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Record 2025 sales but lower profit at Sonic Automotive (NYSE: SAH)

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Rhea-AI Filing Summary

Sonic Automotive reported strong 2025 top-line growth but weaker GAAP profit. Full-year revenue reached $15.2 billion, up 7%, with record gross profit of $2.4 billion, up 9%. Reported net income fell 45% to $118.7 million (EPS $3.42) due mainly to significant non-cash impairment charges.

Excluding specified items, adjusted net income rose 17% to $229.2 million with adjusted EPS of $6.60, up 18%. Fourth-quarter revenue was $3.9 billion, down 1%, while net income was $46.9 million, down 20%; adjusted net income was $52.2 million and adjusted EPS $1.52, up 1%.

The Franchised Dealerships segment delivered record $12.9 billion revenue and $2.1 billion gross profit, both up 8%. EchoPark produced all-time record adjusted EBITDA of $49.2 million, up 78%, and the Powersports segment’s adjusted EBITDA rose 83% to $11.5 million. In 2025 Sonic repurchased about 1.3 million Class A shares for $82.4 million, and the board approved a quarterly dividend of $0.38 per share.

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Insights

Record revenue and improving adjusted earnings offset by large impairments.

Sonic Automotive delivered record $15.2 billion in 2025 revenue, up 7%, and record gross profit of $2.4 billion, up 9%. Core profitability on an adjusted basis strengthened, with adjusted net income up 17% and adjusted EPS rising to $6.60.

However, reported net income dropped 45% to $118.7 million (EPS $3.42) due largely to a $173.8 million non-cash impairment in Q2 and other one-time items. This creates a wide gap between GAAP and non-GAAP results, which investors typically scrutinize carefully.

Segment data show the strategy working: EchoPark adjusted EBITDA jumped 78% to $49.2 million and Powersports to $11.5 million, while franchised dealerships posted record $12.9 billion revenue. Management highlights over $700 million of liquidity as of December 31, 2025 and continued capital returns via a $0.38 quarterly dividend and $82.4 million of share repurchases in 2025.

Item 2.0 Item 2.0
Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 5.3 Item 5.3
Item 7.01 Regulation FD Disclosure Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.

FAQ

How did Sonic Automotive (SAH) perform financially in full-year 2025?
Sonic Automotive delivered record 2025 revenue of $15.2 billion, up 7%, and record gross profit of $2.4 billion, up 9%. Reported net income fell 45% to $118.7 million, but adjusted net income increased 17% to $229.2 million with adjusted EPS of $6.60.

What were Sonic Automotive’s (SAH) key fourth-quarter 2025 results?
In Q4 2025, Sonic Automotive generated $3.9 billion in revenue, down 1% year-over-year, and $598.7 million in gross profit, up 4%. Reported net income was $46.9 million, down 20%, while adjusted net income was $52.2 million with adjusted EPS of $1.52.

How did the EchoPark segment perform for Sonic Automotive (SAH) in 2025?
EchoPark posted all-time record annual gross profit of $233.9 million, up 13%, on revenues of $2.1 billion, down 3%. Segment income rose to $28.1 million, and adjusted EBITDA climbed 78% to $49.2 million, despite retail used unit volume declining 2% to 67,636.

What were the 2025 results for Sonic Automotive’s Powersports segment?
The Powersports segment achieved record 2025 revenue of $202.9 million, up 29%, and record gross profit of $53.8 million, up 23%, with a 26.5% margin. Reported segment income was $2.3 million, while adjusted EBITDA reached an all-time high of $11.5 million, up 83%.

What capital return actions did Sonic Automotive (SAH) take in 2025?
During 2025, Sonic Automotive repurchased approximately 1.3 million Class A shares for about $82.4 million. The board also approved a quarterly cash dividend of $0.38 per share, payable on April 15, 2026 to stockholders of record on March 13, 2026.

How did Sonic Automotive’s Franchised Dealerships segment perform in 2025?
Franchised Dealerships posted record 2025 revenues of $12.9 billion, up 8%, and gross profit of $2.1 billion, also up 8%. Segment income rose 23% to $316.1 million. Same-store revenues grew 5%, with fixed operations gross profit up 8% and F&I gross profit up 9%.

What is Sonic Automotive’s liquidity position as of year-end 2025?
Sonic Automotive reports over $700 million of available liquidity as of December 31, 2025, combining cash, floorplan deposit balances and credit capacity. Management highlights this balance sheet position as support for ongoing investment, strategic flexibility, and continued dividends and share repurchases.

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Understanding 8-K Material Events →
0001043509FALSE00010435092026-02-182026-02-18

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 ____________________________________
FORM 8-K
 ____________________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 18, 2026
____________________________________
SONIC AUTOMOTIVE, INC.
(Exact name of registrant as specified in its charter)
 ____________________________________
Delaware
(State or other jurisdiction
of incorporation)
1-1339556-2010790
(Commission
File Number)
(IRS Employer
Identification No.)
4401 Colwick Road
Charlotte,North Carolina28211
(Address of principal executive offices)(Zip Code)
Registrant’s telephone number, including area code: (704) 566-2400
Not Applicable
(Former name or former address, if changed since last report.)
 ____________________________________ 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Class A Common Stock, par value $0.01 per shareSAHNew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company  ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐



Item 2.02. Results of Operations and Financial Condition.
On February 18, 2026, Sonic Automotive, Inc. (the “Company”) issued a press release announcing its financial results for its fourth fiscal quarter and fiscal year ended December 31, 2025 (the “Earnings Press Release”). A copy of the Earnings Press Release is attached hereto as Exhibit 99.1 and a copy of the earnings call presentation materials is attached hereto as Exhibit 99.2.

Item 7.01. Regulation FD Disclosure.
On February 18, 2026, in the Earnings Press Release, the Company announced the approval of a quarterly cash dividend.

Item 9.01. Financial Statements and Exhibits.
(d)    Exhibits.
  Exhibit  
No.
Description
99.1 
Press Release of Sonic Automotive, Inc., dated February 18, 2026.
99.2 
Earnings Call Presentation Materials.
104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
The information in this Current Report on Form 8-K, including Exhibits 99.1 and 99.2 attached hereto, is being furnished and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in any such filing.




SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
SONIC AUTOMOTIVE, INC.
February 18, 2026By:/s/ STEPHEN K. COSS
Stephen K. Coss
Senior Vice President and General Counsel



Exhibit 99.1

Sonic Automotive Reports Fourth Quarter and Full Year Financial Results

Full Year Results Include All-Time Record Annual Revenues of $15.2 Billion, Up 7% from the Prior Year

All-Time Record Annual Gross Profit Driven by All-Time Records in Both Fixed Operations and F&I Gross Profit

All-Time Record Annual EchoPark and Powersports Segment Income and Adjusted EBITDA*


CHARLOTTE, N.C. – February 18, 2026 – 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 fourth quarter and fiscal year ended December 31, 2025.

Fourth Quarter 2025 Financial Summary
•Total revenues of $3.9 billion, down 1% year-over-year; fourth quarter record total gross profit of $598.7 million, up 4% year-over-year
•Reported net income of $46.9 million, down 20% year-over-year ($1.36 earnings per diluted share, down 19% year-over-year)
◦Reported net income for the fourth quarter of 2025 includes a $5.3 million non-recurring income tax charge
◦Reported net income for the fourth quarter of 2024 includes the effect of a $10.0 million pre-tax gain from cyber insurance proceeds and a $2.7 million net pre-tax acquisition and disposition related gain, offset partially by a $3.2 million pre-tax storm damage charge, a $1.5 million pre-tax charge related to non-cash impairment charges, and a $0.5 million pre-tax long-term compensation charge (collectively, these items are partially offset by a $2.0 million tax expense on the above net benefit)
•Excluding the above items, adjusted fourth quarter net income* was $52.2 million, down 2% year-over-year ($1.52 adjusted earnings per diluted share*, up 1% year-over-year)
•Total reported selling, general and administrative (“SG&A”) expenses as a percentage of gross profit of 72.4% (71.4% on a Franchised Dealerships Segment basis, 78.9% on an EchoPark Segment basis, and 96.2% on a Powersports Segment basis)
•Franchised Dealerships Segment revenues of $3.4 billion, flat year-over-year; fourth quarter record Franchised Dealerships Segment gross profit of $535.8 million, up 4% year-over-year
•EchoPark Segment revenues of $480.7 million, down 5% year-over-year; fourth quarter record EchoPark Segment gross profit of $53.5 million, up 9% year-over-year; EchoPark Segment retail used vehicle unit sales volume of 15,743 units, down 6% year-over-year
•Reported EchoPark Segment income of $3.6 million, a 238% improvement year-over-year, as compared to a $2.6 million loss in the prior year period, and adjusted EchoPark Segment income* of $3.6 million, a 300% improvement year-over-year, as compared to a $1.8 million loss in the prior year period
•Fourth quarter record EchoPark Segment adjusted EBITDA* of $8.8 million, up 110% year-over-year, as compared to $4.2 million in the prior year period
•During the fourth quarter, Sonic repurchased approximately 0.6 million shares of its Class A Common Stock for an aggregate purchase price of approximately $38.3 million


•Subsequent to December 31, 2025, Sonic’s Board of Directors approved a quarterly cash dividend of $0.38 per share, payable on April 15, 2026 to all stockholders of record on March 13, 2026

* Please refer to the discussion and reconciliation of Non-GAAP Financial Measures below.

Full Year 2025 Financial Summary
•All-time record annual total revenues of $15.2 billion, up 7% year-over-year; all-time record annual total gross profit of $2.4 billion, up 9% year-over-year
•Reported full year net income of $118.7 million, down 45% year-over-year ($3.42 earnings per diluted share, down 45% year-over-year)
◦Reported net income for the full year 2025 includes the effect of a $5.0 million pre-tax charge related to storm damage, a $5.6 million pre-tax disposition-related loss, a $173.8 million pre-tax charge related to non-cash impairment charges in the second quarter, and a $0.7 million net pre-tax charge for legal settlement reserves, offset partially by a $40.0 million pre-tax gain from cyber insurance proceeds (collectively, these items are partially offset by a $39.9 million tax benefit on the above net charge), and a non-recurring income tax charge of $5.3 million.
◦Reported net income for full year 2024 includes the effect of $13.4 million in excess compensation expense paid to our teammates related to the CDK outage, an $8.3 million pre-tax storm damage charge, $5.5 million in pre-tax severance and long-term compensation charges, a $3.9 million pre-tax charge related to non-cash impairment charges, and a $2.1 million pre-tax charge related to closed store accrued expenses, offset partially by a $10.0 million pre-tax gain from cyber insurance proceeds, a $5.6 million net pre-tax acquisition and disposition related gain, and a $3.0 million pre-tax gain on the exit of leased dealerships (collectively, these items are partially offset by a $3.8 million tax benefit on the above net charges), and a one-time income tax benefit of $31.0 million associated with an out of period adjustment correcting an error recorded in connection with the impairment of franchise assets in a prior period
•Excluding these items, adjusted net income* was $229.2 million, up 17% year-over year ($6.60 adjusted earnings per diluted share*, up 18% year-over-year)
•Total reported selling, general and administrative (“SG&A”) expenses as a percentage of gross profit of 70.4% (69.9% on a Franchised Dealerships Segment basis, 73.8% on an EchoPark Segment basis, and 77.7% on a Powersports Segment basis)
•Total adjusted SG&A expenses as a percentage of gross profit* of 71.6% (71.2% on a Franchised Dealerships Segment basis, 74.2% on an EchoPark Segment basis, and 75.8% on a Powersports Segment basis)
•All-time record annual Franchised Dealerships Segment revenues of $12.9 billion, up 8% year-over-year; Franchised Dealerships Segment gross profit of $2.1 billion, up 8% year-over-year
•EchoPark Segment revenues of $2.1 billion, down 3% year-over-year; all-time record annual EchoPark Segment gross profit of $233.9 million, up 13% year-over-year; EchoPark Segment retail used vehicle unit sales volume of 67,636 units, down 2% year-over-year
•Reported EchoPark Segment income of $28.1 million, up 703% year-over-year from $3.5 million in the prior year, and adjusted EchoPark Segment income* of $27.2 million, up 635% year-over year from $3.7 million in the prior year


•All-time record annual EchoPark Segment adjusted EBITDA* of $49.2 million, up 78% year-over-year from $27.6 million in the prior year
•All-time record annual Powersports Segment adjusted EBITDA* of $11.5 million, up 83% year-over-year from $6.3 million in the prior year
•During 2025, Sonic repurchased approximately 1.3 million shares of its Class A Common Stock for an aggregate purchase price of approximately $82.4 million

* Please refer to the discussion and reconciliation of Non-GAAP Financial Measures below.

Commentary
“Our fourth quarter results reflect the strength of Sonic Automotive’s diversified business model and the disciplined execution of our long-term strategy,” said David Smith, Chairman and Chief Executive Officer of Sonic Automotive. “Despite a dynamic operating environment throughout 2025, our team delivered record performance across all three segments of our business. As we enter the new year, we remain focused on operational excellence, cost control, and continuing to deliver exceptional value to our guests and shareholders.”

“Our operating teams executed with focus and consistency throughout the quarter, driving strong performance across our franchised dealership portfolio while continuing to optimize EchoPark's inventory and pricing strategy,” said Jeff Dyke, President of Sonic Automotive. “We remain disciplined in our approach to inventory management, expense control, and delivering an outstanding guest experience, and we are well positioned to build on this momentum as we move into 2026.”

Heath Byrd, Chief Financial Officer of Sonic Automotive, added, “Our fourth quarter financial results reflect disciplined cost management, strong cash flow generation, and continued balance sheet strength, with over $700 million of available liquidity as of December 31, 2025. We are committed to a prudent approach to capital allocation while investing strategically in our growth initiatives, positioning the company to remain flexible and financially resilient in a changing market environment.”

Fourth Quarter 2025 Segment Highlights
The financial measures discussed below are results for the fourth quarter of 2025 with comparisons made to the fourth quarter of 2024, unless otherwise noted.
•Franchised Dealerships Segment operating results include:
•Same store revenues down 5%; same store gross profit down 2%
•Same store retail new vehicle unit sales volume down 11%; same store retail new vehicle gross profit per unit down 7%, to $3,033
•Same store retail used vehicle unit sales volume up 5%; same store retail used vehicle gross profit per unit down 2%, to $1,379
•Same store parts, service and collision repair (“Fixed Operations”) gross profit up 3%; same store customer pay gross profit up 6%; same store warranty gross profit up 2%; same store Fixed Operations gross margin up 10 basis points, to 50.8%
•Same store finance and insurance (“F&I”) gross profit remained flat; same store F&I gross profit per retail unit of $2,541, up 5%
•On a trailing quarter cost of sales basis, the Franchised Dealerships Segment had 48 days’ supply of new vehicle inventory (including in-transit) and 31 days’ supply of used vehicle inventory


•EchoPark Segment operating results include:
•Revenues of $480.7 million, down 5% year-over-year; fourth quarter record gross profit of $53.5 million, up 9% year-over-year
•Retail used vehicle unit sales volume of 15,743, down 6% year-over-year
•Reported segment income of $3.6 million and fourth quarter record adjusted EBITDA* of $8.8 million
•On a trailing quarter cost of sales basis, the EchoPark Segment had 40 days’ supply of used vehicle inventory
•Powersports Segment operating results include:
•Fourth quarter record revenues of $36.4 million, up 19%; fourth quarter record gross profit of $9.4 million, up 25%; gross margin of 25.7%
•Reported segment loss of $2.0 million and adjusted EBITDA* of $0.1 million

* Please refer to the discussion and reconciliation of Non-GAAP Financial Measures below.

