Sonic Automotive (SAH, Financial) witnessed a notable stock surge, climbing 5.12% to $59.78 per share, with a trading volume of 53,446 shares and a turnover rate of 0.16%. The stock's fluctuation amplitude reached 4.40%.
Recent financial data revealed that Sonic Automotive achieved a revenue of $3.492 billion, a net profit of $74.20 million, and earnings per share of $2.18. The company reported a gross profit of $506 million, with a price-to-earnings (P/E) ratio of 10.57.
In terms of institutional ratings, out of 10 participating firms, 30% recommended buying, while 70% advised holding the stock. No institutions recommended selling.
Within the automotive retail sector, the overall increase was 1.31%. Notable stocks in this industry, such as Suncar Technology Group Inc and Cheetah Net Supply Chain Service Inc, saw significant growth, while others like Kaixin Auto also showed high activity levels. Suncar Technology Group Inc experienced a notable amplitude of 31.82%.
Sonic Automotive is one of the largest automotive dealership groups in the United States, operating 108 franchised stores across 18 states, primarily in California, Texas, and the Southeast metropolitan areas. The company also runs 25 EchoPark used car stores, 16 collision centers, and 13 power sports centers. The majority of their franchised dealership revenue is derived from luxury and import brands, with Honda, BMW, Mercedes, and Toyota making up 58% of new car revenue. BMW is the largest contributor, representing roughly 25% of the revenue.
In 2023, Sonic generated $14.4 billion in revenue, with EchoPark accounting for $2.4 billion. Additionally, Sonic expanded its operations with the acquisition of RFJ Auto in December 2021, increasing sales by $3.2 billion.
