Sonic Automotive Inc. said its first-quarter normalized net income was 37 cents per share, compared with the S&P Capital IQ consensus estimate of 38 cents per share.
EPS declined year over year from 38 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $19.2 million, a decrease from $20.1 million in the year-earlier period.
The normalized profit margin fell to 0.9% from 0.9% in the year-earlier period.
Total revenue climbed on an annual basis to $2.24 billion from $2.14 billion, and total operating expenses grew year over year to $2.19 billion from $2.09 billion.
Reported net income fell 28.5% on an annual basis to $14.4 million, or 28 cents per share, from $20.1 million, or 38 cents per share.
