Brief: Sonic Automotive Reports Q2 Financial Results

Sonic Automotive

28/07/2022 12:27

July 28 (Reuters) - Sonic Automotive Inc  SAH.N :
    * SONIC AUTOMOTIVE REPORTS SECOND QUARTER FINANCIAL RESULTS
    * Q2 ADJUSTED EARNINGS PER SHARE $2.45 FROM CONTINUING
OPERATIONS
EXCLUDING ITEMS
    * Q2 REVENUE ROSE 9 PERCENT TO $3.7 BILLION
    * BOARD OF DIRECTORS INCREASES SHARE REPURCHASE
AUTHORIZATION BY
$500 MILLION FOR TOTAL AVAILABILITY OF $633 MILLION
    * SONIC AUTOMOTIVE - CONCLUDED REVIEW PROCESS FOR ITS
ECHOPARK
BUSINESS
    * SONIC AUTOMOTIVE - BOARD DETERMINED TIMING AND CURRENT
MARKET
CONDITIONS DO NOT ALIGN WITH COMPANY'S VALUE CREATION OBJECTIVES
FOR ECHOPARK BUSINESS
    * SONIC AUTOMOTIVE - CURRENT MARKET ENVIRONMENT CAUSED CO TO
ADJUST ECHOPARK'S PROJECTED REVENUE GROWTH, PUSH BACK
ACHIEVEMENT OF PREVIOUSLY STATED GOALS BEYOND 2025
    * Q2 EARNINGS PER SHARE VIEW $2.55, REVENUE VIEW $3.90
BILLION --
REFINITIV IBES DATA

Source text for Eikon:  ID:nBw2dT75Fa 
Further company coverage:  SAH.N 

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