CHARLOTTE, N.C. (AP) _ Sonic Automotive Inc. (SAH) on Wednesday reported fourth-quarter earnings of $57.3 million.
On a per-share basis, the Charlotte, North Carolina-based company said it had profit of $1.30. Earnings, adjusted for non-recurring costs and asset impairment costs, came to $1.50 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.43 per share.
The auto dealer posted revenue of $2.8 billion in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $2.83 billion.
For the year, the company reported a loss of $51.4 million, or $1.21 per share, swinging to a loss in the period. Revenue was reported as $9.77 billion.
Sonic Automotive shares have risen 14% since the beginning of the year. The stock has increased 39% in the last 12 months.