Full Year 2025 Segment Highlights
The financial measures discussed below are results for the full year 2025 with comparisons made to the full year 2024, unless otherwise noted.
•Franchised Dealerships Segment operating results include:
•Same store revenues up 5%; same store gross profit up 4%
•Same store retail new vehicle unit sales volume up 2%; same store retail new vehicle gross profit per unit down 9%, to $3,094
•Same store retail used vehicle unit sales volume flat; same store retail used vehicle gross profit per unit up 2%, to $1,516
•Same store Fixed Operations gross profit up 8%; same store customer pay gross profit up 6%; same store warranty gross profit up 20%; same store Fixed Operations gross margin up 60 basis points, to 51.0%
•Same store F&I gross profit up 9%; same store F&I gross profit per retail unit of $2,551, up 7%
•EchoPark Segment operating results include:
•Revenues of $2.1 billion, down 3% year-over-year; all-time record annual gross profit of $233.9 million, up 13%
•Retail used vehicle unit sales volume of 67,636, down 2%
•Reported segment income of $28.1 million, adjusted segment income* of $27.2 million, and all-time record annual adjusted EBITDA* of $49.2 million
•Powersports Segment operating results include:
•All-time record annual revenues of $202.9 million, up 29%; all-time record annual gross profit of $53.8 million, up 23%; gross margin of 26.5%
•Reported segment income of $2.3 million, adjusted segment income* of $3.4 million, and all-time record annual adjusted EBITDA* of $11.5 million

* 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 $0.38 per share, payable on April 15, 2026 to all stockholders of record on March 13, 2026.

Fourth Quarter 2025 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 Fourth Quarter 2025 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
Sonic Automotive, Inc., a Fortune 500 company based in Charlotte, North Carolina, is on a quest to become the most valuable diversified automotive retail and service brand in America. Our Company culture thrives on creating, innovating, and providing industry-leading guest experiences, driven by strategic investments in technology, teammates, and ideas that ultimately fulfill ownership dreams, enrich lives, and deliver happiness to our guests and teammates. As one of the largest automotive and powersports retailers in America, we are committed to delivering on this goal while pursuing expansive growth and taking progressive measures to be the leader in these categories. Our new platforms, programs, and people are set to drive the next generation of automotive and powersports experiences. More information about Sonic Automotive can be found at www.sonicautomotive.com and ir.sonicautomotive.com.

About EchoPark Automotive
EchoPark Automotive is one of the most comprehensive retailers of nearly new pre-owned vehicles in America today. Our unique business model offers a best-in-class shopping experience and utilizes one of the most innovative technology-enabled sales strategies in our industry. Our approach provides a personalized and proven guest-centric buying process that consistently delivers award-winning guest experiences and superior value to car buyers nationwide, with savings of up to $3,000 versus the competition. Consumers have responded by putting EchoPark among the top national pre-owned vehicle retailers in products, sales, and service. EchoPark’s mission is in the name: Every Car, Happy Owner. This drives the experience for guests and differentiates EchoPark from the competition. More information about EchoPark Automotive can be found at www.echopark.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, 2024 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 as a percentage of gross profit, adjusted segment income, and adjusted EBITDA. 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.

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


Sonic Automotive, Inc.
Results of Operations (Unaudited)
Results of Operations - Consolidated
Three Months Ended December 31,Better / (Worse)Twelve Months Ended December 31,Better / (Worse)
20252024% Change20252024% Change
(In millions, except per share amounts)
Revenues:
Retail new vehicles$1,852.2 $1,932.3 (4)%$7,047.4 $6,507.5 8 %
Fleet new vehicles24.1 27.3 (12)%101.5 95.3 7 %
Total new vehicles1,876.3 1,959.6 (4)%7,148.9 6,602.8 8 %
Used vehicles1,213.8 1,197.6 1 %4,872.6 4,780.1 2 %
Wholesale vehicles63.6 71.3 (11)%314.1 287.1 9 %
Total vehicles3,153.7 3,228.5 (2)%12,335.6 11,670.0 6 %
Parts, service and collision repair515.3 476.7 8 %2,019.1 1,846.5 9 %
Finance, insurance and other, net202.3 190.6 6 %798.9 707.8 13 %
Total revenues3,871.3 3,895.8 (1)%15,153.6 14,224.3 7 %
Cost of sales:
Retail new vehicles(1,754.9)(1,825.7)4 %(6,664.1)(6,119.1)(9)%
Fleet new vehicles(23.4)(26.6)12 %(99.8)(92.3)(8)%
Total new vehicles(1,778.3)(1,852.3)4 %(6,763.9)(6,211.4)(9)%
Used vehicles(1,172.4)(1,159.8)(1)%(4,691.5)(4,609.4)(2)%
Wholesale vehicles(68.8)(74.6)8 %(325.3)(293.1)(11)%
Total vehicles(3,019.5)(3,086.7)2 %(11,780.7)(11,113.9)(6)%
Parts, service and collision repair(253.1)(235.1)(8)%(990.0)(917.6)(8)%
Total cost of sales(3,272.6)(3,321.8)1 %(12,770.7)(12,031.5)(6)%
Gross profit598.7 574.0 4 %2,382.9 2,192.8 9 %
Selling, general and administrative expenses(433.7)(399.6)(9)%(1,678.2)(1,577.0)(6)%
Impairment charges— (1.5)NM(173.8)(3.9)NM
Depreciation and amortization(41.8)(39.4)(6)%(163.4)(150.4)(9)%
Operating income (loss)123.2 133.5 (8)%367.5 461.5 (20)%
Other income (expense):
Interest expense, floor plan(22.4)(21.4)(5)%(84.7)(86.9)3 %
Interest expense, other, net(27.6)(29.9)8 %(110.1)(118.0)7 %
Other income (expense), net— (0.1)100 %0.1 (0.5)120 %
Total other income (expense)(50.0)(51.4)3 %(194.7)(205.4)5 %
Income (loss) before taxes73.2 82.1 (11)%172.8 256.1 (33)%
Provision for income taxes - benefit (expense)(26.3)(23.5)(12)%(54.1)(40.1)(35)%
Net income (loss)$46.9 $58.6 (20)%$118.7 $216.0 (45)%
Basic earnings (loss) per common share$1.39 $1.72 (19)%$3.49 $6.34 (45)%
Basic weighted-average common shares outstanding33.8 34.1 1 %34.0 34.1 — %
Diluted earnings (loss) per common share$1.36 $1.67 (19)%$3.42 $6.18 (45)%
Diluted weighted-average common shares outstanding34.4 35.2 2 %34.7 35.0 1 %
Dividends declared per common share$0.38 $0.35 9 %$1.46 $1.25 17 %
NM = Not Meaningful




Franchised Dealerships Segment - Reported

Three Months Ended December 31,Better / (Worse)Twelve Months Ended December 31,Better / (Worse)
20252024% Change20252024% Change
(In millions, except unit and per unit data)
Revenues:
Retail new vehicles$1,831.8 $1,914.8 (4)%$6,941.9 $6,425.5 8 %
Fleet new vehicles24.0 27.2 (12)%101.5 95.3 7 %
Total new vehicles1,855.8 1,942.0 (4)%7,043.4 6,520.8 8 %
Used vehicles799.7 757.0 6 %3,087.0 2,919.8 6 %
Wholesale vehicles41.8 49.8 (16)%207.0 188.9 10 %
Total vehicles2,697.3 2,748.8 (2)%10,337.4 9,629.5 7 %
Parts, service and collision repair507.8 469.7 8 %1,970.2 1,802.9 9 %
Finance, insurance and other, net149.1 140.5 6 %571.5 506.8 13 %
Total revenues3,354.2 3,359.0 — %12,879.1 11,939.2 8 %
Gross Profit:
Retail new vehicles94.3 104.4 (10)%367.6 376.9 (2)%
Fleet new vehicles0.7 0.7 — %1.7 3.0 (43)%
Total new vehicles95.0 105.1 (10)%369.3 379.9 (3)%
Used vehicles38.1 36.0 6 %157.8 150.2 5 %
Wholesale vehicles(4.9)(2.7)(81)%(9.3)(4.6)(102)%
Total vehicles128.2 138.4 (7)%517.8 525.5 (1)%
Parts, service and collision repair258.5 238.5 8 %1,005.9 908.9 11 %
Finance, insurance and other, net149.1 140.5 6 %571.5 506.8 13 %
Total gross profit535.8 517.4 4 %2,095.2 1,941.2 8 %
Selling, general and administrative expenses(382.4)(348.5)(10)%(1,463.6)(1,375.4)(6)%
Impairment charges— (0.2)NM(165.9)(1.2)NM
Depreciation and amortization(35.6)(32.7)(9)%(137.7)(124.4)(11)%
Operating income (loss)117.8 136.0 (13)%328.0 440.2 (25)%
Other income (expense):
Interest expense, floor plan(19.6)(18.0)(9)%(72.0)(70.6)(2)%
Interest expense, other, net(26.5)(28.6)7 %(105.9)(112.7)6 %
Other income (expense), net— — — %0.1 (0.5)120 %
Total other income (expense)(46.1)(46.6)1 %(177.8)(183.8)3 %
Income (loss) before taxes71.7 89.4 (20)%150.2 256.4 (41)%
Add: Impairment charges— 0.2 NM165.9 1.2 NM
Segment income (loss)$71.7 $89.6 (20)%$316.1 $257.6 23 %
Unit Sales Volume:
Retail new vehicles29,400 32,250 (9)%115,981 111,450 4 %
Fleet new vehicles458 506 (9)%1,991 1,805 10 %
Total new vehicles29,858 32,756 (9)%117,972 113,255 4 %
Used vehicles27,401 25,702 7 %104,202 101,976 2 %
Wholesale vehicles4,811 5,692 (15)%22,868 21,018 9 %
Retail new & used vehicles56,801 57,952 (2)%220,183 213,426 3 %
Used:New Ratio0.93 0.80 17 %0.90 0.91 (1)%
Gross Profit Per Unit:
Retail new vehicles$3,209 $3,238 (1)%$3,170 $3,382 (6)%
Fleet new vehicles$1,398 $1,363 3 %$869 $1,636 (47)%
New vehicles$3,181 $3,209 (1)%$3,131 $3,354 (7)%
Used vehicles$1,389 $1,401 (1)%$1,514 $1,473 3 %
Finance, insurance and other, net$2,624 $2,424 8 %$2,596 $2,374 9 %

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 December 31,Better / (Worse)Twelve Months Ended December 31,Better / (Worse)
20252024% Change20252024% Change
(In millions, except unit and per unit data)
Revenues:
Retail new vehicles$1,732.1 $1,906.7 (9)%$6,696.7 $6,397.8 5 %
Fleet new vehicles24.1 27.3 (12)%99.5 94.9 5 %
Total new vehicles1,756.2 1,934.0 (9)%6,796.2 6,492.7 5 %
Used vehicles769.8 752.6 2 %2,995.0 2,902.3 3 %
Wholesale vehicles38.8 49.6 (22)%197.8 187.7 5 %
Total vehicles2,564.8 2,736.2 (6)%9,989.0 9,582.7 4 %
Parts, service and collision repair481.7 467.4 3 %1,903.9 1,794.8 6 %
Finance, insurance and other, net140.0 139.7 — %547.8 503.8 9 %
Total revenues3,186.5 3,343.3 (5)%12,440.7 11,881.3 5 %
Gross Profit:
Retail new vehicles86.3 104.2 (17)%350.2 377.0 (7)%
Fleet new vehicles0.6 0.7 (14)%1.8 3.0 (40)%
Total new vehicles86.9 104.9 (17)%352.0 380.0 (7)%
Used vehicles36.8 35.9 3 %154.0 150.9 2 %
Wholesale vehicles(4.4)(2.6)(69)%(8.8)(4.3)(105)%
Total vehicles119.3 138.2 (14)%497.2 526.6 (6)%
Parts, service and collision repair244.6 237.1 3 %971.4 903.9 8 %
Finance, insurance and other, net140.0 139.7 — %547.8 503.8 9 %
Total gross profit$503.9 $515.0 (2)%$2,016.4 $1,934.3 4 %
Unit Sales Volume:
Retail new vehicles28,435 32,067 (11)%113,181 110,770 2 %
Fleet new vehicles458 506 (9)%1,972 1,797 10 %
Total new vehicles28,893 32,573 (11)%115,153 112,567 2 %
Used vehicles26,687 25,528 5 %101,587 101,220 — %
Wholesale vehicles4,667 5,648 (17)%22,233 20,809 7 %
Retail new & used vehicles55,122 57,595 (4)%214,768 211,990 1 %
Used:New Ratio0.94 0.80 18 %0.90 0.91 (1)%
Gross Profit Per Unit:
Retail new vehicles$3,033 $3,250 (7)%$3,094 $3,404 (9)%
Fleet new vehicles$1,398 $1,363 3 %$909 $1,646 (45)%
New vehicles$3,008 $3,221 (7)%$3,057 $3,376 (9)%
Used vehicles$1,379 $1,408 (2)%$1,516 $1,491 2 %
Finance, insurance and other, net$2,541 $2,425 5 %$2,551 $2,377 7 %
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 December 31,Better / (Worse)Twelve Months Ended December 31,Better / (Worse)
20252024% Change20252024% Change
(In millions, except unit and per unit data)
Revenues:
Used vehicles$407.5 $436.0 (7)%$1,747.8 $1,838.0 (5)%
Wholesale vehicles21.5 21.4 — %104.6 95.8 9 %
Total vehicles429.0 457.4 (6)%1,852.4 1,933.8 (4)%
Finance, insurance and other, net51.7 48.8 6 %219.2 194.0 13 %
Total revenues480.7 506.2 (5)%2,071.6 2,127.8 (3)%
Gross Profit:
Used vehicles2.1 0.8 163 %16.5 15.2 9 %
Wholesale vehicles(0.3)(0.6)50 %(1.8)(1.3)(38)%
Total vehicles1.8 0.2 800 %14.7 13.9 6 %
Finance, insurance and other, net51.7 48.8 6 %219.2 194.0 13 %
Total gross profit53.5 49.0 9 %233.9 207.9 13 %
Selling, general and administrative expenses(42.2)(42.6)1 %(172.8)(165.7)(4)%
Impairment charges— (1.3)NM(0.2)(2.7)NM
Depreciation and amortization(4.9)(5.4)9 %(20.4)(21.8)6 %
Operating income (loss)6.4 (0.3)NM40.5 17.7 129 %
Other income (expense):
Interest expense, floor plan(2.5)(3.0)17 %(11.1)(14.2)22 %
Interest expense, other, net(0.3)(0.7)57 %(1.5)(2.7)44 %
Other income (expense), net— 0.1 (100)%— — — %
Total other income (expense)(2.8)(3.6)22 %(12.6)(16.9)25 %
Income (loss) before taxes3.6 (3.9)192 %27.9 0.8 NM
Add: Impairment charges— 1.3 NM0.2 2.7 NM
Segment income (loss)$3.6 $(2.6)238 %$28.1 $3.5 703 %
Unit Sales Volume:
Used vehicles15,743 16,674 (6)%67,636 69,053 (2)%
Wholesale vehicles2,365 2,752 (14)%11,836 11,059 7 %
Gross Profit Per Unit:
Total used vehicle and F&I$3,420 $2,974 15 %$3,484 $3,029 15 %
NM = Not Meaningful


