Sonic Automotive Inc (SAH) released a profit for its first quarter that increased from last year and beat the Street estimates.
The company's earnings totaled $70.6 million, or $2.04 per share. This compares with $42 million, or $1.20 per share, last year.
Excluding items, Sonic Automotive Inc reported adjusted earnings of $51.3 million or $1.48 per share for the period.
Analysts on average had expected the company to earn $1.44 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period rose 7.9% to $3.651 billion from $3.384 billion last year.
Sonic Automotive Inc earnings at a glance (GAAP) :
-Earnings: $70.6 Mln. vs. $42 Mln. last year.
-EPS: $2.04 vs. $1.20 last year.
-Revenue: $3.651 Bln vs. $3.384 Bln last year.
The Board will pay a quarterly cash dividend of $0.35 per share on July 15, to all stockholders of record as of June 13.
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