Sonic Automotive Reports Second Quarter 2026 Financial Results

Key Terms

non-gaap financial measure financial

A non-GAAP financial measure is a way companies present their financial results that excludes certain expenses or income to show how they believe their core business is performing. It matters because it can give a clearer picture of how the company is really doing, but it can also be used to make results look better than they actually are.

adjusted ebitda financial

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

sg&a expenses financial

SG&A expenses are the costs a company spends on things like sales, marketing, and running the business that aren’t directly tied to making products. These expenses matter because they affect how much profit a company can keep after covering all its day-to-day operations. Think of it like the money spent on advertising or paying staff that helps the business grow and stay competitive.

f&i gross profit financial

F&I gross profit is the total profit a seller—commonly an auto dealer—earns from finance and insurance products sold with a transaction, such as loan markups, extended warranties, gap insurance, and service contracts. It matters to investors because it represents a high-margin, often recurring revenue stream separate from the sale price of an asset; think of it like the extra earnings a store makes from add-on warranties and credit fees that boost overall profitability.

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Sonic Reported Second Quarter Record Consolidated Revenues and All-Time Record Quarterly Gross Profit

EchoPark Segment Retail Unit Sales Volume Increased 17% Year-Over-Year, Driving Second Quarter Record Segment Gross Profit

CHARLOTTE, N.C.--(BUSINESS WIRE)-- Sonic Automotive, Inc. (“Sonic Automotive,” “Sonic,” the “Company,” “we,” “us” or “our”) (NYSE:SAH), one of the nation’s largest automotive retailers, today reported financial results for the second quarter ended June 30, 2026.

Second Quarter 2026 Financial Summary

• Second quarter total revenues of $3.9 billion, up 8% year-over-year; second quarter record total gross profit of $616.2 million, up 2% year-over-year
• Reported net income in the second quarter was $57.4 million, up 226% year-over-year ($1.79 earnings per diluted share, up 234% year-over-year)
  • Adjusted net income^* for the second quarter of 2026 was $58.3 million, down 23% year-over-year ($1.82 adjusted earnings per diluted share^*, down 17% year-over-year)
• Total reported selling, general and administrative (“SG&A”) expenses as a percentage of gross profit of 72.2% (71.9% on a Franchised Dealerships Segment basis, 73.4% on an EchoPark Segment basis, and 73.5% on a Powersports Segment basis)
  • Total adjusted SG&A expenses as a percentage of gross profit^* of 72.0% (71.7% on a Franchised Dealerships Segment basis, 73.4% on an EchoPark Segment basis, and 73.5% on a Powersports Segment basis)
• EchoPark Segment revenues of $582.9 million, up 15% year-over-year; second quarter record EchoPark Segment total gross profit of $64.3 million, up 4% year-over-year; EchoPark Segment retail used vehicle unit sales volume of 19,601, up 17% year-over-year
• Reported EchoPark Segment income of $7.2 million, as compared to $11.7 million in the prior year period, a 38% decrease year-over-year
  • Adjusted EchoPark Segment income^* of $7.2 million, as compared to $10.9 million in the prior year period, a 34% decrease year-over-year
• EchoPark Segment adjusted EBITDA^* of $13.9 million, as compared to $16.4 million in the prior year period, down 15% year-over-year
• Previously announced acquisition of Space Coast Harley-Davidson, Treasure Coast Harley-Davidson, Falcons Fury Harley-Davidson, Raging Bull Harley-Davidson, and San Diego Harley-Davidson in April 2026 is expected to add approximately $100 million in annualized revenue to Sonic's Powersports Segment
• Sonic’s Board of Directors approved a quarterly cash dividend of $0.41 per share, payable on October 15, 2026 to all stockholders of record on September 15, 2026

* Represents a non-GAAP financial measure — please refer to the discussion and reconciliation of non-GAAP financial measures below.

Commentary

David Smith, Chairman and Chief Executive Officer of Sonic Automotive, stated, “Our second quarter performance reflects the strength of Sonic’s diversified business model and the commitment of our teammates across the organization. We generated second quarter record consolidated revenues of $3.9 billion and all-time record quarterly gross profit of $616.2 million, driven by growth across our diversified operating segments. EchoPark delivered double-digit unit volume growth and second quarter record gross profit, while Powersports achieved record second quarter revenue and gross profit. Our latest results and outlook reaffirm our commitment to investing in differentiated platforms that broaden our earnings base and position Sonic to create sustainable long-term value for our stockholders.”

Jeff Dyke, President of Sonic Automotive, commented, “Our teams executed well in a quarter that included difficult year-over-year comparisons and a challenging consumer affordability backdrop. Our continued focus on opportunities in our used vehicle and fixed operations businesses led to our Franchised Dealerships segment delivering strong used vehicle volume growth and all-time record quarterly fixed operations gross profit, along with second quarter record F&I gross profit. At EchoPark, retail used vehicle volume increased 17% year-over-year, driving revenue and gross profit growth despite lower total gross profit per unit. We remain focused on improving our inventory sourcing mix, optimizing F&I performance, and positioning EchoPark for disciplined footprint expansion beginning in the fourth quarter of 2026.”

Heath Byrd, Chief Financial Officer of Sonic Automotive, added, “We ended the quarter with approximately $294 million of cash and floor plan deposits and approximately $676 million of total available liquidity resources. Our balance sheet and liquidity position provide the flexibility to fund our existing operations, support targeted growth investments and return capital to stockholders. We will continue to apply a disciplined approach to capital allocation, balancing strategic acquisitions, organic investment and share repurchases as opportunities arise and market conditions evolve.”

Second Quarter 2026 Segment Highlights

The financial measures discussed below are results for the second quarter of 2026 with comparisons made to the second quarter of 2025, unless otherwise noted.

• Franchised Dealerships Segment operating results include:
  • Same store revenues up 2%; same store gross profit down 3%
  • Same store retail new vehicle unit sales volume was flat; same store retail new vehicle gross profit per unit down 16%, to $2,872
  • Same store retail used vehicle unit sales volume up 7%; same store retail used vehicle gross profit per unit down 13%, to $1,401
  • Same store parts, service and collision repair (“Fixed Operations”) gross profit up 2%; same store customer pay gross profit up 1%; same store warranty gross profit up 3%; same store Fixed Operations gross profit margin down 30 basis points, to 51.0%
  • Same store finance and insurance (“F&I”) gross profit down 1%; same store F&I gross profit per retail unit of $2,619, down 4%
  • On a trailing quarter cost of sales basis, the Franchised Dealerships Segment had 56 days’ supply of new vehicle inventory (including in-transit) and 35 days’ supply of used vehicle inventory
• EchoPark Segment operating results include:
  • Revenues of $582.9 million, up 15%; gross profit of $64.3 million, up 4%
  • Retail used vehicle unit sales volume of 19,601, up 17%
  • Quarterly reported segment income of $7.2 million, quarterly adjusted segment income^* of $7.2 million, and quarterly adjusted EBITDA^* of $13.9 million
  • On a trailing quarter cost of sales basis, the EchoPark Segment had 47 days’ supply of used vehicle inventory
• Powersports Segment operating results include:
  • Second quarter record revenues of $73.5 million, up 53%; second quarter record gross profit of $19.7 million, up 58%
  • Segment income of $2.3 million, compared to breakeven in the prior year period, and adjusted EBITDA* of $4.9 million, a 145% improvement from adjusted EBITDA^* of $2.0 million in the prior year period

* Represents a non-GAAP financial measure — please refer to the discussion and reconciliation of non-GAAP financial measures below.

