CHARLOTTE, N.C. (AP) _ CHARLOTTE, N.C. (AP) _ Sonic Automotive Inc. (SAH) on Wednesday reported a loss of $190.9 million in its fourth quarter.
The Charlotte, North Carolina-based company said it had a loss of $5.22 per share. Earnings, adjusted for non-recurring costs, came to $2.61 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.26 per share.
The auto dealer posted revenue of $3.59 billion in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $3.45 billion.
For the year, the company reported profit of $88.5 million, or $2.23 per share. Revenue was reported as $14 billion.