EchoPark Segment - Same Market
Three Months Ended December 31,Better / (Worse)Twelve Months Ended December 31,Better / (Worse)
20252024% Change20252024% Change
(In millions, except unit and per unit data)
Revenues:
Used vehicles$407.5 $436.0 (7)%$1,747.8 $1,828.3 (4)%
Wholesale vehicles21.5 21.5 — %104.6 92.7 13 %
Total vehicles429.0 457.5 (6)%1,852.4 1,921.0 (4)%
Finance, insurance and other, net51.8 49.3 5 %220.3 195.5 13 %
Total revenues480.8 506.8 (5)%2,072.7 2,116.5 (2)%
Gross Profit:
Used vehicles2.1 0.8 163 %16.5 15.8 4 %
Wholesale vehicles(0.3)(0.6)50 %(1.7)(0.6)(183)%
Total vehicles1.8 0.2 800 %14.8 15.2 (3)%
Finance, insurance and other, net51.8 49.3 5 %220.3 195.5 13 %
Total gross profit$53.6 $49.5 8 %$235.1 $210.7 12 %
Unit Sales Volume:
Used vehicles15,743 16,674 (6)%67,636 68,690 (2)%
Wholesale vehicles2,365 2,752 (14)%11,836 10,850 9 %
Gross Profit Per Unit:
Total used vehicle and F&I$3,427 $3,004 14 %$3,501 $3,077 14 %

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 December 31,Better / (Worse)Twelve Months Ended December 31,Better / (Worse)
20252024% Change20252024% Change
(In millions, except unit and per unit data)
Revenues:
Retail new vehicles$20.4 $17.5 17 %$105.5 $82.0 29 %
Used vehicles6.6 4.7 40 %37.9 22.3 70 %
Wholesale vehicles0.4 0.1 300 %2.4 2.3 4 %
Total vehicles27.4 22.3 23 %145.8 106.6 37 %
Parts, service and collision repair7.5 7.0 7 %48.9 43.6 12 %
Finance, insurance and other, net1.5 1.3 15 %8.2 7.1 15 %
Total revenues36.4 30.6 19 %202.9 157.3 29 %
Gross Profit:
Retail new vehicles3.0 2.2 36 %15.7 11.5 37 %
Used vehicles1.2 1.0 20 %6.8 5.3 28 %
Wholesale vehicles— (0.1)100 %(0.1)(0.3)67 %
Total vehicles4.2 3.1 35 %22.4 16.5 36 %
Parts, service and collision repair3.7 3.1 19 %23.2 20.1 15 %
Finance, insurance and other, net1.5 1.3 15 %8.2 7.1 15 %
Total gross profit9.4 7.5 25 %53.8 43.7 23 %
Selling, general and administrative expenses(9.0)(8.5)(6)%(41.8)(35.9)(16)%
Impairment charges— — NM(7.6)— NM
Depreciation and amortization(1.4)(1.2)(17)%(5.3)(4.2)(26)%
Operating income (loss)(1.0)(2.2)55 %(0.9)3.6 (125)%
Other income (expense):
Interest expense, floor plan(0.3)(0.5)40 %(1.6)(2.1)24 %
Interest expense, other, net(0.7)(0.7)— %(2.8)(2.6)(8)%
Other income (expense), net— — — %— — — %
Total other income (expense)(1.0)(1.2)17 %(4.4)(4.7)6 %
Income (loss) before taxes(2.0)(3.4)41 %(5.3)(1.1)(382)%
Add: impairment charges— — NM7.6 — NM
Segment income (loss)$(2.0)$(3.4)41 %$2.3 $(1.1)309 %
Unit Sales Volume:
Retail new vehicles1,085 940 15 %5,143 4,244 21 %
Used vehicles640 520 23 %3,442 2,228 54 %
Wholesale vehicles76 16 375 %278 146 90 %
Gross Profit Per Unit:
Retail new vehicles$2,742 $2,338 17 %$3,050 $2,713 12 %
Used vehicles$1,927 $1,940 (1)%$1,980 $2,397 (17)%
Finance, insurance and other, net$874 $868 1 %$959 $1,092 (12)%

NM = Not Meaningful



Powersports Segment - Same Store

Three Months Ended December 31,Better / (Worse)Twelve Months Ended December 31,Better / (Worse)
20252024% Change20252024% Change
(In millions, except unit and per unit data)
Revenues:
Retail new vehicles$18.8 $16.7 13 %$93.8 $79.0 19 %
Used vehicles5.9 4.2 40 %33.7 20.9 61 %
Wholesale vehicles0.5 0.2 150 %2.5 2.1 19 %
Total vehicles25.2 21.1 19 %130.0 102.0 27 %
Parts, service and collision repair6.8 6.3 8 %44.7 41.6 7 %
Finance, insurance and other, net1.4 1.2 17 %7.8 6.7 16 %
Total revenues33.4 28.6 17 %182.5 150.3 21 %
Gross Profit:
Retail new vehicles2.7 2.1 29 %13.9 11.2 24 %
Used vehicles1.1 0.9 22 %6.1 5.0 22 %
Wholesale vehicles0.1 (0.1)200 %(0.1)(0.3)67 %
Total vehicles3.9 2.9 34 %19.9 15.9 25 %
Parts, service and collision repair3.4 2.6 31 %21.5 19.0 13 %
Finance, insurance and other, net1.4 1.2 17 %7.8 6.7 16 %
Total gross profit$8.7 $6.7 30 %$49.2 $41.6 18 %
Unit Sales Volume:
Retail new vehicles999 900 11 %4,583 4,115 11 %
Used vehicles585 470 24 %3,101 2,087 49 %
Wholesale vehicles76 16 375 %275 146 88 %
Retail new & used vehicles1,584 1,370 16 %7,684 6,202 24 %
Used:New Ratio0.59 0.52 13 %0.68 0.51 33 %
Gross Profit Per Unit:
Retail new vehicles$2,743 $2,280 20 %$3,032 $2,713 12 %
Used vehicles$1,935 $1,965 (2)%$1,982 $2,419 (18)%
Finance, insurance and other, net$902 $878 3 %$1,019 $1,073 (5)%

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 December 31,Better / (Worse)
20252024Change% Change
(In millions)
Reported:
Compensation$280.6 $263.5 $(17.1)(6)%
Advertising26.5 19.1 (7.4)(39)%
Rent13.1 10.7 (2.4)(22)%
Other113.5 106.3 (7.2)(7)%
Total SG&A expenses$433.7 $399.6 $(34.1)(9)%
Adjustments:
Cyber insurance proceeds$— $10.0 
Acquisition and disposition related gain (loss)— 2.7 
Storm damage charges— (3.2)
Severance and long-term compensation charges— (0.5)
Total SG&A adjustments$— $9.0 
Adjusted:
Total adjusted SG&A expenses$433.7 $408.6 $(25.1)(6)%
Reported:
SG&A expenses as a % of gross profit:
Compensation46.9 %45.9 %(100)bps
Advertising4.4 %3.3 %(110)bps
Rent2.2 %1.9 %(30)bps
Other18.9 %18.5 %(40)bps
Total SG&A expenses as a % of gross profit72.4 %69.6 %(280)bps
Adjustments:
Cyber insurance proceeds— %1.8 %
Acquisition and disposition related gain (loss)— %0.5 %
Storm damage charges— %(0.6)%
Severance and long-term compensation charges— %(0.1)%
Total effect of adjustments— %1.6 %
Adjusted:
Total adjusted SG&A expenses as a % of gross profit72.4 %71.2 %(120)bps
Reported:
Total gross profit$598.7 $574.0 $24.7 4 %
























Non-GAAP Reconciliation - Consolidated - SG&A Expenses (Continued)
Twelve Months Ended December 31,Better / (Worse)
20252024Change% Change
(In millions)
Reported:
Compensation$1,087.4 $1,013.9 $(73.5)(7)%
Advertising101.2 84.5 (16.7)(20)%
Rent46.4 36.6 (9.8)(27)%
Other443.2 442.0 (1.2)— %
Total SG&A expenses$1,678.2 $1,577.0 $(101.2)(6)%
Adjustments:
Excess compensation related to CDK outage$— $(11.4)
Storm damage charges(5.0)(8.3)
Severance and long-term compensation charges— (5.5)
Closed store accrued expenses— (2.1)
Cyber insurance proceeds40.0 10.0 
Acquisition and disposition related gain (loss)(5.6)5.6 
Legal settlements(0.7)— 
Gain (loss) on exit of leased dealerships— 3.0 
Total SG&A adjustments$28.7 $(8.7)
Adjusted:
Total adjusted SG&A expenses$1,706.9 $1,568.3 $(138.6)(9)%
Reported:
SG&A expenses as a % of gross profit:
Compensation45.6 %46.2 %60 bps
Advertising4.2 %3.9 %(30)bps
Rent1.9 %1.7 %(20)bps
Other18.7 %20.1 %140 bps
Total SG&A expenses as a % of gross profit70.4 %71.9 %150 bps
Adjustments:
Excess compensation related to CDK outage— %(0.5)%
Storm damage charges(0.2)%(0.4)%
Severance and long-term compensation charges— %(0.3)%
Closed store accrued expenses— %(0.1)%
Cyber insurance proceeds1.7 %0.5 %
Acquisition and disposition related gain (loss)(0.2)%0.3 %
Legal settlements— %— %
Gain (loss) on exit of leased dealerships— %0.1 %
Total effect of adjustments1.2 %(0.4)%
Adjusted:
Total adjusted SG&A expenses as a % of gross profit71.6 %71.5 %(10)bps
Reported:
Total gross profit$2,382.9 $2,192.8 $190.1 9 %
Adjustments:
Excess compensation related to CDK outage$— $2.0 
Total adjustments$— $2.0 
Adjusted:
Total adjusted gross profit$2,382.9 $2,194.8 $188.1 9 %



Non-GAAP Reconciliation - Franchised Dealerships Segment - SG&A Expenses
Three Months Ended December 31,Better / (Worse)
20252024Change% Change
(In millions)
Reported:
Compensation$249.4 $233.9 $(15.5)(7)%
Advertising18.5 11.9 (6.6)(55)%
Rent12.6 9.6 (3.0)(31)%
Other101.9 93.1 (8.8)(9)%
Total SG&A expenses$382.4 $348.5 $(33.9)(10)%
Adjustments:
Cyber insurance proceeds$— $10.0 
Acquisition and disposition related gain (loss)— 3.5 
Storm damage charges— (3.2)
Total SG&A adjustments$— $10.3 
Adjusted:
Total adjusted SG&A expenses$382.4 $358.8 $(23.6)(7)%
Reported:
SG&A expenses as a % of gross profit:
Compensation46.5 %45.2 %(130)bps
Advertising3.5 %2.3 %(120)bps
Rent2.3 %1.9 %(40)bps
Other19.1 %17.9 %(120)bps
Total SG&A expenses as a % of gross profit71.4 %67.3 %(410)bps
Adjustments:
Cyber insurance proceeds— %1.9 %
Acquisition and disposition related gain (loss)— %0.7 %
Storm damage charges— %(0.6)%
Total effect of adjustments— %2.0 %
Adjusted:
Total adjusted SG&A expenses as a % of gross profit71.4 %69.3 %(210)bps
Reported:
Total gross profit$535.8 $517.4 $18.4 4 %




Non-GAAP Reconciliation - Franchised Dealerships Segment - SG&A Expenses (Continued)
Twelve Months Ended December 31,Better / (Worse)
20252024Change% Change
(In millions)
Reported:
Compensation$956.9 $892.4 $(64.5)(7)%
Advertising69.9 55.1 (14.8)(27)%
Rent44.3 39.2 (5.1)(13)%
Other392.5 388.7 (3.8)(1)%
Total SG&A expenses$1,463.6 $1,375.4 $(88.2)(6)%
Adjustments:
Excess compensation related to CDK outage$— $(11.0)
Storm damage charges(5.0)(8.3)
Long-term compensation charges— (2.2)
Cyber insurance proceeds40.0 10.0 
Legal settlements(0.7)— 
Acquisition and disposition related gain (loss)(5.5)3.5 
Total SG&A adjustments$28.8 $(8.0)
Adjusted:
Total adjusted SG&A expenses$1,492.4 $1,367.4 $(125.0)(9)%
Reported:
SG&A expenses as a % of gross profit:
Compensation45.7 %46.0 %30 bps
Advertising3.3 %2.8 %(50)bps
Rent2.1 %2.0 %(10)bps
Other18.8 %20.1 %130 bps
Total SG&A expenses as a % of gross profit69.9 %70.9 %100 bps
Adjustments:
Excess compensation related to CDK outage— %(0.7)%
Storm damage charges(0.2)%(0.5)%
Long-term compensation charges— %(0.1)%
Cyber insurance proceeds1.8 %0.6 %
Legal settlements— %— %
Acquisition and disposition related gain (loss)(0.3)%0.2 %
Total effect of adjustments1.3 %(0.5)%
Adjusted:
Total adjusted SG&A expenses as a % of gross profit71.2 %70.4 %(80)bps
Reported:
Total gross profit$2,095.2 $1,941.2 $154.0 8 %
Adjustments:
Excess compensation related to CDK outage$— $2.0 
Total adjustments$— $2.0 
Adjusted:
Total adjusted gross profit$2,095.2 $1,943.2 $154.0 8 %






Non-GAAP Reconciliation - EchoPark Segment - SG&A Expenses
Three Months Ended December 31,Better / (Worse)
20252024Change% Change
(In millions)
Reported:
Compensation$24.5 $23.8 $(0.7)(3)%
Advertising7.7 6.7 (1.0)(15)%
Rent0.7 0.9 0.2 22 %
Other9.3 11.2 1.9 17 %
Total SG&A expenses$42.2 $42.6 $0.4 1 %
Adjustments:
Acquisition and disposition related gain (loss)$— $(0.8)
Total SG&A adjustments$— $(0.8)
Adjusted:
Total adjusted SG&A expenses$42.2 $41.8 $(0.4)(1)%
Reported:
SG&A expenses as a % of gross profit:
Compensation45.7 %48.6 %290 bps
Advertising14.5 %13.7 %(80)bps
Rent1.4 %1.9 %50 bps
Other17.3 %22.8 %550 bps
Total SG&A expenses as a % of gross profit78.9 %87.0 %810 bps
Adjustments:
Acquisition and disposition related gain (loss)— %(1.5)%
Total effect of adjustments— %(1.5)%
Adjusted:
Total adjusted SG&A expenses as a % of gross profit78.9 %85.5 %660 bps
Reported:
Total gross profit$53.5 $49.0 $4.5 9 %































