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Sonic Automotive profit beats consensus by 17.4% in Q4

Sonic Automotive Inc. said its fourth-quarter normalized net income came to 68 cents per share, compared with the S&P Capital IQ consensus estimate of 58 cents per share.

EPS climbed 7.6% year over year from 64 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $34.4 million, an increase from $32.9 million in the prior-year period.

The normalized profit margin fell to 1.4% from 1.4% in the year-earlier period.

Total revenue increased 5.1% year over year to $2.47 billion from $2.35 billion, and total operating expenses climbed 5.1% on an annual basis to $2.40 billion from $2.28 billion.

Reported net income increased 16.0% from the prior-year period to $31.3 million, or 62 cents per share, from $27.0 million, or 52 cents per share.

For the year, the company's normalized net income totaled $2.06 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $1.92.

EPS was $2.05 in the prior year.

Normalized net income was $104.7 million, a decline from $107.7 million in the prior year.

Full-year total revenue rose from the prior-year period to $9.62 billion from $9.20 billion, and total operating expenses increased on an annual basis to $9.38 billion from $8.95 billion.

The company said reported net income decreased 10.4% on an annual basis to $88.0 million, or $1.73 per share, in the full year, from $98.3 million, or $1.87 per share.