Sonic Automotive, Inc. (SAH – Free Report) registered adjusted earnings per share of 40 cents in first-quarter 2020, beating the Zacks Consensus Estimate of 20 cents. Higher sales from the used vehicle unit led to outperformance. Moreover, the bottom line was a penny higher than 39 cents per share reported in the year-ago quarter on the back of solid performance from the EchoPark segment.
However, total revenues in the reported quarter amounted to $2,308 million, down 3.4% from the prior-year period. Further, revenues missed the Zacks Consensus Estimate of $2,325 million.
During the reported quarter, revenues from the sale of new vehicles fell 10% year over year to $959.5 million. Gross profit decreased to $45.4 million from $53.8 million recorded in the year-ago period.
Revenues from the sale of total used vehicles rose 3.6% from the prior-year quarter to $850 million. The metric also topped the consensus