Dividend

Sonic’s Board of Directors approved a quarterly cash dividend of $0.41 per share, payable on October 15, 2026 to all stockholders of record on September 15, 2026.

Second Quarter 2026 Earnings Conference Call

Senior management will hold a conference call today at 11:00 A.M. (Eastern). Investor presentation and earnings press release materials will be accessible beginning prior to the conference call on the Company’s website at ir.sonicautomotive.com.

To access the live webcast of the conference call, please go to ir.sonicautomotive.com and select the webcast link at the top of the page. For telephone access to this conference call, please dial (877) 407-8289 (domestic) or +1 (201) 689-8341 (international) and ask to be connected to the Sonic Automotive Second Quarter 2026 Earnings Conference Call. Dial-in access remains available throughout the live call; however, to ensure you are connected for the full call we suggest dialing in at least 10 minutes before the start of the call. A webcast replay will be available following the call for 14 days at ir.sonicautomotive.com.

About Sonic Automotive

For more than 60 years, Sonic Automotive has pursued a single purpose: to deliver an experience for our guests and our teammates that fulfills dreams, enriches lives, and delivers happiness. We don’t simply sell and service vehicles. We help people pursue their dreams, whether it’s a guest purchasing their first vehicle, a family creating lifelong memories, or a teammate building a meaningful career.

Founded in 1966 by Bruton Smith, the company has grown into a Fortune 300 company under the leadership of Chairman and CEO David B. Smith. Today, more than 11,000 teammates bring the company’s purpose to life across a nationwide network of 173 automotive and powersports franchises in 145 locations in 90 cities and 21 states. We are proud to represent 24 automotive and 15 powersports brands and have helped more than 7 million guests purchase vehicles, delivered over 40 million service experiences, and earned more than 1 million 5-star reviews by consistently putting people first.

At Sonic Automotive, we believe trust isn’t claimed – it’s earned through transparency, consistency, integrity, and genuine care. That’s why we were the only automotive and powersports retailer recognized by Newsweek as one of America’s Most Trustworthy Companies in 2026. As the automotive and powersports industries continue to evolve, our mission remains constant: to innovate, lead with integrity, and create exceptional experiences that inspire confidence, build lifelong relationships, and positively impact every life we touch.

Sonic Automotive. Driven By People. Inspired By Purpose. For more information, visit www.sonicautomotive.com and ir.sonicautomotive.com.

Forward-Looking Statements

Included herein are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements address our future objectives, plans and goals, as well as our intent, beliefs and current expectations regarding future operating performance, results and events, and can generally be identified by words such as “may,” “will,” “should,” “could,” “believe,” “expect,” “estimate,” “anticipate,” “intend,” “plan,” “foresee” and other similar words or phrases. You should not place undue reliance on these statements, and you are cautioned that these forward-looking statements are not guarantees of future performance. There are many factors that affect management’s views about future events and trends of the Company’s business. These factors involve risks and uncertainties that could cause actual results or trends to differ materially from management’s views, including, without limitation, the effects of tariffs on vehicle and parts pricing and supply, the effects of tariffs on consumer demand, economic conditions in the markets in which we operate, supply chain disruptions and manufacturing delays, labor shortages, the impacts of inflation and changes in interest rates, new and used vehicle industry sales volume, future levels of consumer demand for new and used vehicles, anticipated future growth in each of our operating segments, the success of our operational strategies and investment in new technologies, the rate and timing of overall economic expansion or contraction, the integration of acquisitions, cybersecurity incidents and other disruptions to our information systems, and the risk factors described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 and other reports and information filed with the United States Securities and Exchange Commission (the “SEC”). The Company does not undertake any obligation to update forward-looking information, except as required under federal securities laws and the rules and regulations of the SEC. Due to rounding, numbers presented throughout this and other documents may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.

Non-GAAP Financial Measures

This press release and the attached financial tables contain certain non-GAAP financial measures as defined under SEC rules, such as adjusted net income, adjusted earnings per diluted share, adjusted SG&A expenses, adjusted SG&A expenses as a percentage of gross profit, adjusted segment income (loss), and adjusted EBITDA (loss). As required by SEC rules, the Company has provided reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures in the schedules included in this press release. The Company believes that these non-GAAP financial measures improve the transparency of the Company’s disclosures and provide a meaningful presentation of the Company’s results.

