- Sonic Automotive (NYSE:SAH -2.8%) reports new vehicles same-store sales rose 1.1% to $1.37B in Q3.
- Used vehicles same-store sales increased 0.8% to $649.31M.
- Wholesale vehicles same-store sales +86.3% to $70.03M.
- Total new vehicles revenue grew 0.5% to $1.38B.
- Used vehicles revenue up 1.4% to $660.97M.
- Wholesale vehicles revenue expanded 85.7% to $70.52M.
- Total new vehicles units sales dropped 3.8% to 36,054.
- Total used vehicles units sales +1.5% to 30,933.
- Gross margin rate squeezed 40 bps to 14%.
- Operating margin rate decreased 50 bps to 2%.
- The company expects diluted EPS to range from $0.59-$0.69 in Q4 and $1.95-$2.05 for FY2016.