Sonic Automotive, Inc. (NYSE:SAH) reported a second-quarter 2024 total revenue decline of 5.5% year-over-year to $3.453 billion, missing the consensus estimate of $3.583 billion. The company reported adjusted earnings per share of $1.47 (-20% YoY), beating the street view of $1.38. Franchised Dealerships segment operating results include same-store revenues declining 3% and same-store gross profit decreasing 9%. Quarterly gross profit fell 5.2% year over year to $539.1 million, and the gross margin stood at 15.6% (flat YoY). Operating income increased 38% YoY to $107.7 million, and the margin expanded 100 bps to 3.1%. The company’s EchoPark segment revenues of $517.3 million fell 14% year over year, with ...