Sonic Automotive, Inc. Results of Operations (Unaudited)
Results of Operations - Consolidated
	Three Months Ended June 30,								Better / (Worse)			Six Months Ended June 30,								Better / (Worse)
		2026				2025			% Change				2026				2025			% Change
	(In millions, except per share amounts)
Revenues:
Retail new vehicles	$	1,769.3			$	1,666.1			6	%		$	3,376.8			$	3,322.4			2	%
Fleet new vehicles		24.8				29.4			NM				45.4				51.5			NM
Total new vehicles		1,794.1				1,695.5			6	%			3,422.2				3,373.9			1	%
Used vehicles		1,329.7				1,180.7			13	%			2,599.3				2,405.7			8	%
Wholesale vehicles		70.5				83.3			NM				142.1				166.1			NM
Total vehicles		3,194.3				2,959.5			8	%			6,163.6				5,945.7			4	%
Parts, service and collision repair		530.2				495.6			7	%			1,046.9				970.0			8	%
Finance, insurance and other, net		209.5				202.1			4	%			412.0				392.8			5	%
Total revenues		3,934.0				3,657.2			8	%			7,622.5				7,308.5			4	%
Cost of sales:
Retail new vehicles		(1,677.9	)			(1,566.9	)		(7	)%			(3,200.9	)			(3,133.8	)		(2	)%
Fleet new vehicles		(24.3	)			(28.9	)		NM				(44.6	)			(50.4	)		NM
Total new vehicles		(1,702.2	)			(1,595.8	)		(7	)%			(3,245.5	)			(3,184.2	)		(2	)%
Used vehicles		(1,283.1	)			(1,132.6	)		(13	)%			(2,504.3	)			(2,311.3	)		(8	)%
Wholesale vehicles		(73.7	)			(84.9	)		NM				(146.9	)			(168.8	)		NM
Total vehicles		(3,059.0	)			(2,813.3	)		(9	)%			(5,896.7	)			(5,664.3	)		(4	)%
Parts, service and collision repair		(258.8	)			(241.7	)		(7	)%			(510.9	)			(475.5	)		(7	)%
Total cost of sales		(3,317.8	)			(3,055.0	)		(9	)%			(6,407.6	)			(6,139.8	)		(4	)%
Gross profit		616.2				602.2			2	%			1,214.9				1,168.7			4	%
Selling, general and administrative expenses		(444.6	)			(412.6	)		(8	)%			(871.6	)			(792.9	)		(10	)%
Impairment charges		—				(172.4	)		NM				(0.4	)			(173.8	)		NM
Depreciation and amortization		(40.0	)			(40.5	)		1	%			(78.6	)			(80.4	)		2	%
Operating income (loss)		131.6				(23.3	)		665	%			264.3				121.6			117	%
Other income (expense):
Interest expense, floor plan		(20.9	)			(18.3	)		(14	)%			(40.2	)			(38.3	)		(5	)%
Interest expense, other, net		(30.4	)			(27.4	)		(11	)%			(58.7	)			(55.0	)		(7	)%
Other income (expense), net		—				(0.1	)		NM				—				—			NM
Total other income (expense)		(51.3	)			(45.8	)		(12	)%			(98.9	)			(93.3	)		(6	)%
Income (loss) before taxes		80.3				(69.1	)		216	%			165.4				28.3			484	%
Provision for income taxes - benefit (expense)		(22.9	)			23.5			(197	)%			(47.1	)			(3.3	)		(1,327	)%
Net income (loss)	$	57.4			$	(45.6	)		226	%		$	118.3			$	25.0			373	%
Basic earnings (loss) per common share	$	1.82			$	(1.34	)		236	%		$	3.63			$	0.74			391	%
Basic weighted-average common shares outstanding		31.6				34.1			7	%			32.6				34.0			4	%
Diluted earnings (loss) per common share	$	1.79			$	(1.34	)		234	%		$	3.58			$	0.72			397	%
Diluted weighted-average common shares outstanding		32.1				34.1			6	%			33.0				34.7			5	%
Dividends declared per common share	$	0.41			$	0.35			17	%		$	0.79			$	0.70			13	%
NM = Not Meaningful

Franchised Dealerships Segment - Reported
	Three Months Ended June 30,								Better / (Worse)			Six Months Ended June 30,								Better / (Worse)
		2026				2025			% Change				2026				2025			% Change
	(In millions, except unit and per unit data)
Revenues:
Retail new vehicles	$	1,731.4			$	1,639.1			6	%		$	3,316.6			$	3,276.1			1	%
Fleet new vehicles		24.8				29.5			NM				45.4				51.5			NM
Total new vehicles		1,756.2				1,668.6			5	%			3,362.0				3,327.6			1	%
Used vehicles		814.3				744.9			9	%			1,582.9				1,490.6			6	%
Wholesale vehicles		43.7				57.8			NM				87.8				112.2			NM
Total vehicles		2,614.2				2,471.3			6	%			5,032.7				4,930.4			2	%
Parts, service and collision repair		515.5				484.9			6	%			1,024.8				952.4			8	%
Finance, insurance and other, net		147.9				144.3			2	%			287.2				274.9			4	%
Total revenues		3,277.6				3,100.5			6	%			6,344.7				6,157.7			3	%
Gross Profit:
Retail new vehicles		85.9				95.2			(10	)%			167.1				182.0			(8	)%
Fleet new vehicles		0.4				0.6			NM				0.9				1.1			NM
Total new vehicles		86.3				95.8			(10	)%			168.0				183.1			(8	)%
Used vehicles		37.0				39.5			(6	)%			77.5				79.4			(2	)%
Wholesale vehicles		(2.9	)			(0.9	)		NM				(4.7	)			(1.9	)		NM
Total vehicles		120.4				134.4			(10	)%			240.8				260.6			(8	)%
Parts, service and collision repair		263.8				248.9			6	%			524.9				486.1			8	%
Finance, insurance and other, net		147.9				144.3			2	%			287.2				274.9			4	%
Total gross profit		532.1				527.6			1	%			1,052.9				1,021.6			3	%
Selling, general and administrative expenses		(382.9	)			(360.2	)		(6	)%			(757.3	)			(686.1	)		(10	)%
Impairment charges		—				(165.9	)		NM				(0.4	)			(165.9	)		NM
Depreciation and amortization		(31.9	)			(34.1	)		6	%			(63.7	)			(67.5	)		6	%
Operating income (loss)		117.3				(32.6	)		460	%			231.5				102.1			127	%
Other income (expense):
Interest expense, floor plan		(17.3	)			(15.3	)		(13	)%			(33.3	)			(31.6	)		(5	)%
Interest expense, other, net		(29.2	)			(26.3	)		(11	)%			(56.5	)			(52.9	)		(7	)%
Other income (expense), net		(0.1	)			(0.1	)		NM				—				0.1			NM
Total other income (expense)		(46.6	)			(41.7	)		(12	)%			(89.8	)			(84.4	)		(6	)%
Income (loss) before taxes		70.7				(74.3	)		195	%			141.7				17.7			701	%
Add: Impairment charges		—				165.9			NM				0.4				165.9			NM
Segment income	$	70.7			$	91.6			(23	)%		$	142.1			$	183.6			(23	)%
Unit Sales Volume:
Retail new vehicles		28,403				28,084			1	%			54,233				56,166			(3	)%
Fleet new vehicles		452				571			(21	)%			789				954			(17	)%
Total new vehicles		28,855				28,655			1	%			55,022				57,120			(4	)%
Used vehicles		26,444				24,953			6	%			52,779				50,394			5	%
Wholesale vehicles		5,001				6,213			(20	)%			9,714				12,408			(22	)%
Retail new & used vehicles		54,847				53,037			3	%			107,012				106,560			—	%
Used-to-New Ratio		0.93				0.89			4	%			0.97				0.90			8	%
Gross Profit Per Unit:
Retail new vehicles	$	3,024			$	3,391			(11	)%		$	3,081			$	3,240			(5	)%
Fleet new vehicles	$	962			$	918			5	%		$	1,091			$	1,129			(3	)%
New vehicles	$	2,992			$	3,342			(10	)%		$	3,053			$	3,205			(5	)%
Used vehicles	$	1,399			$	1,583			(12	)%		$	1,469			$	1,575			(7	)%
Finance, insurance and other, net	$	2,697			$	2,721			(1	)%		$	2,684			$	2,580			4	%
NM = Not Meaningful Note: Reported Franchised Dealerships Segment results include (i) same store results from the “Franchised Dealerships Segment - Same Store” table below and (ii) the effects of acquisitions, open points, dispositions and holding company impacts for the periods reported. All currently operating franchised dealership stores are included within the same store group as of the first full month following the first anniversary of the store’s opening or acquisition.

