Sonic Continues to Invest in Reinventing Itself Through EchoPark Used Vehicle Stores
Sonic Automotive's fourth-quarter results on Feb. 20 did not have major surprises, since it had already announced some results on Feb. 15. Adjusted diluted EPS from continuing operations of $0.76 was in the range provided on Feb. 15 of $0.74-$0.78, and we see no reason to change our fair value estimate. We will reassess all valuation assumptions in March when we process the latest 10-K into our model. Total revenue fell 3.5% year over year, and same-store new-vehicle revenue fell by 6.7%, while ...Sonic Automotive is an automotive retailer in the United States. The company has two reportable segments: the Franchised Dealerships Segment and the EchoPark Segment. The Franchised Dealerships segment is comprised of retail automotive franchises that sell new vehicles and buy and sell used vehicles, sell replacement parts, perform vehicle maintenance, warranty and repair services, and arrange finance and insurance products. The EchoPark segment is comprised of pre-owned vehicle retail locations that provide customers an opportunity to search the company's nationwide inventory, purchase a pre-owned vehicle, select finance and insurance products and sell their vehicle to the company
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