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Home > Fortune 500 Companies > Sonic Automotive 'a'
Sonic Automotive 'a'
Sonic Automotive was incorporated in 1997 and is headquartered in Charlotte, North Carolina. O. Bruton Smith is thechairman and chief executive officer of the company. It’s a publicly traded company having a good stock performance result. Sonic Automotive Inc. is a fortune 500 stock listed company trading under SAH.
They are the member of the Russell 2000 Index, and among the largest automotive retailers in the United States. Sonic Automotive operates 176 dealership franchises, representing 37 different brands of cars and light trucks at 152 locationsand38 collision repair centers in 15 states. These dealerships provide comprehensive services, including sales of both new and used cars and light trucks, performance of vehicle maintenance, sales of replacement parts, paint and collision repair services, warranty, and arrangement of extended warranty contracts, financing and insurance for the company's customers.
Sonic Automotive completed a year of solid revenue and earnings growth determined by perfections in all areas of their business. Revenue grew 9.9percent to 7.9 billion dollars while earnings per share from continuing operations grew 7.9percent to 2.33 dollars. They continue to lead the industry in the disciplined management of new vehicle inventory by focusing on their proven best practices. Their overall same store revenues grew 4.7percent over 2004 during a period when many brands were experiencing year-over-year declines. Their SG&A expenses as a percentage of gross profit declined to 77.5percent, for a 120 basis point improvement over 2004.
The results of the strategy in 2005 are convincing. During 2005 they disposed of 13 dealerships that generated 160 million dollars in revenues and 8 million dollars in pretax operating losses for the period that we owned them. During the same period, 2005 they attained 5 dealerships which generated 200 million dollars in revenues and 8 million dollars in pretax operating earnings for Sonic.
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