Franchised Dealerships Segment - Same Store
	Three Months Ended June 30,								Better / (Worse)			Six Months Ended June 30,								Better / (Worse)
		2026				2025			% Change				2026				2025			% Change
	(In millions, except unit and per unit data)
Revenues:
Retail new vehicles	$	1,633.2			$	1,620.4			1	%		$	3,118.7			$	3,237.4			(4	)%
Fleet new vehicles		23.8				29.5			NM				42.5				51.5			NM
Total new vehicles		1,657.0				1,649.9			—	%			3,161.2				3,288.9			(4	)%
Used vehicles		795.6				732.7			9	%			1,541.8				1,465.2			5	%
Wholesale vehicles		42.0				56.7			NM				83.3				110.4			NM
Total vehicles		2,494.6				2,439.3			2	%			4,786.3				4,864.5			(2	)%
Parts, service and collision repair		492.6				479.5			3	%			976.2				941.7			4	%
Finance, insurance and other, net		140.1				141.8			(1	)%			270.8				270.1			—	%
Total revenues		3,127.3				3,060.6			2	%			6,033.3				6,076.3			(1	)%
Gross Profit:
Retail new vehicles		79.0				94.7			(17	)%			153.3				181.3			(15	)%
Fleet new vehicles		0.4				0.5			NM				1.0				1.1			NM
Total new vehicles		79.5				95.3			(17	)%			154.2				182.4			(15	)%
Used vehicles		36.4				39.4			(8	)%			75.7				78.9			(4	)%
Wholesale vehicles		(2.8	)			(0.8	)		NM				(4.5	)			(1.5	)		NM
Total vehicles		113.1				133.9			(16	)%			225.4				259.8			(13	)%
Parts, service and collision repair		251.5				246.0			2	%			498.6				480.5			4	%
Finance, insurance and other, net		140.1				141.8			(1	)%			270.8				270.1			—	%
Total gross profit	$	504.7			$	521.7			(3	)%		$	994.8			$	1,010.4			(2	)%
Unit Sales Volume:
Retail new vehicles		27,515				27,613			—	%			52,240				55,211			(5	)%
Fleet new vehicles		443				571			(22	)%			760				954			(20	)%
Total new vehicles		27,958				28,184			(1	)%			53,000				56,165			(6	)%
Used vehicles		25,990				24,397			7	%			51,626				49,229			5	%
Wholesale vehicles		4,904				6,056			(19	)%			9,423				12,024			(22	)%
Retail new & used vehicles		53,505				52,010			3	%			103,866				104,440			(1	)%
Used-to-New Ratio		0.94				0.88			7	%			0.99				0.89			11	%
Gross Profit Per Unit:
Retail new vehicles	$	2,872			$	3,431			(16	)%		$	2,934			$	3,283			(11	)%
Fleet new vehicles	$	975			$	918			6	%		$	1,284			$	1,129			14	%
New vehicles	$	2,842			$	3,380			(16	)%		$	2,910			$	3,247			(10	)%
Used vehicles	$	1,401			$	1,615			(13	)%		$	1,467			$	1,603			(8	)%
Finance, insurance and other, net	$	2,619			$	2,727			(4	)%		$	2,607			$	2,587			1	%
Note: All currently operating franchised dealership stores are included within the same store group as of the first full month following the first anniversary of the store’s opening or acquisition.

EchoPark Segment - Reported
	Three Months Ended June 30,								Better / (Worse)			Six Months Ended June 30,								Better / (Worse)
		2026				2025			% Change				2026				2025			% Change
	(In millions, except unit and per unit data)
Revenues:
Used vehicles	$	499.0			$	427.4			17	%		$	990.8			$	901.1			10	%
Wholesale vehicles		25.8				25.4			NM				53.1				52.8			NM
Total vehicles		524.8				452.8			16	%			1,043.9				953.9			9	%
Finance, insurance and other, net		58.1				55.8			4	%			119.5				114.5			4	%
Total revenues		582.9				508.6			15	%			1,163.4				1,068.4			9	%
Gross Profit:
Used vehicles		6.4				6.9			(7	)%			12.7				12.3			3	%
Wholesale vehicles		(0.2	)			(0.6	)		NM				0.1				(0.8	)		NM
Total vehicles		6.2				6.3			(2	)%			12.8				11.5			11	%
Finance, insurance and other, net		58.1				55.8			4	%			119.5				114.5			4	%
Total gross profit		64.3				62.1			4	%			132.3				126.0			5	%
Selling, general and administrative expenses		(47.3	)			(42.2	)		(12	)%			(90.0	)			(87.0	)		(3	)%
Impairment charges		—				—			NM				—				(0.2	)		NM
Depreciation and amortization		(6.3	)			(5.2	)		(21	)%			(12.1	)			(10.5	)		(15	)%
Operating income (loss)		10.7				14.7			(27	)%			30.2				28.3			7	%
Other income (expense):
Interest expense, floor plan		(3.2	)			(2.6	)		(23	)%			(6.2	)			(5.8	)		(7	)%
Interest expense, other, net		(0.3	)			(0.4	)		25	%			(0.6	)			(0.8	)		25	%
Other income (expense), net		—				—			NM				—				0.1			NM
Total other income (expense)		(3.5	)			(3.0	)		(17	)%			(6.8	)			(6.5	)		(5	)%
Income before taxes		7.2				11.7			(38	)%			23.4				21.8			7	%
Add: Impairment charges		—				—			NM				—				0.2			NM
Segment income	$	7.2			$	11.7			(38	)%		$	23.4			$	22.0			6	%
Unit Sales Volume:
Used vehicles		19,601				16,742			17	%			38,927				35,540			10	%
Wholesale vehicles		3,468				3,097			12	%			6,595				6,247			6	%
Gross Profit Per Unit:
Total used vehicle and F&I	$	3,292			$	3,747			(12	)%		$	3,396			$	3,569			(5	)%
NM = Not Meaningful

EchoPark Segment - Same Market
	Three Months Ended June 30,								Better / (Worse)			Six Months Ended June 30,							Better / (Worse)
		2026				2025			% Change				2026			2025			% Change
	(In millions, except unit and per unit data)
Revenues:
Used vehicles	$	499.0			$	427.5			17	%		$	990.8		$	901.2			10	%
Wholesale vehicles		25.8				25.4			NM				53.2			52.8			NM
Total vehicles		524.8				452.9			16	%			1,044.0			954.0			9	%
Finance, insurance and other, net		58.3				56.1			4	%			119.9			115.2			4	%
Total revenues		583.1				509.0			15	%			1,163.9			1,069.2			9	%
Gross Profit:
Used vehicles		6.4				7.0			(9	)%			12.8			12.4			3	%
Wholesale vehicles		(0.2	)			(0.7	)		NM				0.1			(0.9	)		NM
Total vehicles		6.2				6.3			(2	)%			12.9			11.5			12	%
Finance, insurance and other, net		58.3				56.1			4	%			119.9			115.2			4	%
Total gross profit	$	64.5			$	62.4			3	%		$	132.8		$	126.7			5	%
Unit Sales Volume:
Used vehicles		19,601				16,742			17	%			38,927			35,540			10	%
Wholesale vehicles		3,468				3,097			12	%			6,595			6,247			6	%
Gross Profit Per Unit:
Total used vehicle and F&I	$	3,303			$	3,769			(12	)%		$	3,410		$	3,591			(5	)%
Note: All currently operating EchoPark stores in a local geographic market are included within the same market group as of the first full month following the first anniversary of the market's opening.