Non-GAAP Reconciliation - EchoPark Segment - SG&A Expenses (Continued)

Twelve Months Ended December 31,Better / (Worse)
20252024Change% Change
(In millions)
Reported:
Compensation$100.6 $95.8 $(4.8)(5)%
Advertising30.2 27.7 (2.5)(9)%
Rent3.0 (1.7)(4.7)(276)%
Other39.0 43.9 4.9 11 %
Total SG&A expenses$172.8 $165.7 $(7.1)(4)%
Adjustments:
Severance and long-term compensation charges$— $(2.8)
Closed store accrued expenses— (2.1)
Excess compensation related to CDK outage— (0.4)
Gain (loss) on exit of leased dealerships— 3.0 
Acquisition and disposition related gain (loss)0.9 2.1 
Total SG&A adjustments$0.9 $(0.2)
Adjusted:
Total adjusted SG&A expenses$173.7 $165.5 $(8.2)(5)%
Reported:
SG&A expenses as a % of gross profit:
Compensation43.0 %46.1 %310 bps
Advertising12.9 %13.3 %40 bps
Rent1.3 %(0.8)%(210)bps
Other16.6 %21.1 %450 bps
Total SG&A expenses as a % of gross profit73.8 %79.7 %590 bps
Adjustments:
Severance and long-term compensation charges— %(1.4)%
Closed store accrued expenses— %(1.1)%
Excess compensation related to CDK outage— %(0.2)%
Gain (loss) on exit of leased dealerships— %1.5 %
Acquisition and disposition related gain (loss)0.4 %1.1 %
Total effect of adjustments0.4 %(0.1)%
Adjusted:
Total adjusted SG&A expenses as a % of gross profit74.2 %79.6 %540 bps
Reported:
Total gross profit$233.9 $207.9 $26.0 13 %




Non-GAAP Reconciliation - Powersports Segment - SG&A Expenses
Three Months Ended December 31,Better / (Worse)
20252024Change% Change
(In millions)
Reported:
Compensation$6.7 $5.9 $(0.8)(14)%
Advertising0.3 0.5 0.2 40 %
Rent(0.2)0.1 0.3 300 %
Other2.2 2.0 (0.2)(10)%
Total SG&A expenses$9.0 $8.5 $(0.5)(6)%
Adjustments:
Severance and long-term compensation charges$— $(0.5)
Total SG&A adjustments$— $(0.5)
Adjusted:
Total adjusted SG&A expenses$9.0 $8.0 $(1.0)(12.5)%
Reported:
SG&A expenses as a % of gross profit:
Compensation71.7 %77.5 %580 bps
Advertising3.0 %6.0 %300 bps
Rent(2.4)%1.4 %380 bps
Other23.9 %28.3 %440 bps
Total SG&A expenses as a % of gross profit96.2 %113.2 %1,700 bps
Adjustments:
Long-term compensation charges— %(6.6)%
Total effect of adjustments— %(6.6)%
Adjusted:
Total adjusted SG&A expenses as a % of gross profit96.2 %106.6 %1,040 bps
Reported:
Total gross profit$9.4 $7.5 $1.9 25 %



























Non-GAAP Reconciliation - Powersports Segment - SG&A Expenses (Continued)


Twelve Months Ended December 31,Better / (Worse)
20252024Change% Change
(In millions)
Reported:
Compensation$29.9 $25.7 $(4.2)(16)%
Advertising1.1 1.7 0.6 35 %
Rent(0.9)(0.9)— — %
Other11.7 9.4 (2.3)(24)%
Total SG&A expenses$41.8 $35.9 $(5.9)(16)%
Adjustments:
Severance and long-term compensation charges$— $(0.5)
Acquisition and disposition related gain (loss)(1.1)— 
Total SG&A adjustments$(1.1)$(0.5)
Adjusted:
Total adjusted SG&A expenses$40.7 $35.4 $(5.3)(15)%
Reported:
SG&A expenses as a % of gross profit:
Compensation55.6 %58.7 %310 bps
Advertising2.1 %3.9 %180 bps
Rent(1.6)%(2.1)%(50)bps
Other21.6 %21.5 %(10)bps
Total SG&A expenses as a % of gross profit77.7 %82.0 %430 bps
Adjustments:
Severance and long-term compensation charges— %(1.1)%
Acquisition and disposition related gain (loss)(1.9)%— %
Total effect of adjustments(1.9)%(1.1)%
Adjusted:
Total adjusted SG&A expenses as a % of gross profit75.8 %80.9 %510 bps
Reported:
Total gross profit$53.8 $43.7 $10.1 23 %







Non-GAAP Reconciliation - Franchised Dealerships Segment - Income (Loss) Before Taxes and Segment Income (Loss)
Three Months Ended December 31,Twelve Months Ended December 31,
20252024% Change20252024% Change
(In millions)
Reported:
Income (loss) before taxes$71.7 $89.4 (20)%$150.2 $256.4 (41)%
Add: impairment charges— 0.2 165.9 1.2 
Segment income (loss)$71.7 $89.6 (20)%$316.1 $257.6 23 %
Adjustments:
Cyber insurance proceeds$— $(10.0)$(40.0)$(10.0)
Acquisition and disposition related (gain) loss— (3.5)5.5 (3.5)
Legal settlements— — 0.7 — 
Storm damage charges— 3.2 5.0 8.3 
Long-term compensation charges— — — 2.2 
Excess compensation related to CDK outage— — — 13.0 
Total pre-tax adjustments$— $(10.3)$(28.8)$10.0 
Adjusted:
Segment income (loss)$71.7 $79.3 (10)%$287.3 $267.6 7 %


Non-GAAP Reconciliation - EchoPark Segment - Income (Loss) Before Taxes and Segment Income (Loss)
Three Months Ended December 31,Twelve Months Ended December 31,
20252024% Change20252024% Change
(In millions)
Reported:
Income (loss) before taxes$3.6 $(3.9)192 %$27.9 $0.8 NM
Add: impairment charges— 1.3 0.2 2.7 
Segment income (loss)$3.6 $(2.6)238 %$28.1 $3.5 703 %
Adjustments:
Acquisition and disposition related (gain) loss$— $0.8 $(0.9)$(2.1)
Loss (gain) on exit of leased dealerships— — — (3.0)
Severance and long-term compensation charges— — — 2.8 
Excess compensation related to CDK outage— — — 0.4 
Closed store accrued expenses— — — 2.1 
Total pre-tax adjustments$— $0.8 $(0.9)$0.2 
Adjusted:
Segment income (loss)$3.6 $(1.8)300 %$27.2 $3.7 635 %



Non-GAAP Reconciliation - Powersports Segment - Income (Loss) Before Taxes and Segment Income (Loss)
Three Months Ended December 31,Twelve Months Ended December 31,
20252024% Change20252024% Change
(In millions)
Reported:
Income (loss) before taxes$(2.0)$(3.4)41 %$(5.3)$(1.1)(382)%
Add: impairment charges— — 7.6 — 
Segment income (loss)$(2.0)$(3.4)41 %$2.3 $(1.1)309 %
Adjustments:
Acquisition and disposition related (gain) loss$— $— $1.1 $— 
Long-term compensation charges— 0.5 — 0.5 
Total pre-tax adjustments$— $0.5 $1.1 $0.5 
Adjusted:
Adjusted segment income (loss)$(2.0)$(2.9)31 %$3.4 $(0.6)667 %




Non-GAAP Reconciliation - Consolidated - Net Income (Loss) and Diluted Earnings (Loss) Per Share
Three Months Ended December 31, 2025Three Months Ended December 31, 2024
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 (loss), diluted shares, and diluted earnings (loss) per share34.4 $46.9 $1.36 35.2 $58.6 $1.67 
Adjustments:
Acquisition and disposition related (gain) loss$— $(2.7)
Impairment charges— 1.5 
Storm damage charges— 3.2 
Severance and long-term compensation charges— 0.5 
Cyber insurance proceeds— (10.0)
Total pre-tax adjustments$— $(7.5)
Tax effect of above items— 2.0 
Non-recurring tax items5.3 — 
Adjusted net income (loss), diluted shares, and diluted earnings (loss) per share34.4 $52.2 $1.52 35.2 $53.1 $1.51 


Twelve Months Ended December 31, 2025Twelve Months Ended December 31, 2024
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 (loss), diluted shares, and diluted earnings (loss) per share34.7 $118.7 $3.42 35.0 $216.0 $6.18 
Adjustments:
Acquisition and disposition related (gain) loss$5.6 $(5.6)
Storm damage charges5.0 8.3 
Legal settlements0.7 — 
Impairment charges173.8 3.9 
Loss (gain) on exit of leased dealerships— (3.0)
Severance and long-term compensation charges— 5.5 
Closed store accrued expenses— 2.1 
Cyber insurance proceeds(40.0)(10.0)
Excess compensation related to CDK outage— 13.4 
Total pre-tax adjustments$145.1 $14.6 
Tax effect of above items(39.9)(3.8)
Non-recurring tax items5.3 (31.0)
Adjusted net income (loss), diluted shares, and diluted earnings (loss) per share34.7 $229.2 $6.60 35.0 $195.8 $5.60 




Non-GAAP Reconciliation - Adjusted EBITDA

Three Months Ended December 31, 2025Three Months Ended December 31, 2024
Franchised Dealerships SegmentEchoPark SegmentPowersports
Segment		TotalFranchised Dealerships SegmentEchoPark SegmentPowersports
Segment		Total
(In millions)
Net income (loss)$46.9 $58.6 
Provision for income taxes26.3 23.5 
Income (loss) before taxes$71.7 $3.6 $(2.0)$73.2 $89.4 $(3.9)$(3.4)$82.1 
Non-floor plan interest (1)24.8 0.3 0.7 25.8 27.1 0.6 0.7 28.4 
Depreciation and amortization (2)37.4 4.9 1.4 43.7 34.2 5.4 1.2 40.8 
Stock-based compensation expense5.8 — — 5.8 5.5 — — 5.5 
Impairment charges— — — — 0.2 1.3 — 1.5 
Severance and long-term compensation charges— — — — — — 0.5 0.5 
Acquisition and disposition-related (gain) loss— — — — (3.5)0.8 — (2.7)
Storm damage charges— — — — 3.2 — — 3.2 
Cyber insurance proceeds— — — — (10.0)— — (10.0)
Adjusted EBITDA $139.7 $8.8 $0.1 $148.5 $146.1 $4.2 $(1.0)$149.3 

Twelve Months Ended December 31, 2025Twelve Months Ended December 31, 2024
Franchised Dealerships SegmentEchoPark SegmentPowersports
Segment		TotalFranchised Dealerships SegmentEchoPark SegmentPowersports
Segment		Total
(In millions)
Net income (loss)$118.7 $216.0 
Provision for income taxes54.1 40.1 
Income (loss) before taxes$150.2 $27.9 $(5.3)$172.8 $256.4 $0.8 $(1.1)$256.1 
Non-floor plan interest (1)99.1 1.6 2.8 103.5 107.0 2.6 2.6 112.2 
Depreciation and amortization (2)144.4 20.4 5.3 170.1 130.0 21.6 4.3 155.9 
Stock-based compensation expense23.1 — — 23.1 21.3 — — 21.3 
Loss (gain) on exit of leased dealerships— — — — — (3.0)— (3.0)
Impairment charges165.9 0.2 7.6 173.8 1.2 2.7 — 3.9 
Loss on debt extinguishment— — — — 0.6 — — 0.6 
Severance and long-term compensation charges— — — — 2.2 2.9 0.5 5.6 
Acquisition and disposition-related (gain) loss5.5 (0.9)1.1 5.6 (3.8)(2.5)— (6.3)
Storm damage charges5.0 — — 5.0 8.3 — — 8.3 
Excess compensation related to CDK outage— — — — 13.0 0.4 — 13.4 
Cyber insurance proceeds(40.0)— — (40.0)(10.0)— — (10.0)
Closed store accrued expenses— — — — — 2.1 — 2.1 
Loss (gain) on legal settlements0.7 — — 0.7 — — — — 
Adjusted EBITDA $553.9 $49.2 $11.5 $614.6 $526.2 $27.6 $6.3 $560.1 
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.


Investor Presentation | Fourth Quarter 2025 Updated February 18, 2026 SONIC AUTOMOTIVE EXHIBIT 99.2

 

NYSE SAH Forward-Looking Statements This presentation contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future events, are not historical facts and are based on our current expectations and assumptions regarding our business, the economy and other future conditions. These statements can generally be identified by lead-in words such as “may,” “will,” “should,” “could,” “believe,” “expect,” “estimate,” “anticipate,” “intend,” “plan,” “project,” “foresee” and other similar words or phrases. Statements that describe our Company’s objectives, plans or goals are also forward-looking statements. Examples of such forward-looking information we may be discussing in this presentation include, without limitation, the potential impact of tariffs on new vehicle pricing, inventory levels, and consumer demand, our anticipated future new vehicle unit sales volume, revenues and profitability (including per unit data), our anticipated future used vehicle unit sales volume, revenues and profitability (including per unit data), future levels of consumer demand for new and used vehicles, our anticipated future parts, service and collision repair (“Fixed Operations”) gross profit, our anticipated future finance and insurance (“F&I”) gross profit, our anticipated expense reductions, targeted increases to our technician headcount, hybrid and electric vehicle trends and related GPU headwinds, long-term annual revenue and profitability targets, anticipated future growth capital expenditures, profitability and pricing expectations in our EchoPark Segment, EchoPark’s omnichannel strategy, anticipated future EchoPark population coverage, anticipated future EchoPark revenue and unit sales volume, anticipated future performance and growth of our Franchised Dealerships Segment, anticipated growth and profitability of our Powersports Segment, anticipated liquidity positions, anticipated industry new vehicle sales volume, anticipated industry used vehicle supply, the implementation of growth and operating strategies, including acquisitions of dealerships and properties, anticipated future acquisition synergies, the return of capital to stockholders, anticipated future success and impacts from the implementation of our strategic initiatives, and earnings per share expectations. You are cautioned that these forward-looking statements are not guarantees of future performance, involve risks and uncertainties and actual results may differ materially from those projected in the forward-looking statements as a result of various factors. These risks and uncertainties include, without limitation, risks associated with tariffs, import product restrictions and foreign trade risks, economic conditions in the markets in which we operate, supply chain disruptions and manufacturing delays, labor shortages, the impacts of inflation and fluctuations in interest rates, new and used vehicle industry sales volume, the success of our operational strategies, the rate and timing of overall economic expansion or contraction, and the other risk factors described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 and other reports and information filed with the United States Securities and Exchange Commission (the “SEC”). These forward-looking statements, risks, uncertainties and additional factors speak only as of the date of this presentation. We undertake no obligation to update any such statements, except as required under federal securities laws and the rules and regulations of the SEC. 2

