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Jun 30, 2020
Sonic Automotive Q2 2020 Earnings Report
Reported EPS growth and accelerated EchoPark expansion.
Key Takeaways
Sonic Automotive reported a strong second quarter with earnings per diluted share of $0.71 and EchoPark revenues up 8% year-over-year. The company is accelerating EchoPark's expansion, expecting it to generate over $10 billion in incremental revenue by 2025.
Earnings per diluted share from continuing operations were $0.71, compared to $0.62 in Q2 2019.
SG&A expenses as a percentage of gross profit improved by 230 basis points to 74.9%.
Total consolidated revenues were $2.1 billion and gross profit was $307.4 million.
EchoPark revenues increased by 8% to $315.3 million with segment income up 52%.
Sonic Automotive
Sonic Automotive
Sonic Automotive Revenue by Segment
Revenue by Segment
Franchised Dealerships Revenue
CapyFin.com Forward Guidance
Sonic Automotive expects to provide the next mid-quarter update to its 2020 outlook during the week of September 14th. The COVID-19 pandemic could impact both our outlook and future results depending on its continued evolution.
Challenges Ahead
- The COVID-19 pandemic could impact both our outlook and future results depending on its continued evolution.