Powersports Segment - Reported
	Three Months Ended June 30,								Better / (Worse)			Six Months Ended June 30,								Better / (Worse)
		2026				2025			% Change				2026				2025			% Change
	(In millions, except unit and per unit data)
Revenues:
Retail new vehicles	$	37.9			$	26.9			41	%		$	60.2			$	46.3			30	%
Used vehicles		16.4				8.3			98	%			25.6				14.0			83	%
Wholesale vehicles		1.0				0.3			NM				1.2				1.1			NM
Total vehicles		55.3				35.5			56	%			87.0				61.4			42	%
Parts, service and collision repair		14.7				10.6			39	%			22.1				17.6			26	%
Finance, insurance and other, net		3.5				2.0			75	%			5.3				3.4			56	%
Total revenues		73.5				48.1			53	%			114.4				82.4			39	%
Gross Profit:
Retail new vehicles		5.5				3.9			41	%			8.8				6.6			33	%
Used vehicles		3.2				1.6			100	%			4.8				2.7			78	%
Wholesale vehicles		(0.1	)			—			NM				(0.2	)			—			NM
Total vehicles		8.6				5.5			56	%			13.4				9.3			44	%
Parts, service and collision repair		7.6				5.0			52	%			11.1				8.4			32	%
Finance, insurance and other, net		3.5				2.0			75	%			5.3				3.4			56	%
Total gross profit		19.7				12.5			58	%			29.8				21.1			41	%
Selling, general and administrative expenses		(14.5	)			(10.2	)		(42	)%			(24.3	)			(19.8	)		(23	)%
Impairment charges		—				(6.5	)		NM				—				(7.6	)		NM
Depreciation and amortization		(1.7	)			(1.2	)		(42	)%			(2.9	)			(2.5	)		(16	)%
Operating income (loss)		3.5				(5.4	)		165	%			2.6				(8.8	)		130	%
Other income (expense):
Interest expense, floor plan		(0.3	)			(0.4	)		25	%			(0.7	)			(0.9	)		22	%
Interest expense, other, net		(0.8	)			(0.7	)		(14	)%			(1.6	)			(1.4	)		(14	)%
Other income (expense), net		(0.1	)			—			NM				—				—			NM
Total other income (expense)		(1.2	)			(1.1	)		(9	)%			(2.3	)			(2.3	)		—	%
Income (loss) before taxes		2.3				(6.5	)		135	%			0.3				(11.1	)		103	%
Add: Impairment charges		—				6.5			NM				—				7.6			NM
Segment income (loss)	$	2.3			$	—			100	%		$	0.3			$	(3.5	)		109	%
Unit Sales Volume:
Retail new vehicles		1,775				1,394			27	%			2,899				2,387			21	%
Used vehicles		1,317				817			61	%			2,149				1,395			54	%
Wholesale vehicles		70				58			21	%			119				118			1	%
Gross Profit Per Unit:
Retail new vehicles	$	3,107			$	2,828			10	%		$	3,023			$	2,767			9	%
Used vehicles	$	2,402			$	2,014			19	%		$	2,222			$	1,935			15	%
Finance, insurance and other, net	$	1,125			$	889			27	%		$	1,040			$	912			14	%
NM = Not Meaningful

Powersports Segment - Same Store
	Three Months Ended June 30,						Better / (Worse)			Six Months Ended June 30,								Better / (Worse)
	2026			2025			% Change			2026				2025				% Change
	(In millions, except unit and per unit data)
Revenues:
Retail new vehicles	$	28.6		$	26.9		6	%		$	50.8			$	45.8			11	%
Used vehicles		11.6			8.3		40	%			20.8				13.5			54	%
Wholesale vehicles		0.8			0.3		NM				1.2				1.0			NM
Total vehicles		41.0			35.5		15	%			72.8				60.3			21	%
Parts, service and collision repair		11.1			10.6		5	%			18.4				17.2			7	%
Finance, insurance and other, net		2.4			2.0		20	%			4.2				3.4			24	%
Total revenues		54.5			48.1		13	%			95.4				80.9			18	%
Gross Profit:
Retail new vehicles		4.2			3.9		8	%			7.4				6.6			12	%
Used vehicles		2.0			1.6		25	%			3.7				2.6			42	%
Wholesale vehicles		—			0.1		NM				(0.2	)			(0.1	)		NM
Total vehicles		6.2			5.6		11	%			10.9				9.1			20	%
Parts, service and collision repair		5.5			4.9		12	%			9.1				8.2			11	%
Finance, insurance and other, net		2.4			2.0		20	%			4.2				3.4			24	%
Total gross profit	$	14.1		$	12.5		13	%		$	24.2			$	20.7			17	%
Unit Sales Volume:
Retail new vehicles		1,433			1,394		3	%			2,557				2,363			8	%
Used vehicles		975			817		19	%			1,807				1,350			34	%
Wholesale vehicles		58			56		4	%			107				116			(8	)%
Retail new & used vehicles		2,408			2,211		9	%			4,364				3,713			18	%
Used-to-New Ratio		0.68			0.59		15	%			0.71				0.57			25	%
Gross Profit Per Unit:
Retail new vehicles	$	2,925		$	2,822		4	%		$	2,910			$	2,776			5	%
Used vehicles	$	2,092		$	2,014		4	%		$	2,021			$	1,929			5	%
Finance, insurance and other, net	$	995		$	890		12	%		$	955			$	915			4	%
Note: All currently operating powersports stores are included within the same store group as of the first full month following the first anniversary of the store’s opening or acquisition.

