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Jun 30, 2022
Sonic Automotive Q2 2022 Earnings Report
Reported all-time record quarterly revenues and gross profit.
Key Takeaways
Sonic Automotive reported all-time record quarterly revenues of $3.7 billion, up 9% year-over-year, and all-time record quarterly gross profit of $588.8 million, up 15% year-over-year.
All-time record quarterly revenues of $3.7 billion, up 9% year-over-year, all-time record quarterly gross profit of $588.8 million, up 15% year-over-year
Reported net income from continuing operations of $94.8 million ($2.34 per diluted share)
All-time record quarterly total Finance & Insurance (“F&I”) gross profit per retail unit of $2,503, up 13% year-over-year
All-time record quarterly EchoPark revenues of $665.6 million, up 12% year-over-year
Sonic Automotive
Sonic Automotive
Sonic Automotive Revenue by Segment
Revenue by Segment
Franchised Dealerships Revenue
CapyFin.com Forward Guidance
While the Company remains confident in EchoPark’s long-term prospects, the current market environment has caused the Company to adjust EchoPark’s projected revenue growth and push back the achievement of its previously stated financial goals beyond 2025.