remaining share repurchase authorization
- During the nine months ended September 30, 2022, Sonic repurchased approximately 5.2 million shares of its Class A Common Stock (or 13% of total Class A and Class B shares outstanding as of December 31, 2021) for an aggregate purchase price of approximately $245.2 million
- Sonic's Board of Directors approved a 12% increase to the Company's quarterly cash dividend, to $0.28 per share, payable on January 13, 2023 to all stockholders of record on December 15, 2022
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Sonic Automotive GAAP EPS of $2.23 misses by $0.17, revenue of $3.44B misses by $230M