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Last $21.07 USD
Change Today -0.09 / -0.43%
Volume 231.0K
SAH On Other Exchanges
Symbol
Exchange
New York
As of 4:15 PM 09/3/15 All times are local (Market data is delayed by at least 15 minutes).

sonic automotive inc-class a (SAH) Key Developments

TrueCar, Inc. and Sonic Automotive Inc. Reach Settlement in Trademark Dispute

TrueCar, Inc. and Sonic Automotive, Inc. jointly announced that they have reached a settlement in TrueCar's lawsuit pending in the United States District Court in Los Angeles. In the litigation, TrueCar established its sole and exclusive rights to its TRUECAR trademark and TRUE family of trademarks and Sonic has agreed to transfer to TrueCar all rights to and use of its TRUE PRICE, TRUE VIEW and all other TRUE-related marks.

Sonic Automotive Inc. Announces Executive Changes

The board of directors of Sonic Automotive Inc. announced the appointment of O. Bruton Smith as Executive Chairman and B. Scott Smith to the position of Chief Executive Officer in conjunction with an executive management realignment. David B. Smith will continue to serve as the company's Vice Chairman. O. Bruton Smith has served as Sonic Automotive's Chairman and Chief Executive Officer since its initial public offering in 1997. As Executive Chairman, he will report directly to the board of directors and will work closely with the board, the Chief Executive Officer and the Vice Chairman to engage in the overall leadership and strategic direction of the Company, guide senior management, coordinate activities of the board of directors and communicate with the company's key stakeholders. In his expanded role as Chief Executive Officer and President, B. Scott Smith, who is a co-founder of the Company and has served as Sonic Automotive's President and Chief Strategic Officer since 2007, will work closely with the Executive Chairman, the Vice Chairman, executive management and the board of directors to develop the strategic direction of the company, provide leadership of day-to-day operations and communicate with the Company's key stakeholders. The realignment became effective immediately upon approval by Sonic Automotive Inc.'s board of directors.

Sonic Automotive Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Reports Impairment Charges for the Second Quarter Ended June 30, 2015; Provides Capital Expenditure Guidance for the Year 2015

Sonic Automotive Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company's total revenues were $2,423,740,000 compared to $2,353,280,000 a year ago. Operating income was $43,130,000 compared to $63,598,000 a year ago. Income from continuing operations before taxes was $24,741,000 compared to $44,890,000 a year ago. Income from continuing operations was $15,092,000 or $0.30 per diluted share compared to $27,061,000 or $0.51 per diluted share a year ago. Net income was $14,781,000 or $0.29 per diluted share compared to $26,993,000 or $0.51 per diluted share a year ago. Adjusted net income from continuing operations was $23.4 million or $0.46 per diluted share compared to $23.5 million, or $0.44 per diluted share a year ago. Adjusted net income was $23.077 million or $0.45 per diluted share compared to $23.387 million, or $0.44 per diluted share a year ago. Capital spends for the second quarter, a total spend of $83 million for facilities, IT and general maintenance, offset by $46 million in mortgages related to the EchoPark and franchise dealership properties. For the six months the company's total revenues were $4,659,256,000 compared to $4,489,666,000 a year ago. Operating income was $84,626,000 compared to $114,241,000 a year ago. Income from continuing operations before taxes was $48,329,000 compared to $77,123,000 a year ago. Income from continuing operations was $29,481,000 or $0.57 per diluted share compared to $47,045,000 or $0.89 per diluted share a year ago. Net income was $28,749,000 or $0.56 per diluted share compared to $46,379,000 or $0.87 per diluted share a year ago. Adjusted earnings from continuing operations were $42,196,000 or $0.82 per diluted share compared to $43.439 million or $0.82 per diluted share for the same period a year ago. Adjusted net income was $41.464 million or $0.81 per diluted share compared to $42.773 million, or $0.81 per diluted share a year ago. The company also reported impairment charges of $10,469,000 for the second quarter ended June 30, 2015 compared to $4,000 a year ago. Estimated 2015 total spend of $214 million, offset by $110 million in mortgages.

Sonic Automotive, Inc. Approves Quarterly Dividend, Payable on October 15, 2015

Sonic Automotive Inc. announced that its board of directors approved a quarterly dividend of $0.025 per share payable in cash for stockholders of record on September 15, 2015. The dividend will be payable on October 15, 2015.

Sonic Automotive Seeks Acquisitions

Sonic Automotive Inc. (NYSE:SAH) continues to be active in acquisition market.

 

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Industry Analysis

SAH

Industry Average

Valuation SAH Industry Range
Price/Earnings 13.5x
Price/Sales 0.1x
Price/Book 1.6x
Price/Cash Flow 7.5x
TEV/Sales NM Not Meaningful
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