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Dec 31, 2020
Sonic Automotive Q4 2020 Earnings Report
Reported all-time record quarterly revenues and pre-tax earnings, reflecting strong performance and improved cost structure.
Key Takeaways
Sonic Automotive reported all-time record quarterly revenues of $2.8 billion, up 1.8%, and all-time record quarterly income from continuing operations before taxes of $90.4 million, up 48.3%. Adjusted earnings from continuing operations were $65.8 million ($1.50 per diluted share), an increase of 52.7%.
All-time record quarterly revenues of $2.8 billion, up 1.8%, and all-time record quarterly income from continuing operations before taxes of $90.4 million, up 48.3%.
Reported earnings from continuing operations of $57.5 million ($1.31 per diluted share).
All-time record quarterly adjusted earnings from continuing operations of $65.8 million ($1.50 per diluted share), an increase of 52.7%.
All-time record quarterly total Finance & Insurance (“F&I”) gross profit per retail unit of $2,031, up 12.3%.
Sonic Automotive
Sonic Automotive
Forward Guidance
Trends have continued into early 2021 and company believes it is well on the path to more than double the Company’s total revenues and significantly increase profitability over the next five years. EchoPark business expects to retail over half a million pre-owned vehicles annually and drive $14.0 billion in annual EchoPark revenues by 2025.