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SVTPerformance's Chain of Restaurants
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<blockquote data-quote="Weather Man" data-source="post: 16489814" data-attributes="member: 137766"><p><span style="font-size: 22px"><strong>Sonic Automotive on watch after solid guidance update</strong></span></p><p>Sep. 15, 2020 7:17 AM ET|About: <a href="https://seekingalpha.com/symbol/SAH" target="_blank">Sonic Automotive, Inc. (SAH)</a>|By: <a href="https://seekingalpha.com/author/sa-editor-clark-schultz" target="_blank">Clark Schultz</a>, SA News Editor </p><p></p><p></p><p>Sonic Automotive (NYSE:<a href="https://seekingalpha.com/symbol/SAH" target="_blank">SAH</a>) updates guidance based on results for July, August and September to date.</p><p></p><p>Those results included new vehicle unit sales falling 17% in July, 21% in August and 9% in September to date. Used vehicle sales were down 5% in July, 9% lower in August and up 6% in September to date.</p><p></p><p>Sonic currently expects to report Q3 EPS in the range of $1.08-$1.15 vs. $1.08 consensus.</p><p></p><p>CEO update: "We are very pleased with our operating performance in the third quarter to date, continuing our recovery from the challenges our industry faced earlier this year. Consumer demand for new and used vehicles and parts and service repair work has continued to improve steadily in recent weeks, particularly when factoring in the timing of this year’s Labor Day weekend sales compared to the prior year. Additionally, our commitment to increasing operating efficiency at both our franchised and EchoPark stores continues to drive enhanced profitability."</p></blockquote><p></p>
[QUOTE="Weather Man, post: 16489814, member: 137766"] [size=6][b]Sonic Automotive on watch after solid guidance update[/b][/size] Sep. 15, 2020 7:17 AM ET|About: [URL='https://seekingalpha.com/symbol/SAH']Sonic Automotive, Inc. (SAH)[/URL]|By: [URL='https://seekingalpha.com/author/sa-editor-clark-schultz']Clark Schultz[/URL], SA News Editor Sonic Automotive (NYSE:[URL='https://seekingalpha.com/symbol/SAH']SAH[/URL]) updates guidance based on results for July, August and September to date. Those results included new vehicle unit sales falling 17% in July, 21% in August and 9% in September to date. Used vehicle sales were down 5% in July, 9% lower in August and up 6% in September to date. Sonic currently expects to report Q3 EPS in the range of $1.08-$1.15 vs. $1.08 consensus. CEO update: "We are very pleased with our operating performance in the third quarter to date, continuing our recovery from the challenges our industry faced earlier this year. Consumer demand for new and used vehicles and parts and service repair work has continued to improve steadily in recent weeks, particularly when factoring in the timing of this year’s Labor Day weekend sales compared to the prior year. Additionally, our commitment to increasing operating efficiency at both our franchised and EchoPark stores continues to drive enhanced profitability." [/QUOTE]
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