Sonic Automotive First Quarter 2024 Earnings: Misses Expectations

Sonic Automotive (NYSE:SAH) First Quarter 2024 Results

Key Financial Results

• Revenue: US$3.38b (down 3.1% from 1Q 2023).
• Net income: US$42.0m (down 12% from 1Q 2023).
• Profit margin: 1.2% (down from 1.4% in 1Q 2023).
• EPS: US$1.24 (down from US$1.33 in 1Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Sonic Automotive Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 1.9%. Earnings per share (EPS) also missed analyst estimates by 8.2%.

Looking ahead, revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Specialty Retail industry in the US.

Performance of the American Specialty Retail industry.

The company's shares are up 22% from a week ago.

Risk Analysis

It is worth noting though that we have found 2 warning signs for Sonic Automotive (1 can't be ignored!) that you need to take into consideration.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.