Sonic Automotive Reports Record Revenues in Q4 2024

By Tamara Parker • Wednesday, February 12 15:20 • Permanent Link

Sonic Automotive, Inc. has reported its financial results for the fourth quarter and full year ended December 31, 2024. Here are the specific details:

Fourth Quarter 2024 Financial Summary: All-time record quarterly total revenues of $3.9 billion, up 9% year-over-year Total gross profit of $574.0 million, up 6% year-over-year Reported net income of $58.6 million, up 51% year-over-year Adjusted fourth quarter net income was $53.1 million, down 7% year-over-year All-time record quarterly franchised dealerships segment revenues of $3.4 billion, up 12% year-over-year Echopark segment revenues of $506.2 million, down 9% year-over-year Echopark segment gross profit of $49.0 million, up 14% year-over-year Echopark segment adjusted EBITDA of $4.2 million, up 146% year-over-year

Full Year 2024 Financial Summary: Total revenues of $14.2 billion, down 1% year-over-year Gross profit of $2.2 billion, down 2% year-over-year Reported full year net income of $216.0 million, up 21% year-over-year Adjusted net income was $195.8 million, down 20% year-over-year All-time record annual franchised dealerships segment revenues of $11.9 billion, up 1% year-over-year Echopark segment revenues of $2.1 billion, down 13% year-over-year Echopark segment gross profit of $207.9 million, up 28% year-over-year Echopark segment adjusted EBITDA of $27.6 million, up 133% year-over-year

Segment Highlights: Franchised dealerships segment reported same store revenues up 12% and same store gross profit up 5% in the fourth quarter Echopark segment reported revenues of $506.2 million, down 9% year-over-year, with a gross profit of $49.0 million, up 14% year-over-year * Powersports segment reported revenues of $30.6 million, up 13% year-over-year, with a gross profit of $7.5 million, up 7% year-over-year

Dividends: Sonic’s board of directors approved a quarterly cash dividend of $0.35 per share, payable on April 15, 2025.

The company's management expressed pride in the team's performance, with a focus on continued growth and delivering outstanding experiences for guests and teammates.

For more detailed financial information, the company's website can be accessed. Following these announcements, the company's shares moved -2.0%, and are now trading at a price of $73.29. For the full picture, make sure to review Sonic Automotive's 8-K report.

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