SONIC AUTOMOTIVE INC

Sonic Automotive reported a significant turnaround in its second quarter of 2026, with net income reaching $57.4 million, or $1.82 per basic share, compared to a net loss of $45.6 million, or $(1.34) per basic share, in the same period last year. Total revenues for the quarter increased to $3,934.0 million from $3,657.2 million year-over-year. The company also expanded its Powersports segment with a $66.3 million acquisition of six locations and divested five dealerships for $60.0 million.

Sonic Automotive Inc. reported strong financial results for its second fiscal quarter ended June 30, 2026, achieving record consolidated revenues of $3.9 billion and an all-time record quarterly gross profit of $616.2 million. Reported net income surged 226% to $57.4 million, with diluted earnings per share reaching $1.79. The company's Board of Directors also approved a quarterly cash dividend of $0.41 per share, marking a 17% increase from the prior year.

Sonic Automotive's Compensation Committee approved grants of performance-based restricted stock units (RSUs) to executive officers, effective May 6, 2026. A total of 134,230 units were granted, with Mr. David Bruton Smith receiving 69,872 units, Mr. Jeff Dyke 38,175 units, and Mr. Heath R. Byrd 26,183 units. These awards are subject to forfeiture based on continued employment, compliance with restrictive covenants, and achievement of the company's adjusted earnings per share performance for the 2026 calendar year. The RSUs will vest in three annual installments from March 2027 to February 2029 and will be paid in Class A common stock, cash, or a combination at the committee's discretion.

SONIC AUTOMOTIVE INC reported Q1 2026 net income of $60.8 million, a decrease from $70.6 million in Q1 2025, with diluted EPS falling to $1.79. Total revenues saw a slight increase to $3,688.5 million. The company completed the divestment of four franchised dealerships and related real estate, generating $58.7 million in gross proceeds and a pre-tax gain of $5.1 million. Additionally, SAH secured a new $150.0 million Bridge Facility and significantly increased treasury stock purchases.