Non-GAAP Reconciliation - Consolidated - SG&A Expenses
	Three Months Ended June 30,								Better / (Worse)
		2026				2025			Change				% Change
	(In millions)
Reported:
Compensation	$	277.1			$	264.8			$	(12.3	)		(5	)%
Advertising		28.5				24.4				(4.1	)		(17	)%
Rent		13.1				9.9				(3.2	)		(32	)%
Other		125.9				113.5				(12.4	)		(11	)%
Total SG&A expenses	$	444.6			$	412.6			$	(32.0	)		(8	)%
Adjustments:
Acquisition and disposition-related gain (loss)	$	—			$	(1.6	)
Cyber insurance proceeds		—				10.0
Storm damage charges		(1.2	)			(4.1	)
Total SG&A adjustments	$	(1.2	)		$	4.3
Adjusted:
Total adjusted SG&A expenses	$	443.4			$	416.9			$	(26.5	)		(6	)%
Reported:
SG&A expenses as a % of gross profit:
Compensation		45.0	%			44.0	%			(100	)	bps
Advertising		4.6	%			4.1	%			(50	)	bps
Rent		2.1	%			1.6	%			(50	)	bps
Other		20.5	%			18.8	%			(170	)	bps
Total SG&A expenses as a % of gross profit		72.2	%			68.5	%			(370	)	bps
Adjustments:
Acquisition and disposition-related gain (loss)		—	%			(0.3	)%
Cyber insurance proceeds		—	%			1.7	%
Storm damage charges		(0.2	)%			(0.7	)%
Total effect of adjustments		(0.2	)%			0.7	%
Adjusted:
Total adjusted SG&A expenses as a % of gross profit		72.0	%			69.2	%			(280	)	bps
Reported:
Total gross profit	$	616.2			$	602.2			$	14.0			2	%

	Six Months Ended June 30,								Better / (Worse)
		2026				2025			Change				% Change
	(In millions)
Reported:
Compensation	$	551.3			$	523.3			$	(28.0	)		(5	)%
Advertising		55.8				48.2				(7.6	)		(16	)%
Rent		22.8				20.1				(2.7	)		(13	)%
Other		241.7				201.3				(40.4	)		(20	)%
Total SG&A expenses	$	871.6			$	792.9			$	(78.7	)		(10	)%
Adjustments:
Acquisition and disposition-related gain (loss)	$	5.1			$	(2.6	)
Cyber insurance proceeds		—				40.0
Storm damage charges		(1.2	)			(5.0	)
Gain (loss) on exit of leased dealerships		3.6				—
Total SG&A adjustments	$	7.5			$	32.4
Adjusted:
Total adjusted SG&A expenses	$	879.1			$	825.3			$	(53.8	)		(7	)%
Reported:
SG&A expenses as a % of gross profit:
Compensation		45.4	%			44.8	%			(60	)		bps
Advertising		4.6	%			4.1	%			(50	)		bps
Rent		1.9	%			1.7	%			(20	)		bps
Other		19.8	%			17.2	%			(260	)		bps
Total SG&A expenses as a % of gross profit		71.7	%			67.8	%			(390	)		bps
Adjustments:
Acquisition and disposition-related gain (loss)		0.5	%			(0.2	)%
Cyber insurance proceeds		—	%			3.4	%
Storm damage charges		(0.1	)%			(0.4	)%
Gain (loss) on exit of leased dealerships		0.3	%			—	%
Total effect of adjustments		0.7	%			2.8	%
Adjusted:
Total adjusted SG&A expenses as a % of gross profit		72.4	%			70.6	%			(180	)	bps
Reported:
Total gross profit	$	1,214.9			$	1,168.7			$	46.2			4	%

Non-GAAP Reconciliation - Franchised Dealerships Segment - SG&A Expenses
	Three Months Ended June 30,								Better / (Worse)
		2026				2025			Change				% Change
	(In millions)
Reported:
Compensation	$	239.7			$	232.3			$	(7.4	)		(3	)%
Advertising		19.7				16.7				(3.0	)		(18	)%
Rent		12.0				9.4				(2.6	)		(28	)%
Other		111.5				101.8				(9.7	)		(10	)%
Total SG&A expenses	$	382.9			$	360.2			$	(22.7	)		(6	)%
Adjustments:
Acquisition and disposition-related gain (loss)	$	—			$	(2.4	)
Cyber insurance proceeds		—				10.0
Storm damage charges		(1.2	)			(4.1	)
Total SG&A adjustments	$	(1.2	)		$	3.5
Adjusted:
Total adjusted SG&A expenses	$	381.7			$	363.7			$	(18.0	)		(5	)%
Reported:
SG&A expenses as a % of gross profit:
Compensation		45.0	%			44.0	%			(100	)	bps
Advertising		3.7	%			3.2	%			(50	)	bps
Rent		2.3	%			1.8	%			(50	)	bps
Other		20.9	%			19.3	%			(160	)	bps
Total SG&A expenses as a % of gross profit		71.9	%			68.3	%			(360	)	bps
Adjustments:
Acquisition and disposition-related gain (loss)		—	%			(0.5	)%
Cyber insurance proceeds		—	%			1.9	%
Storm damage charges		(0.2	)%			(0.8	)%
Total effect of adjustments		(0.2	)%			0.6	%
Adjusted:
Total adjusted SG&A expenses as a % of gross profit		71.7	%			68.9	%			(280	)	bps
Reported:
Total gross profit	$	532.1			$	527.6			$	4.5			1	%

	Six Months Ended June 30,								Better / (Worse)
		2026				2025			Change				% Change
	(In millions)
Reported:
Compensation	$	479.9			$	458.7			$	(21.2	)		(5	)%
Advertising		38.4				32.6				(5.8	)		(18	)%
Rent		24.4				19.1				(5.3	)		(28	)%
Other		214.6				175.7				(38.9	)		(22	)%
Total SG&A expenses	$	757.3			$	686.1			$	(71.2	)		(10	)%
Adjustments:
Acquisition and disposition-related gain (loss)	$	5.1			$	(2.7	)
Cyber insurance proceeds		—				40.0
Storm damage charges		(1.2	)			(5.0	)
Total SG&A adjustments	$	3.9			$	32.3
Adjusted:
Total adjusted SG&A expenses	$	761.2			$	718.4			$	(42.8	)		(6	)%
Reported:
SG&A expenses as a % of gross profit:
Compensation		45.6	%			44.9	%			(70	)		bps
Advertising		3.6	%			3.2	%			(40	)		bps
Rent		2.3	%			1.9	%			(40	)		bps
Other		20.4	%			17.2	%			(320	)		bps
Total SG&A expenses as a % of gross profit		71.9	%			67.2	%			(470	)		bps
Adjustments:
Acquisition and disposition-related gain (loss)		0.5	%			(0.3	)%
Cyber insurance proceeds		—	%			3.9	%
Storm damage charges		(0.1	)%			(0.5	)%
Total effect of adjustments		0.4	%			3.1	%
Adjusted:
Total adjusted SG&A expenses as a % of gross profit		72.3	%			70.3	%			(200	)	bps
Reported:
Total gross profit	$	1,052.9			$	1,021.6			$	31.3			3	%

