Sonic Automotive, Inc. (NYSE:SAH) Q2 2022 Earnings Conference Call July 28, 2022 11:00 AM ET
Company Participants
David Smith - CEO
Jeff Dyke - President
Heath Byrd - CFO
Tim Keen - COO of EchoPark
Steve Wittman - Chief Digital Retail Officer
Danny Wieland - VP of IR
Conference Call Participants
Daniel Imbro - Stephens
Rajat Gupta - JPMorgan
Operator
Good morning, and welcome to the Sonic Automotive Second Quarter 2022 Earnings Conference Call. This conference call is being recorded today, Thursday, July 28, 2022. Presentation materials, which accompany management's discussion on the conference call can be accessed at the company's website at ir.sonicautomotive.com.
At this time, I would like to refer to the safe harbor statement under the Private Securities and Litigation Reform Act of 1995. During this conference call, management may discuss financial projections, information or expectations about the company's products or market or otherwise make statements about the future. Such statements are forward-looking and subject to a number of risks and uncertainties that could cause actual results to differ materially from the statements made. These risks and uncertainties are detailed in the company's filings with the Securities and Exchange Commission.
In addition, management may discuss certain non-GAAP financial measures as defined by the Securities and Exchange Commission. Please refer to the non-GAAP reconciliation tables in the company's current report on Form 8-K filed with the Securities and Exchange Commission earlier today.
I would now like to introduce Mr. David Smith, Chief Executive Officer of Sonic Automotive. Mr. Smith, you may begin your conference.
David Smith
Thank you so much, and good morning, everyone, and welcome to the Sonic Automotive second quarter 2022 earnings call. As she said, I'm David Smith, the company's CEO. Joining me on the call today is our President, Mr. Jeff Dyke; our CFO, Mr. Heath Byrd; our EchoPark Automotive Chief Operating Officer, Mr. Tim Keen; our Chief Digital Retail Officer, Mr. Steve Wittman; and our Vice President of Investor Relations, Mr. Danny Wieland.
On behalf of our entire leadership team, we want to sincerely thank our guests, teammates, manufacturer partners and communities we serve for helping us achieve another quarter of outstanding financial performance.
To briefly recap, during the second quarter 2022, Sonic generated all-time record quarterly revenues of $3.7 billion, up 9% year-over-year and net income of $94.8 million or $2.33 per diluted share. Excluding a $4.4 million onetime charge, we reported adjusted net income of $99.2 million or $2.45 per diluted share.