Sonic Automotive, Inc. - SAH STOCK NEWS

Sonic Automotive (NYSE:SAH), a Fortune 500 automotive retailer, has announced the release date for its fiscal 2024 third quarter financial results. The results will be published on Thursday, October 24, 2024, at 7:00 A.M. (Eastern). Following the release, senior management will host a conference call at 11:00 A.M. (Eastern) to discuss the results.

Investors can access the earnings press release and presentation materials on the company's website at ir.sonicautomotive.com. The conference call will be available via live webcast on the same website, and interested parties can also dial in via telephone at (877) 407-8289 (domestic) or +1 (201) 689-8341 (international).

A webcast replay of the call will be available for 14 days following the event on the company's investor relations website.

CDK, the leading automotive retail software provider, has extended its agreement with Sonic Automotive, Inc. (NYSE: SAH), a major automotive and powersports retailer. The deal includes providing Sonic Automotive dealerships with the CDK Dealer Management System (DMS) and Dealership Xperience Modern Retail Suite. This software suite connects the consumer-to-dealer buying journey into a unified transaction, enhancing customer experience.

The partnership allows Sonic Automotive to leverage CDK's artificial intelligence (AI) features, including predictive modeling for customer buying propensity, machine learning for anticipating vehicle service opportunities, and the new CDK AI Virtual Assistant (AIVA) for personalized customer engagement.

CDK's software powers the majority of franchise dealerships in North America, including five of the six publicly held dealership groups in the U.S. as of 2024. This extension reinforces CDK's position at the center of the automotive ecosystem and its commitment to driving digital transformation in the industry.

Sonic Automotive (NYSE:SAH) reported mixed Q2 2024 financial results. Total revenues decreased 5% year-over-year to $3.5 billion, while reported net income increased 76% to $41.2 million. The company faced challenges due to a CDK Global software outage, which is estimated to have reduced Q2 GAAP income before taxes by approximately $30 million. Despite this, EchoPark Segment achieved record Q2 adjusted EBITDA, showing progress in used vehicle operations. The Franchised Dealerships Segment experienced margin normalization, with same-store retail new vehicle gross profit per unit down 29%. Sonic maintained its guidance for positive quarterly EchoPark Segment adjusted EBITDA for the remainder of 2024.

Sonic Automotive (NYSE:SAH), a Fortune 500 automotive retailer, has announced the release of its fiscal 2024 second quarter financial results on August 5, 2024. The results will be available by 7:00 A.M. Eastern, followed by a senior management conference call at 10:00 A.M. Eastern. Investors can access the live webcast and presentation materials on the company's website at ir.sonicautomotive.com. For those preferring to dial in, the numbers are (877) 407-8289 (domestic) or +1 (201) 689-8341 (international). A webcast replay will be available for 14 days after the call.

Sonic Automotive, Inc. announced the retirement of Rachel Richards, the Chief Marketing Officer, after a distinguished 40-year career in the automotive industry. Dino Bernacchi will succeed her effective May 1, 2024. Richards played a pivotal role in strategic planning and operational leadership, while Bernacchi is an industry veteran with significant marketing experience. The company expresses gratitude to Richards and excitement for Bernacchi's leadership.

Sonic Automotive reported its first quarter 2024 financial results, with total revenues of $3.4 billion, down 3% year-over-year. The EchoPark segment achieved an all-time record quarterly adjusted EBITDA of $7.3 million, exceeding the target for breakeven. The company repurchased approximately 0.5 million shares of its Class A Common Stock for $27.0 million. The Franchised Dealerships Segment saw same store revenues up 1% and same store retail new vehicle unit sales volume up 5%. The Powersports Segment had a 19% revenue decrease and a loss of $2.3 million. Sonic's Board of Directors approved a quarterly cash dividend of $0.30 per share.

Sonic Automotive, Inc. announces the release of fiscal 2024 first quarter financial results with a conference call for investors. The webcast and earnings press release will be available on the company's website.

Sonic Automotive, Inc. reports record annual revenues of $14.4 billion for 2023, with EchoPark segment expected to achieve breakeven adjusted EBITDA in Q1 2024. The company's financial results show total revenues of $3.6 billion in Q4 2023, with a reported net income of $38.7 million. Franchised Dealerships Segment revenues were $3.0 billion, up 1% year-over-year, while EchoPark Segment revenues were $556.6 million, down 6% year-over-year.

Sonic Automotive, Inc. (SAH) will release its fiscal 2023 fourth quarter and full year financial results on February 14, 2024. The company will hold a conference call at 11:00 A.M. (Eastern) with senior management. Investor presentation and earnings press release materials will be accessible on the company's website. The live webcast of the conference call can be accessed on the company's website as well. Dial-in access for the conference call will be available, and a webcast replay will be available for 14 days following the call.