CHARLOTTE, N.C. (AP) – CHARLOTTE, N.C. (AP) – Sonic Automotive Inc. (SAH) on Thursday reported first-quarter profit of $47.7 million.
The Charlotte, North Carolina-based company said it had profit of $1.29 per share. Earnings, adjusted for one-time gains and costs, were $1.33 per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.84 per share.
The auto dealer posted revenue of $3.49 billion in the period, matching Street forecasts.
