Sonic automotive reports q1 gaap loss per diluted share of $4.67
Sonic automotive reports 1st quarter 2020 results with all-time record echopark revenue and unit sales.q1 adjusted earnings per share $0.40 from continuing operations.q1 revenue fell 3 percent to $2.3 billion.sonic automotive - in q1 2020, co was required to record non-cash goodwill impairment charge of $268.0 million.sonic automotive - qtrly gaap loss per diluted share from continuing operations of $4.67.sonic automotive - continues to be near-term disruption from covid-19 pandemic, liquidity is strong, long-term outlook, prospects for sonic & echopark not changed.sonic automotive - since mid-march, has experienced significant decrease in overall vehicle sales volumes, service department revenue compared to prior year.sonic automotive - taken measures to bolster liquidity position, including drawing down $210 million additional cash from revolving credit facility prior to march 31.sonic automotive - one-time, non-cash goodwill impairment charge in quarter related to franchised dealerships unit.q1 revenue view $2.27 billion -- refinitiv ibes data.q1 earnings per share view $0.22 -- refinitiv ibes data.
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