Non-GAAP Reconciliation - EchoPark Segment - SG&A Expenses
	Three Months Ended June 30,								Better / (Worse)
		2026				2025			Change				% Change
	(In millions)
Reported:
Compensation	$	27.3			$	25.2			$	(2.1	)		(8	)%
Advertising		8.2				7.3				(0.9	)		(12	)%
Rent		1.1				0.7				(0.4	)		(57	)%
Other		10.7				9.0				(1.7	)		(19	)%
Total SG&A expenses	$	47.3			$	42.2			$	(5.1	)		(12	)%
Adjustments:
Acquisition and disposition-related gain (loss)	$	—			$	0.8
Total SG&A adjustments	$	—			$	0.8
Adjusted:
Total adjusted SG&A expenses	$	47.3			$	43.0			$	(4.3	)		(10	)%
Reported:
SG&A expenses as a % of gross profit:
Compensation		42.5	%			42.7	%			20		bps
Advertising		12.8	%			12.4	%			(40	)	bps
Rent		1.7	%			1.2	%			(50	)	bps
Other		16.4	%			11.7	%			(470	)	bps
Total SG&A expenses as a % of gross profit		73.4	%			68.0	%			(540	)	bps
Adjustments:
Acquisition and disposition-related gain (loss)		—	%			1.3	%
Total effect of adjustments		—	%			1.3	%
Adjusted:
Total adjusted SG&A expenses as a % of gross profit		73.4	%			69.3	%			(410	)	bps
Reported:
Total gross profit	$	64.3			$	62.1			$	2.2			4	%

	Six Months Ended June 30,								Better / (Worse)
		2026				2025			Change				% Change
	(In millions)
Reported:
Compensation	$	54.2			$	51.1			$	(3.1	)		(6	)%
Advertising		16.5				15.1				(1.4	)		(9	)%
Rent		(1.7	)			1.4				3.1			221	%
Other		21.0				19.4				(1.6	)		(8	)%
Total SG&A expenses	$	90.0			$	87.0			$	(3.0	)		(3	)%
Adjustments:
Acquisition and disposition-related gain (loss)	$	—			$	1.0
Gain (loss) on exit of leased dealerships		3.6				—
Total SG&A adjustments	$	3.6			$	1.0
Adjusted:
Total adjusted SG&A expenses	$	93.6			$	88.0			$	(5.6	)		(6	)%
Reported:
SG&A expenses as a % of gross profit:
Compensation		41.0	%			41.6	%			60		bps
Advertising		12.5	%			12.3	%			(20	)	bps
Rent		(1.3	)%			1.1	%			240		bps
Other		15.8	%			14.1	%			(170	)	bps
Total SG&A expenses as a % of gross profit		68.0	%			69.1	%			110		bps
Adjustments:
Acquisition and disposition-related gain (loss)		—	%			0.8	%
Gain (loss) on exit of leased dealerships		2.7	%			—	%
Total effect of adjustments		2.7	%			0.8	%
Adjusted:
Total adjusted SG&A expenses as a % of gross profit		70.7	%			69.9	%			(80	)	bps
Reported:
Total gross profit	$	132.3			$	126.0			$	6.3			5	%

Non-GAAP Reconciliation - Powersports Segment - SG&A Expenses
	Three Months Ended June 30,								Better / (Worse)
		2026				2025			Change				% Change
	(In millions)
Reported:
Compensation	$	10.0			$	7.3			$	(2.7	)		(37	)%
Advertising		0.6				0.3				(0.3	)		(100	)%
Rent		—				(0.3	)			(0.3	)		(100	)%
Other		3.9				2.9				(1.0	)		(34	)%
Total SG&A expenses	$	14.5			$	10.2			$	(4.3	)		(42	)%
Reported:
SG&A expenses as a % of gross profit:
Compensation		51.0	%			58.1	%			710		bps
Advertising		3.2	%			2.4	%			(80	)	bps
Rent		(0.1	)%			(2.0	)%			(190	)	bps
Other		19.4	%			22.6	%			320		bps
Total SG&A expenses as a % of gross profit		73.5	%			81.1	%			760		bps
Reported:
Total gross profit	$	19.7			$	12.5			$	7.2			58	%

	Six Months Ended June 30,								Better / (Worse)
		2026				2025			Change				% Change
	(In millions)
Reported:
Compensation	$	17.3			$	13.5			$	(3.8	)		(28	)%
Advertising		1.0				0.6				(0.4	)		(67	)%
Rent		—				(0.4	)			(0.4	)		(100	)%
Other		6.0				6.1				0.1			2	%
Total SG&A expenses	$	24.3			$	19.8			$	(4.5	)		(23	)%
Adjustments:
Acquisition and disposition-related gain (loss)	$	—			$	(0.9	)
Total SG&A adjustments	$	—			$	(0.9	)
Adjusted:
Total adjusted SG&A expenses	$	24.3			$	18.9			$	(5.4	)		(29	)%
Reported:
SG&A expenses as a % of gross profit:
Compensation		58.1	%			64.0	%			590		bps
Advertising		3.2	%			2.6	%			(60	)	bps
Rent		0.1	%			(2.0	)%			(210	)	bps
Other		20.3	%			29.2	%			890		bps
Total SG&A expenses as a % of gross profit		81.7	%			93.8	%			1,210		bps
Adjustments:
Acquisition and disposition-related gain (loss)		—	%			(4.2	)%
Total effect of adjustments		—	%			(4.2	)%
Adjusted:
Total adjusted SG&A expenses as a % of gross profit		81.7	%			89.6	%			790			bps
Reported:
Total gross profit	$	29.8			$	21.1			$	8.7			41	%

Non-GAAP Reconciliation - Franchised Dealerships Segment - Income (Loss) Before Taxes and Segment Income (Loss)
	Three Months Ended June 30,										Six Months Ended June 30,
	2026			2025				% Change			2026				2025				% Change
	(In millions)
Reported:
Income (loss) before taxes	$	70.7		$	(74.3	)		195	%		$	141.7			$	17.7			701	%
Add: Impairment charges		—			165.9							0.4				165.9
Segment income	$	70.7		$	91.6			(23	)%		$	142.1			$	183.6			(23	)%
Adjustments:
Acquisition and disposition-related (gain) loss	$	—		$	2.4						$	(5.1	)		$	2.7
Cyber insurance proceeds		—			(10.0	)						—				(40.0	)
Storm damage charges		1.2			4.1							1.2				5.0
Total pre-tax adjustments	$	1.2		$	(3.5	)					$	(3.9	)		$	(32.3	)
Adjusted:
Segment income	$	71.9		$	88.1			(18	)%		$	138.2			$	151.3			(9	)%

