Sonic Automotive announced on Apr. 30 its financial results for the first quarter ended March 31, 2026, reporting record consolidated revenues and gross profit. The company stated that total revenues reached $3.7 billion, a 1% increase from the previous year, while total gross profit rose by 6% to $598.8 million.
The company highlighted several milestones in its operating segments. EchoPark achieved all-time record quarterly pre-tax income and adjusted EBITDA, with segment revenues of $580.5 million—up 4% year-over-year—and retail used vehicle unit sales volume rising by 3%. Sonic also reported that it repurchased approximately 2.1 million shares of its Class A common stock during the quarter, representing a reduction of about 6% in outstanding shares since December 31, 2025.
David Smith, Chairman and Chief Executive Officer of Sonic Automotive, said: “I am grateful for our team’s efforts in the first quarter, which delivered several first quarter and all-time quarterly records across our operating segments. Our Franchised Dealerships built on fourth quarter momentum to deliver record consolidated first quarter revenue, and our EchoPark team capitalized on a strong tax refund season to deliver an all-time record adjusted EBITDA* of $18.6 million while continuing to provide a world-class guest experience. We are also excited to expand our Powersports segment in the great riding states of California, Florida, Georgia, and North Carolina. The acquisition of five new Harley-Davidson dealerships establishes Sonic Powersports as one of the fastest growing powersports retailers in the country and reinforces our commitment to diversifying our revenue base and enhancing shareholder returns.”
Jeff Dyke, President of Sonic Automotive added: “Despite tough year-over-year comparisons, our team outperformed on several key operating metrics… At EchoPark… we remain confident in the long-term potential of the EchoPark brand and our plan to resume disciplined expansion… supported by a strategic brand marketing investment beginning in mid-2026.”
The report detailed performance across three main segments: Franchised Dealerships saw same store retail new vehicle unit sales drop by 10%, but same store fixed operations gross profit increased by 5%. The Powersports segment recorded first-quarter revenues up by 19%, though it still posted a segment loss improved from last year’s result.
Heath Byrd, Chief Financial Officer at Sonic Automotive said: “As of March 31, 2026 we had approximately $381 million in cash and floor plan deposits on hand with total liquidity of approximately $770 million.”
Looking ahead into late-2026 expansions for EchoPark locations were referenced along with additional share repurchase authorizations approved by Sonic’s Board amounting to $528 million remaining as well as an increase in quarterly cash dividend payments.
