Sonic Automotive reports annual meeting outcomes

CHARLOTTE, NC – Sonic Automotive Inc . (NYSE:SAH), a prominent auto dealership and gasoline station company with a market capitalization of $2.03 billion and a P/E ratio of 9.48, announced the results of its annual stockholders meeting, which took place on Tuesday. According to InvestingPro data, the company has maintained dividend payments for 16 consecutive years, currently offering a 2.37% yield. The company confirmed the reelection of all nine board members, the ratification of its independent auditor, and the approval of executive compensation for the previous fiscal year.

At the meeting, shareholders voted overwhelmingly in favor of each director nominee, with David Bruton Smith receiving the most affirmative votes at 128,488,850. The least number of votes for a director was cast for R. Eugene Taylor, who still received a significant 126,806,963 votes in favor.

Additionally, the appointment of Grant Thornton LLP as the company’s independent registered public accounting firm for fiscal 2025 was ratified with a commanding 141,275,330 votes for the proposal. The advisory vote to approve the named executive officer compensation for fiscal 2024 also passed with strong support, garnering 133,618,640 votes in favor.

The definitive proxy statement detailing these proposals was filed with the U.S. Securities and Exchange Commission on March 7, 2025, and provides further information on the matters voted upon. InvestingPro analysis shows that 4 analysts have recently revised their earnings upwards for the upcoming period, with price targets ranging from $60 to $100 per share.

The confirmation of these results marks another step in Sonic Automotive’s ongoing corporate governance and oversight. The company, incorporated in Delaware and headquartered in Charlotte, North Carolina, operates under the SIC code for Retail-Auto Dealers & Gasoline Stations.

This news is based on a press release statement and reflects the most recent corporate decisions as reported in the company’s Form 8-K filing with the SEC. Sonic Automotive continues to uphold its commitment to transparency and shareholder engagement as it moves forward with its business operations in 2025. For a comprehensive analysis of SAH’s financial health, valuation metrics, and growth prospects, investors can access the detailed Pro Research Report available on InvestingPro, which covers over 1,400 US equities with expert insights and actionable intelligence.

In other recent news, Sonic Automotive Inc. reported its first-quarter 2025 earnings, highlighting a record consolidated total revenue of $3.7 billion, which exceeded the forecast of $3.47 billion. The company’s adjusted earnings per share (EPS) were $1.48, slightly below the expected $1.42. Sonic Automotive’s EchoPark segment showed a 5% increase in retail unit sales, contributing to the company’s strong sales performance despite the minor EPS miss. The company’s leadership emphasized a cautious outlook due to market uncertainties, including potential tariff impacts, but remains focused on expansion and strategic initiatives. Analysts from firms such as Bank of America and Jefferies discussed the impacts of tariffs and the company’s adjustments in response to market dynamics. Sonic Automotive plans to expand its EchoPark stores later in the year while maintaining its strategic goals. The company also announced a quarterly cash dividend of $0.35 per share, reflecting its commitment to shareholder returns.

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