Sonic Automotive: Q2 Earnings Snapshot
CHARLOTTE, N.C. (AP) _ Sonic Automotive Inc. (SAH) on Thursday reported second-quarter net income of $94.8 million.
On a per-share basis, the Charlotte, North Carolina-based company said it had net income of $2.34. Earnings, adjusted for non-recurring costs, came to $2.45 per share.
The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.52 per share.
The auto dealer posted revenue of $3.65 billion in the period, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $3.97 billion.