Morningstar

Morningstar, Inc.

Equity Bottom-Up

We are not changing our Sonic Automotive fair value estimate following good first-quarter numbers. Adjusted diluted EPS from continuing operations of $0.39, up 50% year over year, easily beat consensus of $0.23. Revenue declined 0.5% to slightly miss consensus. Sonic showed the same trend that other dealers reporting so far have reported: Weak new-vehicle demand contrasted with improving new-vehicle gross profit per unit and strong used demand and profit growth. Sonic's new-vehicle gross profit…

United States

Sonic Automotive, Inc. is an automotive retailer.  The Company operates dealers and collision repair centers in the metropolitan southeastern, midwestern, and southwestern United States. The Company sells new and used cars and light trucks as well as replacement parts. Sonic also provides vehicle maintenance, warranty, paint, and repair services, and arranges financing.

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