 

NYSE SAH Sonic Automotive Company Overview • Our Franchised Dealerships Segment is a full-service automotive retail business with a diversified brand portfolio and multiple strategic growth levers • 111 locations - $12.9 billion in FY 2025 revenues • Our EchoPark Segment provides high growth potential in a highly fragmented pre-owned vehicle market • 18 locations - $2.1 billion in FY 2025 revenues • Our Powersports Segment represents an early-stage consolidation growth opportunity at attractive multiples • 14 locations - $0.2 billion in FY 2025 revenues • We believe our diversified business model provides balanced growth opportunities across our Franchised Dealerships, EchoPark and Powersports Segments that differentiates Sonic from other companies in the automotive retail space 3 Note: Location counts as of February 18, 2026. * Refer to appendix for calculation and reconciliation of Adjusted EPS (a non-GAAP measure). $12.4 $14.0 $14.4 $14.2 $15.2 $3.9 $3.9 $8.06 $2.23 $4.97 $6.18 $3.42 $1.67 $1.36 $8.46 $9.61 $6.81 $5.60 $6.60 $1.51 $1.52 $- $2 $4 $6 $8 $10 $12 $14 $16 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 Q4 2024 Q4 2025 Total Revenues and Earnings Per Share Revenue (Billions) GAAP EPS Adjusted EPS* NYSE: SAH – A Fortune 500 Diversified Automotive Retailer

 

NYSE SAH Diversified Portfolio And Business Lines 4 Geographic Distribution TX 26% CA 25% CO 8% TN 7% FL 6% AL 5% NC 4% GA 4% ID 3% VA 2% MD 2% NV 2% All Others 6% Total Revenues By State Note: Percentages are percent of total for year ended December 31, 2025. 5% 34% 14% 43% 34% 7% 47% 16% Revenue Gross Profit New Vehicle Used Vehicle (Including Wholesale) Parts, Service & Collision Repair ("Fixed Operations") Finance & Insurance ("F&I") Category % of Total Revenue Franchised Brand % of Total Revenue BMW 20% Mercedes 11% Audi 5% Land Rover 5% Lexus 4% Porsche 4% Cadillac 3% Other Luxury (1) 3% Honda 9% Toyota 7% Other Import (2) 3% EchoPark 14% Non-Franchised 14% Chevrolet GMC Buick 5% Ford 4% Chrysler Dodge Jeep RAM 2% Powersports 1% Powersports (3) 1% Luxury 55% 19%Import Domestic 11% (1) Includes Jaguar, MINI, Polestar and Volvo (2) Includes Hyundai, Nissan, Subaru and Volkswagen (3) Includes Harley-Davidson, Kawasaki, BRP, Polaris, Honda, Suzuki, BMW Motorrad, Yamaha, Ducati, and Indian Motorcycle Business Line MixBrand Distribution

 

NYSE SAH Strategic Focus – Franchised Dealerships Segment • Manage tariff impact on inventory and pricing strategy to maintain market share • Focus on opportunities to offset normalizing new vehicle gross profit margins through growth in parts and service (Fixed Operations) and finance and insurance (F&I) gross profit • Actively manage new and used vehicle inventory turnover and adapt to electric vehicle (EV) and hybrid electric vehicle (HEV) transition • Focus on controllable selling, general and administrative (SG&A) expenses to maintain structural improvement in SG&A leverage as a percent of gross profit • Opportunity to pursue accretive strategic acquisition opportunities as market normalizes Franchised Dealerships Strategy $10.1 $11.5 $11.8 $11.9 $12.9 $3.4 $3.4 $530 $642 $448 $258 $316 $90 $72 $692 $839 $675 $526 $554 $146 $140 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 Q4 2024 Q4 2025 Total Revenues, Segment Income*, and Adjusted EBITDA* Revenue (Billions) Segment Income* (Millions) Adjusted EBITDA* (Millions) * Refer to appendix for calculation and reconciliation of Segment Income, Adjusted EBITDA and Adjusted SG&A Expenses As % Of Gross Profit (non-GAAP measures). 5 1.5% 1.7% 2.0% 2.8% 3.3% 2.3% 3.5% 40.8% 40.2% 42.1% 45.2% 45.7% 45.2% 46.5% 16.0% 16.2% 19.5% 20.4% 20.1% 19.9% 19.1% 2.6% 2.0% 2.0% 2.0% 2.1% 1.9% 2.3% 60.9% 60.1% 65.6% 70.4% 71.2% 69.3% 71.4% 61.0% 59.9% 64.6% 70.9% 69.9% 67.3% 71.4% FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 Q4 2024 Q4 2025 Reported and Adjusted SG&A Expenses as % of Gross Profit* Advertising* Compensation* Other* Rent* Adjusted SG&A Expenses* Reported SG&A Expenses

 

NYSE SAH Strategic Focus – Franchised Dealerships Segment (continued) 6 99.8 99.4 107.3 111.5 116.0 32.3 29.4 $49.9 $56.1 $57.9 $57.7 $59.9 $59.4 $62.3 $4,595 $6,591 $4,836 $3,382 $3,170 $3,238 $3,209 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 Q4 2024 Q4 2025 Retail New Vehicle Unit Sales Volume, Revenue, and Gross Profit Per Unit Unit Sales Volume (Thousands) Revenue Per Unit (Thousands) GPU 105.5 108.5 100.2 102.0 104.2 25.7 27.4 $27.5 $31.3 $30.4 $28.6 $29.6 $29.5 $29.2 $1,784 $1,607 $1,626 $1,473 $1,514 $1,401 $1,389 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 Q4 2024 Q4 2025 Retail Used Vehicle Unit Sales Volume, Revenue, and Gross Profit Per Unit Unit Sales Volume (Thousands) Revenue Per Unit (Thousands) GPU Retail New And Used Vehicles • Tariffs may create volatility in new and used vehicle pricing, volume and GPU in 2026 and beyond • The rate of new vehicle GPU decline has moderated, and we believe the "new normal" will remain higher than pre-pandemic levels, in the $2,500-$3,000 per unit range, subject to tariff impact on inventory levels, pricing and demand • We believe used vehicle GPU may decline over time if we are able to drive higher retail used vehicle unit sales volume by supplementing our inventory levels as off-lease inventory supply begins to grow in 2026 and beyond • Strategic focus to return to selling at least 100 retail used vehicles per store per month, on average (represents approximately 25% improvement in retail used vehicle volume throughput per store) • As new and used vehicle sales volumes have recovered from pandemic-induced lows, F&I gross profit and fixed operations gross profit have benefitted from higher industry retail volume Note: New and used vehicle GPU, sales volume, and F&I and fixed operations gross profit expectations and projections are estimates of future results. Actual results may differ. See “Forward-Looking Statements.”

 

NYSE SAH Strategic Focus – Franchised Dealerships Segment (continued) 7 Fixed Operations And F&I • Increased technician headcount and focus on technician retention and productivity is expected to drive additional fixed operations revenues and gross profit growth • Fixed operations parts and labor cost inflation is generally passed along to customers, supporting stable fixed operations profit margins over time • Vehicle affordability challenges may drive consumers to choose to repair their current vehicle to extend its life rather than replace it with a newer vehicle, benefitting fixed operations revenues • F&I gross profit per unit increased over 50% from pre- pandemic to FY 2025, driven primarily by higher warranty contract penetration rates • We believe F&I GPU will remain structurally higher than pre- pandemic as a result of optimized F&I presentation, consumer preferences, and lower cost structure • Even in an elevated interest rate environment, finance contract penetration rates remain robust and are supported by manufacturer financing or lease incentives only available at franchised dealerships $2,160 $2,453 $2,403 $2,374 $2,596 $2,424 $2,624 77.6% 72.9% 71.2% 72.6% 72.8% 72.6% 72.9% 44.4% 49.4% 48.9% 48.0% 48.9% 46.5% 49.0% FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 Q4 2024 Q4 2025 F&I Gross Profit Per Unit and Product Penetration Rates F&I GPU Finance Contract Penetration Rate Warranty Penetration Rate Note: Fixed operations gross profit, fixed operations profit margin and F&I GPU are estimates of future results. Actual results may differ. See “Forward-Looking Statements.” $673 $787 $853 $909 $1,006 $238 $258 50.2% 49.5% 49.7% 50.4% 51.1% 50.8% 50.9% FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 Q4 2024 Q4 2025 Fixed Operations Gross Profit and Gross Margin % Fixed Operations Gross Profit (Millions) Fixed Operations Gross Margin %

 

NYSE SAH Strategic Focus – Franchised Dealerships Segment (continued) Hybrid vs. Electric Vehicle Trends • Industry sales volume penetration rates for combined hybrid electric vehicles (HEV) and plug-in hybrid electric vehicles (PHEV) exceed the penetration rates for battery electric vehicles (BEV) and are trending upward • FY 2025 hybrid new vehicle GPU was higher than internal combustion engine (ICE) new vehicle GPU in our import and domestic brands, and marginally lower in our luxury brands, driven by better consumer demand and relatively lower hybrid days’ supply vs. both ICE and BEV • BEV new vehicle GPU has lagged both hybrid and ICE vehicles as a result of excess inventory supply, resulting in BEV sales negatively impacting total new vehicle GPU by approximately $200 in FY 2025 (improved from $350 in FY 2024) and $100 in Q4 2025 (improved from $300 in Q3 2025 due to higher EV sales mix in Q3 2025 due to expiration of federal EV tax credit) • To the extent OEMs can align BEV supply with natural consumer demand following the expiration of the federal EV tax credit, this BEV mix-driven GPU headwind could improve in 2026 and beyond • Initial BEV repair and maintenance trends show lower frequency but higher gross profit per repair order vs. ICE vehicles, while hybrid vehicles create opportunity to service both types of power trains 19.1% 4.9% 0% 4% 8% 12% 16% 20% D ec -1 8 Ju n- 19 D ec -1 9 Ju n- 20 D ec -2 0 Ju n- 21 D ec -2 1 Ju n- 22 D ec -2 2 Ju n- 23 D ec -2 3 Ju n- 24 D ec -2 4 Ju n- 25 D ec -2 5 Hybrid Vehicle vs. EV Industry Sales Volume Penetration Hybrid (HEV/PHEV) Penetration % BEV Penetration % So ur ce : M or ga n St an le y R es ea rc h 8 100% Luxury Import Domestic Total Sonic FY 2025 Average New Vehicle Relative GPU by Power Train BEV Hybrid ICE Average New Vehicle GPU Note: Average new vehicle relative GPU by power train in the chart above is shown as a percentage of blended average GPU for each brand group and franchised dealerships segment total GPU, where 100% represents the blended average GPU for each brand group and the franchised dealerships segment total GPU. Note: Hybrid and electric vehicle trends and GPU headwinds are estimates of future results. Actual results may differ. See “Forward- Looking Statements.”

 

NYSE SAH Strategic Focus – EchoPark Segment • FY 2025 EchoPark Segment adjusted EBITDA* of $49.2 million, up 78% year- over-year • Returned to positive segment adjusted EBITDA* in FY 2024 after 3 years of used vehicle industry headwinds • Expect to resume disciplined expansion of EchoPark footprint in late 2026 once used vehicle market conditions are supportive • Long-term goal to reach 90% of the U.S. population • Below-market pricing and no-haggle, transparent guest experience expected to drive market share gains • EchoPark maintains the #1 ranking in guest satisfaction among all major pre- owned vehicle retailers according to Reputation.com EchoPark Strategy * Refer to appendix for calculation and reconciliation of Adjusted EBITDA (a non-GAAP measure). Note: “EchoPark Operations” chart data includes currently operating stores and corporate/holding company results. “Closed Stores” chart data includes results from stores that are not currently in operation as of the date of this presentation. $(27.0) $(70.1) $(49.5) $32.5 $48.3 $5.0 $8.4 $(19.3) $(35.3) $(33.5) $(4.9) $0.9 $(0.8) $0.4 $(120) $(80) $(40) $- $40 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 Q4 2024 Q4 2025 EchoPark Segment Adjusted EBITDA* (Millions) EchoPark Operations (with Holding Company) Closed Stores 203 111 164 268 313 309 292 77,835 64,107 73,676 69,053 67,636 16,674 15,743 - 200 400 600 800 1,000 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 Q4 2024 Q4 2025 M on th ly V ol um e Pe r S to re EchoPark Segment Retail Unit Sales Volume Average Monthly Unit Volume Per Store Used Retail Unit Sales Volume 9

 

NYSE SAH Strategic Focus – EchoPark Segment (continued) 10 • Maintain focus on optimizing F&I product offerings, cost, and pricing to drive F&I GPU growth in FY 2026 • Focus on maintaining positive retail used vehicle GPU throughout FY 2026 driven by fast inventory turns, expected stability in the spread between wholesale and retail prices, and a focus on sourcing more inventory from non-auction sources, which should drive total GPU in the $3,400 to $3,600 range • Anticipate additional demand in the used vehicle market as a result of tariff effects on new vehicle pricing, which may put further pressure on used vehicle affordability • Used vehicle supply reached its lowest point in late 2025, due to lower levels of off-lease inventory as a result of declines in new vehicle industry sales volume and fewer lease originations since 2020 (see chart for supply trend of 3-year-old vehicles, which approximates the average age of vehicles in our inventory mix) • Beginning in 2026, gradual expansion of used vehicle supply and further normalization of used vehicle pricing should drive consumer demand and higher retail sales volume for EchoPark EchoPark Strategy $(47.8) $(105.4) $(83.0) $27.6 $49.2 $4.2 $8.8 $1,762 $2,657 $2,183 $3,029 $3,484 $2,974 $3,420 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 Q4 2024 Q4 2025 EchoPark Segment Adjusted EBITDA* and Total GPU (Used GPU + F&I GPU) Adjusted EBITDA* (Millions) Total GPU Source: J.D. Power Vehicle Age (0-5 Years) * Refer to appendix for calculation and reconciliation of Adjusted EBITDA (a non-GAAP measure). Note: F&I GPU growth, total GPU, used vehicle price and supply, and sales volume projections are estimates of future results. Actual results may differ. See “Forward-Looking Statements.” 4.8 5.1 5.1 5.1 4.7 4.1 3.4 3.7 3.8 4.6 0 3 6 9 12 15 18 2019 2020 2021 2022 2023 2024 2025 2026E 2027E 2028E (In M ill io ns ) Used Vehicle Supply Trend For Units Up To Five Years In Age 0 1 2 3 4 5 Forecast

 

