Sonic continues to take CarMax head-on while trying to revolutionize new-car buying.
Sonic Automotive reported results that hit record fourth-quarter levels for several metrics, including used unit volume and gross profit in the service and finance segments. Adjusted diluted EPS rose 8.2% year over year to $0.66, easily beating consensus of $0.62, while revenue grew 3.5% to roughly match consensus. We are keeping our narrow moat rating but increasing our fair value estimate to $20 for a time value of money adjustment in our model. We will also update our model in March after the...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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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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