Sonic Automotive Q1 Profit Declines - Quick Facts

(RTTNews) - Sonic Automotive Inc. (SAH) reported that its second-quarter net income declined to $14.78 million or $0.29 per share from $26.99 million or $0.51 per share in the comparable quarter last year.

Adjusted net income from continuing operations for the latest second quarter was $23.4 million or $0.46 per share, compared to $23.5 million or $0.44 per share in the prior year. On average, eight analysts polled by Thomson Reuters expected the company to report earnings of $0.47 per share. Analysts' estimates typically exclude special items.

Total revenues for the quarter grew to $2.42 billion from $2.35 billion last year, while five analysts had a consensus revenue estimate of $2.43 billion for the quarter.

Separately, Sonic Automotive said 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.