Non-GAAP Reconciliation - EchoPark Segment - Income (Loss) Before Taxes and Segment Income (Loss)
	Three Months Ended June 30,										Six Months Ended June 30,
	2026			2025				% Change			2026				2025				% Change
	(In millions)
Reported:
Income before taxes	$	7.2		$	11.7			(38	)%		$	23.4			$	21.8			7	%
Add: Impairment charges		—			—							—				0.2
Segment income	$	7.2		$	11.7			(38	)%		$	23.4			$	22.0			6	%
Adjustments:
Acquisition and disposition-related (gain) loss	$	—		$	(0.8	)					$	—			$	(1.0	)
Loss (gain) on exit of leased dealerships		—			—							(3.6	)			—
Total pre-tax adjustments	$	—		$	(0.8	)					$	(3.6	)		$	(1.0	)
Adjusted:
Segment income	$	7.2		$	10.9			(34	)%		$	19.8			$	21.0			(6	)%

Non-GAAP Reconciliation - Powersports Segment - Income (Loss) Before Taxes and Segment Income (Loss)
	Three Months Ended June 30,										Six Months Ended June 30,
	2026			2025				% Change			2026			2025				% Change
	(In millions)
Reported:
Income (loss) before taxes	$	2.3		$	(6.5	)		135	%		$	0.3		$	(11.1	)		103	%
Add: Impairment charges		—			6.5							—			7.6
Segment income (loss)	$	2.3		$	—			100	%		$	0.3		$	(3.5	)		109	%
Adjustments:
Acquisition and disposition-related (gain) loss	$	—		$	—						$	—		$	0.9
Adjusted:
Segment income (loss)	$	2.3		$	—			100.0	%		$	0.3		$	(2.6	)		112	%
NM = Not Meaningful

Non-GAAP Reconciliation - Consolidated - Net Income (Loss) and Diluted Earnings (Loss) Per Share
	Three Months Ended June 30, 2026									Three Months Ended June 30, 2025
	Weighted- Average Shares		Amount				Per Share Amount			Weighted- Average Shares		Amount				Per Share Amount
	(In millions, except per share amounts)
Reported net income (loss), diluted shares, and diluted earnings (loss) per share	32.1		$	57.4			$	1.79		34.1		$	(45.6	)		$	(1.34	)
Adjustments:
Acquisition and disposition-related (gain) loss			$	—								$	1.6
Cyber insurance proceeds				—									(10.0	)
Storm damage charges				1.2									4.1
Impairment charges				—									172.4
Total pre-tax adjustments			$	1.2								$	168.1
Tax effect of above items				(0.3	)								(46.3	)
Adjusted net income, diluted shares, and diluted earnings per share	32.1		$	58.3			$	1.82		34.8		$	76.2			$	2.19

	Six Months Ended June 30, 2026									Six Months Ended June 30, 2025
	Weighted- Average Shares		Net Income (Loss)				Per Share Amount			Weighted- Average Shares		Net Income (Loss)				Per Share Amount
	(In millions, except per share amounts)
Reported net income, diluted shares, and diluted earnings per share	33.0		$	118.3			$	3.58		34.7		$	25.0			$	0.72
Adjustments:
Acquisition and disposition-related (gain) loss			$	(5.1	)							$	2.6
Cyber insurance proceeds				—									(40.0	)
Storm damage charges				1.2									5.0
Impairment charges				0.4									173.8
Loss (gain) on exit of leased dealerships				(3.6	)								—
Total pre-tax adjustments			$	(7.1	)							$	141.4
Tax effect of above items				2.0									(38.9	)
Adjusted net income, diluted shares, and diluted earnings per share	33.0		$	113.2			$	3.43		34.7		$	127.5			$	3.68

Non-GAAP Reconciliation - Adjusted EBITDA
	Three Months Ended June 30, 2026												Three Months Ended June 30, 2025
	Franchised Dealerships Segment			EchoPark Segment			Powersports Segment			Total			Franchised Dealerships Segment				EchoPark Segment				Powersports Segment				Total
	(In millions)
Net income (loss)										$	57.4														$	(45.6	)
Provision for income taxes											22.9															(23.5	)
Income (loss) before taxes	$	70.7		$	7.2		$	2.3		$	80.3		$	(74.3	)		$	11.7			$	(6.5	)		$	(69.1	)
Non-floor plan interest (1)		27.3			0.3			0.8			28.4			24.7				0.4				0.7				25.8
Depreciation and amortization (2)		33.7			6.4			1.8			41.9			35.8				5.1				1.3				42.2
Stock-based compensation expense		5.9			—			—			5.9			5.7				—				—				5.7
Impairment charges		—			—			—			—			165.9				—				6.5				172.4
Cyber insurance proceeds		—			—			—			—			(10.0	)			—				—				(10.0	)
Acquisition and disposition related (gain) loss		—			—			—			—			2.4				(0.8	)			—				1.6
Storm damage charges		1.2			—			—			1.2			4.1				—				—				4.1
Adjusted EBITDA	$	138.8		$	13.9		$	4.9		$	157.7		$	154.3			$	16.4			$	2.0			$	172.7

	Six Months Ended June 30, 2026															Six Months Ended June 30, 2025
	Franchised Dealerships Segment				EchoPark Segment				Powersports Segment			Total				Franchised Dealerships Segment				EchoPark Segment				Powersports Segment				Total
	(In millions)
Net income												$	118.3															$	25.0
Provision for income taxes													47.1																3.3
Income (loss) before taxes	$	141.7			$	23.4			$	0.3		$	165.4			$	17.7			$	21.8			$	(11.1	)		$	28.3
Non-floor plan interest (1)		52.9				0.6				1.5			55.0				49.6				0.9				1.4				51.9
Depreciation & amortization (2)		67.1				12.1				3.0			82.2				70.8				10.3				2.5				83.6
Stock-based compensation expense		11.1				—				—			11.1				11.5				—				—				11.5
Loss (gain) on exit of leased dealerships		—				(3.6	)			—			(3.6	)			—				—				—				—
Impairment charges		0.4				—				—			0.4				165.9				0.2				7.6				173.8
Cyber insurance proceeds		—				—				—			—				(40.0	)			—				—				(40.0	)
Acquisition and disposition related (gain) loss		(5.1	)			—				—			(5.1	)			2.7				(1.0	)			0.9				2.6
Storm damage charges		1.2				—				—			1.2				5.0				—				—				5.0
Adjusted EBITDA (loss)	$	269.3			$	32.5			$	4.8		$	306.6			$	283.2			$	32.2			$	1.3			$	316.7

Note: Due to rounding, segment level financial data may not sum to consolidated results.
(1)	Includes interest expense, other, net in the accompanying consolidated statements of operations, net of any amortization of debt issuance costs or net debt discount/premium included in (2) below.
(2)	Includes the following line items from the accompanying consolidated statements of cash flows: depreciation and amortization of property and equipment; debt issuance cost amortization; and debt discount amortization, net of premium amortization.

 

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Company Contacts
Investor Inquiries:
Heath Byrd, Executive Vice President and Chief Financial Officer
Danny Wieland, Vice President, Investor Relations & Financial Reporting
ir@sonicautomotive.com

Press Inquiries:
Sonic Automotive Media Relations
media.relations@sonicautomotive.com

Source: Sonic Automotive, Inc