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Jun 30, 2021
Sonic Automotive Q2 2021 Earnings Report
Reported all-time record quarterly revenues and earnings per share, driven by strong franchised dealership performance across all business lines and a fourth consecutive quarter of record EchoPark revenues and retail unit sales volume.
Key Takeaways
Sonic Automotive reported all-time record quarterly revenues of $3.4 billion, up 58.7% year-over-year, and earnings per share of $2.63. The company's performance was driven by strong franchised dealership performance across all business lines and a fourth consecutive quarter of record EchoPark revenues and retail unit sales volume.
All-time record quarterly revenues of $3.4 billion, up 58.7% year-over-year.
All-time record quarterly income from continuing operations before taxes of $151.0 million, up 303.4% year-over-year.
All-time record quarterly earnings from continuing operations of $114.0 million ($2.63 per diluted share).
All-time record quarterly EchoPark revenues of $595.6 million, up 88.9% year-over-year.
Sonic Automotive
Sonic Automotive
Sonic Automotive Revenue by Segment
Revenue by Segment
Franchised Dealerships Revenue
CapyFin.com Forward Guidance
The company believes it can sustain its strong operating performance throughout the balance of 2021 and well into 2022 and is confident of attaining its goal of more than doubling total revenues to $25 billion by 2025 while continuing to significantly increase profitability.
Positive Outlook
- Increasing consumer demand
- Success in maximizing operating efficiency at franchised dealerships
- Continued expansion of the EchoPark brand
- On track for a fourth quarter 2021 launch of new digital retail platform
- Guest-centric EchoPark buying experience continues to drive market share gains
Challenges Ahead
- Economic conditions in the markets in which we operate
- New and used vehicle industry sales volume
- Anticipated future growth in our EchoPark Segment
- Success of our operational strategies
- The effect of the COVID-19 pandemic and related government-imposed restrictions on operations