Sonic Automotive, Inc. (NYSE:SAH) Q1 2022 Earnings Conference Call April 28, 2022 11:00 AM ET

Company Participants

David Smith - Chief Executive Officer

Jeff Dyke - President

Heath Byrd - Chief Financial Officer

Tim Keen - Chief Operating Officer of EchoPark

Steve Wittman - Chief Digital Retail Officer

Danny Wieland - Vice President of Investor Relations

Conference Call Participants

Aileen Smith - Bank of America

Rajat Gupta - JP Morgan Chase

Ethan Huntley - Jefferies

Joe Enderlin - Stephens

Operator

Good morning, and welcome to the Sonic Automotive First Quarter 2022 Earnings Conference Call. This conference call is being recorded today, Thursday, April 28, 2022. Presentation materials, which accompany management's decisions on the conference call can be accessed at the company's Web site 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 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 Exchange and 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, and good morning everyone, and welcome to Sonic Automotive's first 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 Chief Operating Officer of EchoPark, Mr. Tim Keen; our Chief Digital Retail Officer, Mr. Steve Whitman; and our Vice President of Investor Relations, Mr. Danny Wieland.

Building on our record-breaking results in 2021, today, we reported record first quarter 2022 revenues and earnings per share, driven by strong customer demand, the continued execution of our operating playbooks, and a team focused on accomplishing our strategic growth plans. We also continue to expand EchoPark's nationwide footprint and digital network, while also strategically growing our franchise dealership network with our acquisition of Sun Chevrolet in Upstate New York. This performance would not have been possible without the amazing effort and execution by our Sonic and EchoPark teammates. Congratulations, and thank you all. We would also like to thank our customers, manufacturers, and vendor partners for helping us achieve another record quarter.