The latest update is out from Sonic Automotive ( (SAH) ).
Sonic Automotive reported mixed third quarter 2024 results, with total revenues down 4% year-over-year to $3.5 billion, but net income rose by 8% to $74.2 million. The EchoPark Segment achieved record quarterly gross profit, segment income, and adjusted EBITDA, showcasing resilience despite operational disruptions like the CDK Global outage. Additionally, Sonic’s Board approved a 17% increase in the quarterly dividend, reflecting confidence in its long-term strategy and diversified business model.
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