Stay updated with breaking news from Echopark segment. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Stock Market | Daily Herald dailyherald.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailyherald.com Daily Mail and Mail on Sunday newspapers.
Expected to add $3.2 billion in revenues on an annualized basis During the third quarter, Sonic repurchased 0.5 million shares of Class A Common Stock for an aggregate purchase price of $24.8 million In October, the Company amended its credit facilities to increase revolver and floor plan commitments from $1.8 billion to $2.95 billion, in addition to completing an upsized offering of $1.15 billion aggregate principal amount of unsecured senior notes due 2029 and 2031 at a blended rate of 4.73%, with expected use of net proceeds to fund the acquisition of RFJ Auto, the redemption of outstanding notes, and for general corporate purposes, including the repayment of debt Commentary David Smith, Chief Executive Officer of Sonic and EchoPark, commented, “I am extremely proud of our team for delivering continued year-over-year growth, in particular against a backdrop of industry-wide inventory headwinds and supply chain disruptions. ....
Sonic Automotive Adds Additional Market To Its Growing EchoPark Nationwide Distribution Network & Digital Expansion In Salt Lake City, Utah apnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from apnews.com Daily Mail and Mail on Sunday newspapers.
Sonic Automotive Reports Record First Quarter Revenues and Earnings Per Share CHARLOTTE, N.C. Sonic Automotive, Inc. (“Sonic” or the “Company”) , one of the nation’s largest automotive retailers, today reported financial results for the first quarter ended March 31, 2021. The financial measures discussed below are results for the first quarter of 2021 with comparisons made to the first quarter of 2020, unless otherwise noted. Certain metrics are also compared to the first quarter of 2019 to exclude the effects of the onset of the COVID-19 pandemic on comparative results. First Quarter Highlights Record first quarter revenues of $2.8 billion, up 20.7%, and record first quarter income from continuing operations before taxes of $72.6 million, compared to a loss before taxes of $243.2 million in the first quarter of 2020, which included a $268.0 million non-cash goodwill impairment charge (excluding the effect of this prior year goodwill impairment charge, pre- ....
Press release content from Business Wire. The AP news staff was not involved in its creation. Sonic Automotive Expands its EchoPark Network with Newest Store in Birmingham, Alabama April 12, 2021 GMT BIRMINGHAM, Ala. (BUSINESS WIRE) Apr 12, 2021 Sonic Automotive, Inc. (“Sonic” or the “Company”) ( NYSE:SAH ), a Fortune 500 Company and one of the nation’s largest automotive retailers, today announced the opening of its newest EchoPark specialty pre-owned vehicle store in Birmingham, Alabama. ADVERTISEMENT EchoPark Birmingham is the Company’s 22 nd location to-date, its first in the State of Alabama and follows recent openings in Maryland, Arizona and New York. Guests in the greater Birmingham market will be able to visit in person or online at www.echopark.com to shop an inventory of nearly 10,000 high quality one-to-four year-old pre-owned vehicles under original factory warranty, with clean CarFax reports, and priced up to 40 percent below new ....