NYSE SAH 11 • Standardized operating playbooks and processes in existing stores to facilitate future organic and acquisition growth • Completed roll out of modernized inventory management and marketing strategy in FY 2025 • Manage expenses and inventory to mitigate effects of weaker seasonal demand in Q1 and Q4 while supporting higher seasonal demand in Q2 and Q3 • Expect to realize synergies from network effect, driving potential gains in used vehicle volume and F&I • Identify desirable acquisition opportunities at attractive valuations to grow this segment and reduce seasonal volatility Powersports Strategy Note: Multiples are based on the most recent Haig Partners Report. Multiples are typically applied to a normalized dealership earnings before taxes. Luxury includes: BMW, Jaguar Land Rover, Lexus, Mercedes-Benz and Porsche Other Luxury includes: Audi, Cadillac and Volvo Import includes: Toyota, Honda, Subaru, Kia, Hyundai, VW Domestic includes: Buick, Chevrolet, Ford, GMC, Chrysler, Jeep, Dodge, RAM Strategic Focus – Powersports Segment * Refer to appendix for calculation and reconciliation of Adjusted EBITDA (a non-GAAP measure). Note: Gains in used vehicle volume and F&I are estimates of future results. Actual results may differ. See “Forward-Looking Statements.” $4.6 $10.8 $6.3 $11.5 $(1.0) $(0.7) $2.0 $10.1 $0.1 FY 2022 FY 2023 FY 2024 FY 2025 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Powersports Segment Adjusted EBITDA* (Millions) Industry Seasonally Weak In Q4 & Q1 Acquisition Multiple Franchise Type Low High High-Line Luxury 6.0x 10.0x Other Luxury 3.0x 5.0x Import 3.0x 8.5x Domestic 3.0x 4.5x Powersports 3.0x 4.5x

 

NYSE SAH Strategic Focus – Consolidated Company 12 • Expect to maintain strong balance sheet and free cash flows • Balanced capital allocation strategy prioritizes highest return opportunity • History of returning capital to shareholders via dividend and share repurchases • Quarterly dividend per share has grown 250% since FY 2019, current forward yield ~2.5% • Reduced outstanding shares by 22% since FY 2019 ($170 million remaining share repurchase authorization) • Net debt to adjusted EBITDA ratio* of 2.13 for the 12 months ended Q4 2025 is within our target leverage range Consolidated Company Strategy $399 $501 $374 $384 $306 $703 $794 $846 $862 $702 $- $200 $400 $600 $800 $1,000 Dec 2021 Dec 2022 Dec 2023 Dec 2024 Dec 2025 $ In M ill io ns Strong Balance Sheet and Liquidity Cash and Floor Plan Deposit Balance Total Liquidity * Refer to appendix for calculation and reconciliation of Net Debt to Adjusted EBITDA Ratio (a non-GAAP measure). Note: Dividend yield is based on stock price as of February 17, 2026. Note: Balance sheet and free cash flow projections are estimates of future results. Actual results may differ. See “Forward-Looking Statements.” $1,019 $102 $75 $55 $440 $298 $227 $204 $187 $150 $93 $262 $178 $34 $82 $18 $35 $40 $41 $49 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 $ In M ill io ns Capital Allocation Trend Acquisitions Cap Ex Share Repurchases Dividends Note: Cap Ex represents total purchases of land, property and equipment from consolidated statements of cash flows included in Sonic’s Annual Report on Form 10-K for the applicable fiscal year.

 

NYSE SAH Sonic Automotive FY 2026 Outlook • Anticipate new vehicle GPU in the $2,700 to $3,000 per unit range for FY 2026 – second half of 2026 could be lower than first half of 2026 depending on tariff impact of new model year vehicle pricing, affordability, and consumer demand • Anticipate FY 2026 used vehicle GPU in the $1,300 to $1,400 per unit range, depending on flow through tariff impact on pricing and demand • Expect mid single digit percentage growth in fixed operations gross profit for FY 2026 (customer pay growth expected to offset effects of lower warranty recall activity) • Expect F&I GPU in the $2,600 to $2,700 per unit range for FY 2026 Consolidated • Expect FY 2026 adjusted SG&A expenses as a % of gross profit* in the low 70% range, including effects of EchoPark brand marketing investment • Anticipate FY 2026 floor plan interest expense to increase approximately 10% from FY 2025, depending on inventory levels and floor plan offset balance • Anticipate FY 2026 effective income tax rate in the 28.0% to 29.0% range due to changes in corporate tax regulations Franchised Dealerships Segment EchoPark Segment • Expect adjusted EBITDA* between $25-$35 million, depending on effects of new store openings and brand marketing investment (estimate $10-20 million incremental advertising expense in FY 2026) • Expect high single digit percentage increase in used retail unit sales volume for FY 2026 • Expect total GPU in the $3,400 to $3,600 per unit range for FY 2026 Powersports Segment • Expect FY 2026 adjusted EBITDA* between $12-$15 million (majority in Q3 2026 due to seasonality and geographic footprint) * Refer to appendix for calculation and reconciliation of Adjusted EBITDA and Adjusted SG&A Expenses as a % of Gross Profit (non-GAAP measures). Note: Above outlook is based on projections. Actual results may differ. See “Forward-Looking Statements.” Financial data may also include certain forward-looking information that is not presented in accordance with GAAP. We believe that a quantitative reconciliation of such forward-looking information to the most directly comparable GAAP financial measure cannot be made available without unreasonable efforts, because a reconciliation of these non-GAAP financial measures would require an estimate of future non-operating items such as impairment charges, gain/loss on property dispositions, and/or non-recurring SG&A expenses. Neither the timing nor likelihood of these events, nor their probable significance, can be quantified with a reasonable degree of accuracy. Accordingly, a reconciliation of such forward-looking information to the most directly comparable GAAP financial measure is not provided. 13 Please see the below guidance for our current expectations for FY 2026.

 

Appendix: Financial Tables & Non-GAAP Reconciliations

 

NYSE SAH Definition of Non-GAAP Financial Measures 15 Adjusted Net Income is defined as GAAP net income, excluding certain non-operating charges and/or benefits that may affect the comparability of results from period to period. Adjusted Diluted Earnings Per Share (“Adjusted EPS”) is defined as Adjusted Net Income divided by diluted weighted-average common shares outstanding. Segment Income (Loss) is defined as segment income (loss) before taxes, less impairment charges. Adjusted Segment Income (Loss) is defined as Segment Income (Loss), excluding certain non- operating charges and/or benefits that may affect the comparability of results from period to period. Adjusted Gross Profit is defined as GAAP gross profit, excluding certain non-operating charges that may affect the comparability of results from period to period. Adjusted SG&A Expenses is defined as GAAP SG&A expenses, excluding certain non-operating charges and/or benefits that may affect the comparability of results from period to period. Adjusted SG&A Expenses as a % of Gross Profit is defined as GAAP SG&A expenses, excluding certain non-operating charges and/or benefits that may affect the comparability of results from period to period, expressed as a percentage of adjusted gross profit. Adjusted EBITDA is defined as GAAP net income (loss), excluding the provision for income taxes, non-floor plan interest expense, depreciation and amortization expense, stock-based compensation expense, and certain non-operating charges and/or benefits that may affect the comparability of results from period to period. Segment Adjusted EBITDA and Segment Adjusted EBITDA Loss is defined as segment income (loss) before taxes, excluding non-floor plan interest expense, depreciation and amortization expense, stock-based compensation expense, and certain non-operating charges and/or benefits that may affect the comparability of results from period to period. Net Debt to Adjusted EBITDA Ratio is defined as long-term debt (including current portion), less cash and equivalents, less outstanding floor plan deposit balance, expressed as a ratio to Adjusted EBITDA. To supplement the Company’s financial data presented in accordance with accounting principles generally accepted in the United States (“GAAP”), this presentation contains certain non- GAAP financial measures, such as adjusted net income, adjusted earnings per diluted share, segment income (loss), adjusted segment income (loss), adjusted SG&A expenses as a percentage of gross profit, adjusted EBITDA, adjusted EBITDA loss, and net debt to adjusted EBITDA ratio. The Company has provided reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures in the appendix to this presentation. Management believes that these non-GAAP financial measures are important supplemental measures of performance which improve the comparability and transparency of the Company’s disclosures and provide a meaningful presentation of the Company’s results. Management also considers these non-GAAP financial measures when making financial, operating and strategic decisions. Financial data may also include certain forward-looking information that is not presented in accordance with GAAP. We believe that a quantitative reconciliation of such forward-looking information to the most directly comparable GAAP financial measure cannot be made available without unreasonable efforts, because a reconciliation of these non-GAAP financial measures would require an estimate of future non-operating items such as impairment charges, gain/loss on property dispositions, and/or non-recurring SG&A expenses. Neither the timing nor likelihood of these events, nor their probable significance, can be quantified with a reasonable degree of accuracy. Accordingly, a reconciliation of such forward-looking information to the most directly comparable GAAP financial measure is not provided.

 

NYSE SAH GAAP Income Statement – Annual Trend – Consolidated 16 NM = Not MeaningfulNote: Earnings (loss) per share and gross profit per unit metrics are calculated based on actual unrounded amounts. FY 2025 Better / (Worse) % Change (In millions, except unit, per unit, and per share data) FY 2025 FY 2024 FY 2023 FY 2022 FY 2021 Year-Over-Year Revenues: Retail new vehicles 7,047.4$ 6,507.5$ 6,304.6$ 5,622.6$ 4,993.4$ 8% Fleet new vehicles 101.5 95.3 92.2 99.4 124.6 NM Total new vehicles 7,148.9 6,602.8 6,396.8 5,722.0 5,118.0 8% Used vehicles 4,872.6 4,780.1 5,213.6 5,515.4 4,933.6 2% Wholesale vehicles 314.1 287.1 318.8 484.9 367.2 NM Total vehicles 12,335.6 11,670.0 11,929.2 11,722.3 10,418.8 6% Parts, service and collision repair 2,019.1 1,846.5 1,759.5 1,599.7 1,340.4 9% Finance, insurance and other, net ("F&I") 798.9 707.8 683.7 679.1 637.2 13% Total revenues 15,153.6 14,224.3 14,372.4 14,001.1 12,396.4 7% Gross profit: Retail new vehicles 383.3 388.4 535.4 662.8 459.8 (1%) Fleet new vehicles 1.7 3.0 4.0 4.9 1.6 NM Total new vehicles 385.0 391.4 539.4 667.7 461.4 (2%) Used vehicles 181.1 170.7 151.2 180.8 133.0 6% Wholesale vehicles (11.2) (6.0) (2.6) (3.1) 9.6 NM Total vehicles 554.9 556.1 688.0 845.4 604.0 0% Parts, service and collision repair 1,029.1 928.9 874.0 792.5 673.1 11% Finance, insurance and other, net 798.9 707.8 683.7 679.1 637.2 13% Total gross profit 2,382.9 2,192.8 2,245.7 2,317.0 1,914.3 9% SG&A expenses (1,678.2) (1,577.0) (1,600.5) (1,555.1) (1,274.7) (6%) Impairment charges (173.8) (3.9) (79.3) (320.4) (0.1) NM Depreciation and amortization (163.4) (150.4) (142.3) (127.5) (101.1) (9%) Operating income (loss) 367.5 461.5 423.6 314.0 538.4 (20%) Interest expense, floor plan (84.7) (86.9) (67.2) (34.3) (16.7) 3% Interest expense, other, net (110.1) (118.0) (114.6) (89.9) (48.0) 7% Other income (expense), net 0.1 (0.5) 0.1 0.2 (15.5) NM Income (loss) from continuing operations before taxes 172.8 256.1 241.9 190.0 458.2 (33%) Income tax benefit (expense) (54.1) (40.1) (63.7) (101.5) (109.3) (35%) Net income (loss) from continuing operations 118.7$ 216.0$ 178.2$ 88.5$ 348.9$ (45%) Diluted weighted-average shares outstanding 34.7 35.0 35.9 39.7 43.3 1% Diluted earnings (loss) per share from continuing operations 3.42$ 6.18$ 4.97$ 2.23$ 8.06$ (45%) Unit sales volume: Retail new vehicles 121,124 115,694 112,110 101,168 99,943 5% Fleet new vehicles 1,991 1,805 2,000 2,115 3,543 10% Used vehicles 175,280 173,257 176,147 173,209 183,292 1% Wholesale vehicles 34,982 32,223 32,330 35,323 36,795 9% Gross profit per unit ("GPU"): Retail new vehicles 3,165$ 3,358$ 4,776$ 6,552$ 4,600$ (6%) Used vehicles 1,033$ 985$ 859$ 1,043$ 720$ 5% F&I 2,695$ 2,450$ 2,372$ 2,475$ 2,250$ 10%

 

NYSE SAH Non-GAAP Reconciliation – Annual Trend – Consolidated 17 Note: Earnings (loss) per share and SG&A expenses as a percentage of gross profit metrics are calculated based on actual unrounded amounts. Balance sheet amounts are as of December 31 for the FY then ended. (In millions, except per share data) FY 2025 FY 2024 FY 2023 FY 2022 FY 2021 Reported net income (loss) from continuing operations 118.7$ 216.0$ 178.2$ 88.5$ 348.9$ Adjustments: Impairment charges 173.8$ 3.9$ 79.3$ 320.4$ -$ Acquisition and disposition-related (gain) loss 5.6 (5.6) (20.7) (9.1) 1.2 Severance and long-term compensation charges - 5.5 5.1 4.4 6.5 Loss on debt extinguishment - - - - 15.6 Storm damage charges 5.0 8.3 1.9 - - Loss (gain) on exit of leased dealerships - (3.0) 4.3 - - Used vehicle inventory valuation adjustment - - 10.0 - - Closed store accrued expenses - 2.1 - - - Cyber insurance proceeds (40.0) (10.0) - - - Excess compensation related to CDK outage - 13.4 - - - Legal settlements 0.7 - - - - Total pre-tax adjustments 145.1 14.6 79.9 315.7 23.3 Tax effect of above items (39.9) (3.8) (19.9) (22.6) (5.9) Non-recurring tax items 5.3 (31.0) 5.8 - - Total net income effect of adjustments 110.5 (20.2) 65.8 293.1 17.4 Adjusted net income (loss) from continuing operations 229.2$ 195.8$ 244.0$ 381.6$ 366.3$ Diluted weighted-average shares outstanding 34.7 35.0 35.9 39.7 43.3 Adjusted diluted earnings (loss) per share from continuing operations 6.60$ 5.60$ 6.81$ 9.61$ 8.46$ Reported gross profit 2,382.9$ 2,192.8$ 2,245.7$ 2,317.0$ 1,914.3$ Excess compensation related to CDK outage - 2.0 - - - Adjusted gross profit 2,382.9$ 2,194.8$ 2,245.7$ 2,317.0$ 1,914.3$ Reported SG&A expenses (1,678.2)$ (1,577.0)$ (1,600.5)$ (1,555.1)$ (1,274.7)$ Acquisition and disposition-related (gain) loss 5.6 (5.6) (20.7) (9.1) 1.2 Severance and long-term compensation charges - 5.5 5.1 4.4 6.5 Storm damage charges 5.0 8.3 1.9 - - Loss (gain) on exit of leased dealerships - (3.0) 4.3 - - Closed store accrued expenses - 2.1 - - - Cyber insurance proceeds (40.0) (10.0) - - - Excess compensation related to CDK outage - 11.4 - - - Legal settlements 0.7 - - - - Adjusted SG&A expenses (1,706.9)$ (1,568.3)$ (1,609.9)$ (1,559.8)$ (1,267.0)$ Adjusted SG&A expenses as a percentage of gross profit 71.6% 71.5% 71.4% 67.3% 66.2% Reported net income (loss) 118.7$ 216.0$ 178.2$ 88.5$ 348.9$ Income tax (benefit) expense 54.1 40.1 63.7 101.5 109.3 Income (loss) before taxes 172.8 256.1 241.9 190.0 458.2 Non-floor plan interest 103.5 112.2 108.1 84.7 44.7 Depreciation and amortization 170.1 155.9 148.8 132.7 104.3 Stock-based compensation expense 23.1 21.3 23.3 16.0 15.0 Loss (gain) on exit of leased dealerships - (3.0) 4.3 - - Impairment charges 173.8 3.9 79.3 320.4 0.1 Loss on debt extinguishment - 0.6 - - 15.6 Severance and long-term compensation charges - 5.6 5.1 4.4 8.0 Excess compensation related to CDK outage - 13.4 - - - Acquisition and disposition-related (gain) loss 5.6 (6.3) (20.4) (9.7) (0.4) Storm damage charges 5.0 8.3 1.9 - - Used vehicle inventory valuation adjustment - - 10.0 - - Closed store accrued expenses - 2.1 - - - Cyber insurance proceeds (40.0) (10.0) - - - (Gain) loss on legal settlements 0.7 - - - - Adjusted EBITDA 614.6$ 560.1$ 602.3$ 738.5$ 645.5$ Long-term debt (including current portion) 1,615.4$ 1,588.0$ 1,676.6$ 1,751.7$ 1,561.2$ Cash and equivalents (6.3) (44.0) (28.9) (229.2) (299.4) Floor plan deposit balance (300.0) (340.0) (345.0) (272.0) (99.8) Net debt 1,309.1$ 1,204.0$ 1,302.7$ 1,250.5$ 1,162.0$ Net debt to adjusted EBITDA ratio 2.13 2.15 2.16 1.69 1.80 Long-term debt (including current portion) to adjusted EBITDA ratio 2.63 2.84 2.78 2.37 2.42

