Sonic Automotive: 2Q Earnings Snapshot
CHARLOTTE, N.C. (AP) _ Sonic Automotive Inc. (SAH) on Thursday reported second-quarter net income of $26.6 million.
The Charlotte, North Carolina-based company said it had profit of 61 cents per share. Earnings, adjusted to account for discontinued operations, came to 62 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.
The auto dealer posted revenue of $2.61 billion in the period.
Sonic Automotive shares have climbed 89% since the beginning of the year. The stock has risen 41% in the last 12 months.