Sonic Automotive reported all-time record quarterly revenues of $3.9 billion for the fourth quarter of 2024, an increase of 9% year-over-year. Net income for the quarter was $58.6 million, up 51%, with diluted earnings per share of $1.67, a 50% increase from Q4 2023.
The Franchised Dealerships segment achieved all-time record quarterly revenues and parts and service revenues. For the full year 2024, the EchoPark segment delivered all-time record annual adjusted EBITDA of $27.6 million, a significant turnaround from an $83.0 million loss in 2023.
The company exceeded its technician hiring goal for 2024, adding a net increase of 335 technicians. This initiative is expected to support continued growth in the high-margin Fixed Operations business. The Board of Directors approved a quarterly cash dividend of $0.35 per share, payable on April 15, 2025.
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