CHARLOTTE, N.C. (AP) _ Sonic Automotive Inc. (SAH) on Wednesday reported fourth-quarter net income of $46.3 million.
On a per-share basis, the Charlotte, North Carolina-based company said it had net income of $1.04. Earnings, adjusted for one-time gains and costs, were 97 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 89 cents per share.
The auto dealer posted revenue of $2.75 billion in the period.
For the year, the company reported profit of $144.1 million, or $3.30 per share. Revenue was reported as $10.45 billion.
Sonic Automotive shares have decreased slightly since the beginning of the year. The stock has climbed 95% in the last 12 months.