Sonic Automotive Q1 Profit Beats Estimates

(RTTNews) - Sonic Automotive, Inc. (SAH) reported first quarter reported earnings from continuing operations of $53.7 million or $1.23 per share, compared to a loss of $199.1 million or $4.67 per share and adjusted earnings from continuing operations of $17.6 million or $0.40 per share in the first quarter of 2020. On average, seven analysts polled by Thomson Reuters expected the company to report profit per share of $0.92, for the quarter. Analysts' estimates typically exclude special items.

First quarter revenues were $2.8 billion, up 20.7% from last year. Analysts expected revenue of $2.53 billion, for the quarter.

Sonic's Board of Directors approved a quarterly cash dividend of $0.12 per share payable on July 15, 2021 to all stockholders of record on June 15, 2021.

Shares of Sonic Automotive were up 4% in pre-market trade on Thursday.