 

NYSE SAH GAAP Income Statement – Quarterly Trend – Consolidated 18 NM = Not MeaningfulNote: Earnings (loss) per share and gross profit per unit metrics are calculated based on actual unrounded amounts. Q4 2025 Better / (Worse) % Change (In millions, except unit, per unit, and per share data) Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Sequential Year-Over-Year Revenues: Retail new vehicles 1,852.2$ 1,872.8$ 1,666.1$ 1,656.3$ 1,932.3$ (1%) (4%) Fleet new vehicles 24.1 26.0 29.4 22.1 27.3 NM NM Total new vehicles 1,876.3 1,898.8 1,695.5 1,678.4 1,959.6 (1%) (4%) Used vehicles 1,213.8 1,253.1 1,180.7 1,225.0 1,197.6 (3%) 1% Wholesale vehicles 63.6 84.2 83.3 82.7 71.3 NM NM Total vehicles 3,153.7 3,236.1 2,959.5 2,986.1 3,228.5 (3%) (2%) Parts, service and collision repair 515.3 533.9 495.6 474.4 476.7 (3%) 8% Finance, insurance and other, net ("F&I") 202.3 203.8 202.1 190.8 190.6 (1%) 6% Total revenues 3,871.3 3,973.8 3,657.2 3,651.3 3,895.8 (3%) (1%) Gross profit: Retail new vehicles 97.3 97.4 99.2 89.4 106.6 0% (9%) Fleet new vehicles 0.7 - 0.5 0.6 0.7 NM NM Total new vehicles 98.0 97.4 99.7 90.0 107.3 1% (9%) Used vehicles 41.4 45.2 48.1 46.4 37.8 (8%) 10% Wholesale vehicles (5.2) (3.3) (1.6) (1.4) (3.3) NM NM Total vehicles 134.2 139.3 146.2 135.0 141.8 (4%) (5%) Parts, service and collision repair 262.2 272.4 253.9 240.6 241.6 (4%) 9% Finance, insurance and other, net 202.3 203.8 202.1 190.8 190.6 (1%) 6% Total gross profit 598.7 615.5 602.2 566.4 574.0 (3%) 4% SG&A expenses (433.7) (451.6) (412.6) (380.3) (399.6) 4% (9%) Impairment charges - - (172.4) (1.4) (1.5) NM NM Depreciation and amortization (41.8) (41.2) (40.5) (39.7) (39.4) (2%) (6%) Operating income (loss) 123.2 122.7 (23.3) 145.0 133.5 0% (8%) Interest expense, floor plan (22.4) (23.9) (18.3) (20.0) (21.4) 6% (5%) Interest expense, other, net (27.6) (27.5) (27.4) (27.6) (29.9) 0% 8% Other income (expense), net - (0.1) (0.1) - (0.1) NM NM Income (loss) before taxes 73.2 71.2 (69.1) 97.4 82.1 3% (11%) Income tax benefit (expense) (26.3) (24.4) 23.5 (26.8) (23.5) (8%) (12%) Net income (loss) 46.9$ 46.8$ (45.6)$ 70.6$ 58.6$ 0% (20%) Diluted weighted-average shares outstanding 34.4 35.1 34.1 34.6 35.2 2% 2% Diluted earnings (loss) per share 1.36$ 1.33$ (1.34)$ 2.04$ 1.67$ 2% (19%) Unit sales volume: Retail new vehicles 30,485 32,086 29,478 29,075 33,190 (5%) (8%) Fleet new vehicles 458 579 571 383 506 (21%) (9%) Used vehicles 43,784 44,167 42,512 44,817 42,896 (1%) 2% Wholesale vehicles 7,252 8,957 9,368 9,405 8,460 (19%) (14%) Gross profit per unit ("GPU"): Retail new vehicles 3,193$ 3,035$ 3,365$ 3,075$ 3,212$ 5% (1%) Used vehicles 946$ 1,024$ 1,131$ 1,034$ 881$ (8%) 7% F&I 2,724$ 2,673$ 2,807$ 2,582$ 2,505$ 2% 9%

 

NYSE SAH Non-GAAP Reconciliation – Quarterly Trend – Consolidated 19 NM = Not MeaningfulNote: Earnings (loss) per share and SG&A expenses as a percentage of gross profit metrics are calculated based on actual unrounded amounts. Q4 2025 Better / (Worse) % Change (In millions, except per share data) Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Sequential Year-Over-Year Reported net income (loss) 46.9$ 46.8$ (45.6)$ 70.6$ 58.6$ 0% (20%) Adjustments: Impairment charges -$ -$ 172.4$ 1.4$ 1.5$ NM NM Acquisition and disposition-related (gain) loss - 3.0 1.6 1.0 (2.7) NM NM Severance and long-term compensation charges - - - - 0.5 NM NM Storm damage charges - - 4.1 0.9 3.2 NM NM Cyber insurance proceeds - - (10.0) (30.0) (10.0) NM NM Legal settlements - 0.7 - - - NM NM Total pre-tax adjustments - 3.7 168.1 (26.7) (7.5) NM NM Tax effect of above items - (1.0) (46.3) 7.4 2.0 NM NM Non-recurring tax items 5.3 - - - - NM NM Total net income effect of adjustments 5.3 2.7 121.8 (19.3) (5.5) NM NM Adjusted net income (loss) 52.2$ 49.5$ 76.2$ 51.3$ 53.1$ 5% (2%) Diluted weighted-average shares outstanding 34.4 35.1 34.8 34.6 35.2 2% 2% Adjusted diluted earnings (loss) per share 1.52$ 1.41$ 2.19$ 1.48$ 1.51$ 8% 1% Reported gross profit 598.7$ 615.5$ 602.2$ 566.4$ 574.0$ (3%) 4% Reported SG&A expenses (433.7)$ (451.6)$ (412.6)$ (380.3)$ (399.6)$ 4% (9%) Acquisition and disposition-related (gain) loss - 3.0 1.6 1.0 (2.7) NM NM Severance and long-term compensation charges - - - - 0.5 NM NM Storm damage charges - - 4.1 0.9 3.2 NM NM Cyber insurance proceeds - - (10.0) (30.0) (10.0) NM NM Legal settlements - 0.7 - - - NM NM Adjusted SG&A expenses (433.7)$ (447.9)$ (416.9)$ (408.4)$ (408.6)$ 3% (6%) Adjusted SG&A expenses as a percentage of gross profit 72.4% 72.8% 69.2% 72.1% 71.2% 40 bps (120) bps Reported net income (loss) 46.9$ 46.8$ (45.6)$ 70.6$ 58.6$ 0% (20%) Income tax (benefit) expense 26.3 24.4 (23.5) 26.8 23.5 NM NM Income (loss) before taxes 73.2 71.2 (69.1) 97.4 82.1 3% (11%) Non-floor plan interest 25.8 25.8 25.8 26.1 28.4 NM NM Depreciation and amortization 43.7 42.9 42.2 41.4 40.8 NM NM Stock-based compensation expense 5.8 5.8 5.7 5.8 5.5 NM NM Impairment charges - - 172.4 1.4 1.5 NM NM Severance and long-term compensation charges - - - - 0.5 NM NM Acquisition and disposition-related (gain) loss - 3.0 1.6 1.0 (2.7) NM NM Storm damage charges - - 4.1 0.9 3.2 NM NM Cyber insurance proceeds - - (10.0) (30.0) (10.0) NM NM Loss (gain) on legal settlements - 0.7 - - - NM NM Adjusted EBITDA 148.5$ 149.4$ 172.7$ 144.0$ 149.3$ (1%) (1%)

 

NYSE SAH GAAP Income Statement – Annual Trend – Franchised Dealerships Segment 20 NM = Not MeaningfulNote: Gross profit per unit metrics are calculated based on actual unrounded amounts. FY 2025 Better / (Worse) % Change (In millions, except unit and per unit data) FY 2025 FY 2024 FY 2023 FY 2022 FY 2021 Year-Over-Year Revenues: Retail new vehicles 6,941.9$ 6,425.5$ 6,215.0$ 5,581.6$ 4,984.4$ 8% Fleet new vehicles 101.5 95.3 92.2 99.4 124.6 NM Total new vehicles 7,043.4 6,520.8 6,307.2 5,681.0 5,109.0 8% Used vehicles 3,087.0 2,919.8 3,050.3 3,391.5 2,901.0 6% Wholesale vehicles 207.0 188.9 204.5 314.0 257.2 NM Total vehicles 10,337.4 9,629.5 9,562.0 9,386.5 8,267.2 7% Parts, service and collision repair 1,970.2 1,802.9 1,714.2 1,588.0 1,340.4 9% Finance, insurance and other, net ("F&I") 571.5 506.8 498.6 510.1 443.5 13% Total revenues 12,879.1 11,939.2 11,774.8 11,484.6 10,051.1 8% Gross profit: Retail new vehicles 367.6 376.9 518.7 655.3 458.8 (2%) Fleet new vehicles 1.7 3.0 4.0 4.9 1.5 NM Total new vehicles 369.3 379.9 522.7 660.2 460.3 (3%) Used vehicles 157.8 150.2 162.9 174.5 188.1 5% Wholesale vehicles (9.3) (4.6) (3.3) (6.4) 0.6 NM Total vehicles 517.8 525.5 682.3 828.3 649.0 (1%) Parts, service and collision repair 1,005.9 908.9 852.7 786.7 673.1 11% Finance, insurance and other, net 571.5 506.8 498.6 510.1 443.5 13% Total gross profit 2,095.2 1,941.2 2,033.6 2,125.1 1,765.6 8% SG&A expenses (1,463.6) (1,375.4) (1,314.6) (1,273.0) (1,076.9) (6%) Impairment charges (165.9) (1.2) (1.0) (115.5) - NM Depreciation and amortization (137.7) (124.4) (112.3) (101.8) (84.8) (11%) Operating income (loss) 328.0 440.2 605.7 634.8 603.9 (26%) Interest expense, floor plan (72.0) (70.6) (49.2) (23.6) (11.8) (2%) Interest expense, other, net (105.9) (112.7) (109.7) (85.1) (46.3) 6% Other income (expense), net 0.1 (0.5) 0.2 - (15.5) NM Income (loss) before taxes 150.2$ 256.4$ 447.0$ 526.1$ 530.3$ (41%) Unit sales volume: Retail new vehicles 115,981 111,450 107,257 99,424 99,815 4% Fleet new vehicles 1,991 1,805 2,000 2,115 3,543 10% Used vehicles 104,202 101,976 100,210 108,512 105,457 2% Wholesale vehicles 22,868 21,018 20,602 24,052 25,128 9% Gross profit per unit ("GPU"): Retail new vehicles 3,170$ 3,382$ 4,836$ 6,591$ 4,595$ (6%) Used vehicles 1,514$ 1,473$ 1,626$ 1,607$ 1,784$ 3% F&I 2,596$ 2,374$ 2,403$ 2,453$ 2,160$ 9%

 

NYSE SAH Non-GAAP Reconciliation – Annual Trend – Franchised Dealerships Segment 21 Note: SG&A expenses as a percentage of gross profit metrics are calculated based on actual unrounded amounts. (In millions) FY 2025 FY 2024 FY 2023 FY 2022 FY 2021 Reported income (loss) before taxes 150.2$ 256.4$ 447.0$ 526.1$ 530.3$ Impairment charges 165.9 1.2 1.0 115.5 - Segment income (loss) 316.1$ 257.6$ 448.0$ 641.6$ 530.3$ Acquisition and disposition-related (gain) loss 5.5 (3.5) (20.9) (9.1) 1.2 Long-term compensation charges - 2.2 - 4.4 - Loss on debt extinguishment - - - - 15.6 Storm damage charges 5.0 8.3 1.9 - - Excess compensation related to CDK outage - 13.0 - - - Cyber insurance proceeds (40.0) (10.0) - - - Legal settlements 0.7 - - - - Adjusted segment income (loss) 287.3$ 267.6$ 429.0$ 636.9$ 547.1$ Reported gross profit 2,095.2$ 1,941.2$ 2,033.6$ 2,125.1$ 1,765.6$ Excess compensation related to CDK outage - 2.0 - - - Adjusted gross profit 2,095.2$ 1,943.2$ 2,033.6$ 2,125.1$ 1,765.6$ Reported SG&A expenses (1,463.6)$ (1,375.4)$ (1,314.6)$ (1,273.0)$ (1,076.9)$ Acquisition and disposition-related (gain) loss 5.5 (3.5) (20.9) (9.1) 1.2 Long-term compensation charges - 2.2 - 4.4 - Storm damage charges 5.0 8.3 1.9 - - Excess compensation related to CDK outage - 11.0 - - - Cyber insurance proceeds (40.0) (10.0) - - - Legal settlements 0.7 - - - - Adjusted SG&A expenses (1,492.4)$ (1,367.4)$ (1,333.6)$ (1,277.7)$ (1,075.7)$ Adjusted SG&A expenses as a percentage of gross profit 71.2% 70.4% 65.6% 60.1% 60.9% Income (loss) before taxes 150.2 256.4 447.0 526.1 530.3 Non-floor plan interest 99.1 107.0 103.2 80.0 43.0 Depreciation and amortization 144.4 130.0 118.8 107.0 87.9 Stock-based compensation expense 23.1 21.3 23.3 16.0 15.0 Impairment charges 165.9 1.2 1.0 115.5 15.6 Loss on debt extinguishment - 0.6 - - - Severance and long-term compensation charges - 2.2 - 4.4 - Excess compensation related to CDK outage - 13.0 - - - Acquisition and disposition-related (gain) loss 5.5 (3.8) (20.7) (9.7) - Storm damage charges 5.0 8.3 1.9 - - Cyber insurance proceeds (40.0) (10.0) - - - Loss (gain) on legal settlements 0.7 - - - - Adjusted EBITDA 553.9$ 526.2$ 674.5$ 839.3$ 691.8$

