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Last $30.99 USD
Change Today -0.71 / -2.24%
Volume 1.5M
As of 5:20 PM 04/1/15 All times are local (Market data is delayed by at least 15 minutes).

sonic corp (SONC) Key Developments

Sonic Corp. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended February 28, 2015; Provides Earnings Guidance for Second Half and Full Year of Fiscal 2015; Revised Tax Rate Guidance for the Third Quarter and Fourth Quarter of Fiscal 2015

Sonic Corp. reported unaudited consolidated earnings results for the second quarter and six months ended February 28, 2015. For the quarter, the company reported total revenues of $126,219,000 compared with $109,741,000 for the same period last year. Income from operations was $16,991,000 compared with $12,349,000 for the same period last year. Income before income taxes was $10,770,000 compared with $6,109,000 for the same period last year. Net income was $7,662,000 or $0.14 diluted per share compared with $4,107,000 or $0.07 diluted per share for the same period last year. Adjusted -Non-GAAP net income was $6,996,000 or $0.13 diluted per share compared with adjusted non-GAAP net income was $4,107,000 or $0.07 diluted per share for the same period last year. For the six months, the company reported total revenues of $266,075,000 compared with $236,393,000 for the same period last year. Income from operations $39,529,000 compared with $30,708,000 for the same period last year. Income before income taxes was $27,129,000 compared with $18,202,000 for the same period last year. Net income was $17,747,000 or $0.32 diluted per share compared with $12,315,000 or $0.21 diluted per share for the same period last year. Adjusted -Non-GAAP net income was $17,081,000 or $0.13 diluted per share compared with adjusted non-GAAP net income was $11,831,000 or $0.20 diluted per share for the same period last year. The company expects its initiatives to drive 25% to 27% earnings per share growth, on an adjusted basis, in fiscal 2015 as compared to the adjusted non-GAAP earnings per share of $0.84 for fiscal 2014. The company expects capital expenditures of $30 million to $40 million and free cash flow of $70 million to $80 million. This expectation is based upon the following assumptions for the second half of the fiscal year: low to mid-single-digit positive same-store sales with company Drive-Ins slightly outperforming Franchise Drive-Ins in the third quarter and fourth quarter of fiscal 2015; incremental royalty revenue from the license conversion and same-store sales growth; 34 to 44 new drive-in openings; drive-in margin improvement of between 100 to 150 basis points; depreciation and amortization expense of $23 million to $23.5 million; net interest expense of $13 million to $13.5 million; and an income tax rate of 36% to 37%. Tax rate outlook is now lower than previously expected, and it is now projecting tax rate will be in the range of 36% to 37% in the third quarter and fourth quarter of fiscal 2015.

Sonic Corp. Plans to Expand to 40 Restaurants in the Greater Boston

Sonic Corp. announced that it plans to expand from four to 40 restaurants in the Greater Boston area during the next five years.

SONIC® Drive-In Introduces the New Spicy Super Crunch Chicken Strips

SONIC® Drive-In introduced the new Spicy Super Crunch Chicken Strips. These all white-meat chicken strips offer an addictive thrill of spice with each crispy bite for a mouthwatering snack or meal any time of day at the drive-in, on the go, or at home. The new Spicy Super Crunch Chicken Strips are juicy all-white meat strips packed with spice and flavor for a big satisfying crunch. Guests can dip each crispy strip in one of SONIC's classic dipping sauces like Ranch, Honey Mustard or Hickory BBQ.

Sonic Corp. Announces Same-Store Sales for Second Quarter Ended February 28, 2015

Sonic Corp. announced same-store sales for second quarter ended February 28, 2015. For the quarter, the company reported same-store sales increased approximately 11.5%. Same-store sales reflected an increase of approximately 11.3% at company drive-ins and approximately 11.5% at franchise drive-ins.

Sonic Corp. to Report Q2, 2015 Results on Mar 24, 2015

Sonic Corp. announced that they will report Q2, 2015 results at 5:00 PM, US Eastern Standard Time on Mar 24, 2015

 

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Industry Analysis

SONC

Industry Average

Valuation SONC Industry Range
Price/Earnings 32.8x
Price/Sales 2.9x
Price/Book NM Not Meaningful
Price/Cash Flow 17.2x
TEV/Sales 2.0x
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