Sonic Automotive: Q2 Earnings Snapshot

July 28, 2022 GMT

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.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SAH at https://www.zacks.com/ap/SAH