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Mar 31, 2022
Sonic Automotive Q1 2022 Earnings Report
Reported record first quarter revenues and EPS driven by strong demand and benefits from strategic acquisitions.
Key Takeaways
Sonic Automotive reported record first quarter revenues of $3.6 billion, up 28.7% year-over-year, and record first quarter net income from continuing operations of $97.3 million ($2.33 per diluted share, up 89.4% year-over-year). The company's performance was driven by persistent consumer demand, enhanced digital sales and marketing initiatives, and the efforts of its teammates.
All-time record quarterly revenues of $3.6 billion, up 28.7% year-over-year
Record first quarter income from continuing operations before taxes of $128.9 million, up 77.5% year-over-year
Record first quarter net income from continuing operations of $97.3 million ($2.33 per diluted share, up 89.4% year-over-year)
All-time record quarterly total Finance & Insurance (“F&I”) gross profit per retail unit of $2,495, up 22.0% year-over-year
Sonic Automotive
Sonic Automotive
Sonic Automotive Revenue by Segment
Revenue by Segment
Franchised Dealerships Revenue
CapyFin.com Forward Guidance
Sonic Automotive remains confident in reaching its stated goal of $28 billion in total revenues by 2025.