Sonic Automotive beats 4Q profit forecasts
CHARLOTTE, N.C. (AP) — Sonic Automotive Inc. on Tuesday reported fourth-quarter earnings of $37.6 million.
On a per-share basis, the Charlotte, North Carolina-based company said it had net income of 83 cents. Earnings, adjusted for one-time gains and costs, came to 66 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 62 cents per share.
The auto dealer posted revenue of $2.56 billion in the period.
For the year, the company reported profit of $93.2 million, or $2.03 per share. Revenue was reported as $9.73 billion.
Sonic Automotive expects full-year earnings to be $2 to $2.10 per share.
Sonic Automotive shares have increased roughly 4 percent since the beginning of the year. The stock has climbed 42 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SAH at https://www.zacks.com/ap/SAH
Keywords: Sonic Automotive, Earnings Report