 

NYSE SAH GAAP Income Statement – Quarterly Trend – Franchised Dealerships Segment 22 NM = Not MeaningfulNote: Gross profit per unit metrics are calculated based on actual unrounded amounts. Q4 2025 Better / (Worse) % Change (In millions, except unit and per unit data) Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Sequential Year-Over-Year Revenues: Retail new vehicles 1,831.8$ 1,834.0$ 1,639.1$ 1,636.9$ 1,914.8$ 0% (4%) Fleet new vehicles 24.0 26.0 29.5 22.1 27.2 NM NM Total new vehicles 1,855.8 1,860.0 1,668.6 1,659.0 1,942.0 0% (4%) Used vehicles 799.7 796.7 744.9 745.6 757.0 0% 6% Wholesale vehicles 41.8 52.8 57.8 54.6 49.8 NM NM Total vehicles 2,697.3 2,709.5 2,471.3 2,459.2 2,748.8 0% (2%) Parts, service and collision repair 507.8 510.1 484.9 467.4 469.7 0% 8% Finance, insurance and other, net ("F&I") 149.1 147.6 144.3 130.6 140.5 1% 6% Total revenues 3,354.2 3,367.2 3,100.5 3,057.2 3,359.0 0% 0% Gross profit: Retail new vehicles 94.3 91.3 95.2 86.7 104.4 3% (10%) Fleet new vehicles 0.7 - 0.6 0.6 0.7 NM NM Total new vehicles 95.0 91.3 95.8 87.3 105.1 4% (10%) Used vehicles 38.1 40.4 39.5 39.9 36.0 (6%) 6% Wholesale vehicles (4.9) (2.9) (0.9) (1.0) (2.7) NM NM Total vehicles 128.2 128.8 134.4 126.2 138.4 (1%) (7%) Parts, service and collision repair 258.5 261.3 248.9 237.2 238.5 (1%) 8% Finance, insurance and other, net 149.1 147.6 144.3 130.6 140.5 1% 6% Total gross profit 535.8 537.7 527.6 494.0 517.4 0% 4% SG&A expenses (382.4) (395.1) (360.2) (325.9) (348.5) 3% (10%) Impairment charges - - (165.9) - (0.2) NM NM Depreciation and amortization (35.6) (34.6) (34.1) (33.4) (32.7) (3%) (9%) Operating income (loss) 117.8 108.0 (32.6) 134.7 136.0 9% (13%) Interest expense, floor plan (19.6) (20.7) (15.3) (16.3) (18.0) 5% (9%) Interest expense, other, net (26.5) (26.4) (26.3) (26.6) (28.6) 0% 7% Other income (expense), net - (0.1) (0.1) 0.1 - NM NM Income (loss) before taxes 71.7$ 60.8$ (74.3)$ 91.9$ 89.4$ 18% (20%) Unit sales volume: Retail new vehicles 29,400 30,415 28,084 28,082 32,250 (3%) (9%) Fleet new vehicles 458 579 571 383 506 (21%) (9%) Used vehicles 27,401 26,407 24,953 25,441 25,702 4% 7% Wholesale vehicles 4,811 5,649 6,213 6,195 5,692 (15%) (15%) Gross profit per unit ("GPU"): Retail new vehicles 3,209$ 3,001$ 3,391$ 3,089$ 3,238$ 7% (1%) Used vehicles 1,389$ 1,528$ 1,583$ 1,568$ 1,401$ (9%) (1%) F&I 2,624$ 2,597$ 2,721$ 2,439$ 2,424$ 1% 8%

 

NYSE SAH Non-GAAP Reconciliation – Quarterly Trend – Franchised Dealerships Segment 23 NM = Not MeaningfulNote: SG&A expenses as a percentage of gross profit metrics are calculated based on actual unrounded amounts. Q4 2025 Better / (Worse) % Change (In millions) Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Sequential Year-Over-Year Reported income (loss) before taxes 71.7$ 60.8$ (74.3)$ 91.9$ 89.4$ 18% (20%) Impairment charges - - 165.9 - 0.2 NM NM Segment income (loss) 71.7$ 60.8$ 91.6$ 91.9$ 89.6$ 18% (20%) Acquisition and disposition-related (gain) loss - 2.8 2.4 0.3 (3.5) NM NM Storm damage charges - - 4.1 0.9 3.2 NM NM Cyber insurance proceeds - - (10.0) (30.0) (10.0) NM NM Legal settlements - 0.7 - - - NM NM Adjusted segment income (loss) 71.7$ 64.3$ 88.1$ 63.1$ 79.3$ 11% (10%) Reported gross profit 535.8$ 537.7$ 527.6$ 494.0$ 517.4$ 0% 4% Reported SG&A expenses (382.4)$ (395.1)$ (360.2)$ (325.9)$ (348.5)$ 3% (10%) Acquisition and disposition-related (gain) loss - 2.8 2.4 0.3 (3.5) NM NM Storm damage charges - - 4.1 0.9 3.2 NM NM Cyber insurance proceeds - - (10.0) (30.0) (10.0) NM NM Legal settlements - 0.7 - - - NM NM Adjusted SG&A expenses (382.4)$ (391.6)$ (363.7)$ (354.7)$ (358.8)$ 2% (7%) Adjusted SG&A expenses as a percentage of gross profit 71.4% 72.8% 68.9% 71.8% 69.3% 140 bps (210) bps Income (loss) before taxes 71.7$ 60.8$ (74.3)$ 91.9$ 89.4$ 18% (20%) Non-floor plan interest 24.8 24.7 24.7 24.9 27.1 NM NM Depreciation and amortization 37.4 36.3 35.8 35.1 34.2 NM NM Stock-based compensation expense 5.8 5.8 5.7 5.8 5.5 NM NM Impairment charges - - 165.9 - 0.2 NM NM Acquisition and disposition-related (gain) loss - 2.8 2.4 0.3 (3.5) NM NM Storm damage charges - - 4.1 0.9 3.2 NM NM Cyber insurance proceeds - - (10.0) (30.0) (10.0) NM NM Loss (gain) on legal settlements - 0.7 - - - NM NM Adjusted EBITDA 139.7$ 131.1$ 154.3$ 128.9$ 146.1$ 7% (4%)

 

NYSE SAH GAAP Income Statement – Annual Trend – EchoPark Segment 24 NM = Not MeaningfulNote: Gross profit per unit metrics are calculated based on actual unrounded amounts. FY 2025 Better / (Worse) % Change (In millions, except unit, per unit, and per share data) FY 2025 FY 2024 FY 2023 FY 2022 FY 2021 Year-Over-Year Revenues: Total new vehicles -$ -$ 1.0$ 9.2$ 9.0$ 0% Used vehicles 1,747.8 1,838.0 2,143.8 2,116.8 2,032.6 (5%) Wholesale vehicles 104.6 95.8 168.1 209.9 82.4 NM Total vehicles 1,852.4 1,933.8 2,312.9 2,335.9 2,124.0 (4%) Finance, insurance and other, net ("F&I") 219.2 194.0 177.9 166.4 193.7 13% Total revenues 2,071.6 2,127.8 2,434.4 2,463.0 2,345.3 (3%) Gross profit: Total new vehicles - - 0.1 1.1 1.1 0% Used vehicles 16.5 15.2 (17.1) 4.4 (55.2) 8% Wholesale vehicles (1.8) (1.3) 1.9 2.4 7.3 NM Total vehicles 14.7 13.9 (15.1) 7.9 (46.8) 6% Finance, insurance and other, net 219.2 194.0 177.9 166.4 193.7 13% Total gross profit 233.9 207.9 161.8 175.1 148.8 13% SG&A expenses (172.8) (165.7) (247.0) (269.9) (197.8) (4%) Impairment charges (0.2) (2.7) (78.3) (204.9) (0.1) NM Depreciation and amortization (20.4) (21.8) (26.6) (24.6) (16.3) 6% Operating income (loss) 40.5 17.7 (190.1) (324.3) (65.4) 128% Interest expense, floor plan (11.1) (14.2) (17.4) (10.6) (5.0) 22% Interest expense, other, net (1.5) (2.7) (3.2) (3.9) (1.7) 46% Other income (expense), net - - (0.1) - - NM Income (loss) before taxes 27.9$ 0.8$ (210.8)$ (338.8)$ (72.1)$ 3383% Unit sales volume: Retail new vehicles - - 11 152 128 0% Used vehicles 67,636 69,053 73,676 64,107 77,835 (2%) Wholesale vehicles 11,836 11,059 11,512 11,236 11,667 7% Gross profit per unit ("GPU"): Retail new vehicles N/A N/A 6,934$ 7,510$ 8,303$ NM Total used vehicle and F&I 3,484$ 3,029$ 2,183$ 2,657$ 1,762$ 15%

 

NYSE SAH Non-GAAP Reconciliation – Annual Trend – EchoPark Segment 25 Note: SG&A expenses as a percentage of gross profit metrics are calculated based on actual unrounded amounts. (In millions) FY 2025 FY 2024 FY 2023 FY 2022 FY 2021 Reported income (loss) before taxes 27.9$ 0.8$ (210.8)$ (338.8)$ (72.1)$ Impairment charges 0.2 2.7 78.3 204.9 0.1 Segment income (loss) 28.1$ 3.5$ (132.5)$ (133.9)$ (72.0)$ Acquisition and disposition-related (gain) loss (0.9) (2.1) 0.3 - - Severance and long-term compensation charges - 2.8 5.1 - 6.5 Loss (gain) on exit of leased dealerships - (3.0) 4.3 - - Used vehicle inventory valuation adjustment - - 10.0 - - Excess compensation related to CDK outage - 0.4 - - - Closed store accrued expenses - 2.1 - - - Adjusted segment income (loss) 27.2$ 3.7$ (112.8)$ (133.9)$ (65.5)$ Reported gross profit 233.9$ 207.9$ 161.8$ 175.1$ 148.8$ Used vehicle inventory valuation adjustment - - 10.0 - - Adjusted gross profit 233.9$ 207.9$ 171.8$ 175.1$ 148.8$ Reported SG&A expenses (172.8)$ (165.7)$ (247.0)$ (269.9)$ (197.8)$ Acquisition and disposition-related (gain) loss (0.9) (2.1) 0.3 - - Severance and long-term compensation charges - 2.8 5.1 - 6.5 Loss (gain) on exit of leased dealerships - (3.0) 4.3 - - Excess compensation related to CDK outage - 0.4 - - - Closed store accrued expenses - 2.1 - - - Adjusted SG&A expenses (173.7)$ (165.5)$ (237.3)$ (269.9)$ (191.3)$ Adjusted SG&A expenses as a percentage of gross profit 74.2% 79.6% 138.2% 154.1% 128.6% Income (loss) before taxes 27.9$ 0.8$ (210.8)$ (338.8)$ (72.1)$ Non-floor plan interest 1.6 2.6 3.2 3.7 1.7 Depreciation and amortization 20.4 21.6 26.6 24.8 16.4 Loss (gain) on exit of leased dealerships - (3.0) 4.3 - - Impairment charges 0.2 2.7 78.3 204.9 0.1 Severance and long-term compensation charges - 2.9 5.1 - 8.0 Excess compensation related to CDK outage - 0.4 - - - Acquisition and disposition-related (gain) loss (0.9) (2.5) 0.3 - (0.4) Closed store accrued expenses - 2.1 - - - Used vehicle inventory valuation adjustment - - 10.0 - - Adjusted EBITDA 49.2$ 27.6$ (83.0)$ (105.4)$ (46.3)$ Adjusted EBITDA - Closed Stores 0.9$ (4.9)$ (33.5)$ (35.3)$ (19.3)$ Adjusted EBITDA - EchoPark Operations (with Holding Company) 48.3 32.5 (49.5) (70.1) (27.0) Adjusted EBITDA - Total EchoPark Segment 49.2$ 27.6$ (83.0)$ (105.4)$ (46.3)$

 

NYSE SAH GAAP Income Statement – Quarterly Trend – EchoPark Segment 26 NM = Not MeaningfulNote: Gross profit per unit metrics are calculated based on actual unrounded amounts. Q4 2025 Better / (Worse) % Change (In millions, except unit and per unit data) Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Sequential Year-Over-Year Revenues: Used vehicles 407.5$ 439.2$ 427.4$ 473.7$ 436.0$ (7%) (7%) Wholesale vehicles 21.5 30.4 25.4 27.3 21.4 NM NM Total vehicles 429.0 469.6 452.8 501.0 457.4 (9%) (6%) Finance, insurance and other, net ("F&I") 51.7 52.9 55.8 58.7 48.8 (2%) 6% Total revenues 480.7 522.5 508.6 559.7 506.2 (8%) (5%) Gross profit: Used vehicles 2.1 2.0 6.9 5.4 0.8 5% 163% Wholesale vehicles (0.3) (0.5) (0.6) (0.2) (0.6) NM NM Total vehicles 1.8 1.5 6.3 5.2 0.2 20% 800% Finance, insurance and other, net 51.7 52.9 55.8 58.7 48.8 (2%) 6% Total gross profit 53.5 54.4 62.1 63.9 49.0 (2%) 9% SG&A expenses (42.2) (43.5) (42.2) (44.8) (42.6) 3% 1% Impairment charges - - - (0.2) (1.3) NM NM Depreciation and amortization (4.9) (5.1) (5.2) (5.2) (5.4) 5% 9% Operating income (loss) 6.4 5.8 14.7 13.7 (0.3) 11% 2233% Interest expense, floor plan (2.5) (2.8) (2.6) (3.1) (3.0) 11% 17% Interest expense, other, net (0.3) (0.4) (0.4) (0.4) (0.7) 19% 57% Other income (expense), net - - - (0.1) 0.1 NM NM Income (loss) before taxes 3.6$ 2.6$ 11.7$ 10.1$ (3.9)$ 39% 192% Unit sales volume: Used vehicles 15,743 16,353 16,742 18,798 16,674 (4%) (6%) Wholesale vehicles 2,365 3,224 3,097 3,150 2,752 (27%) (14%) Gross profit per unit ("GPU"): Total used vehicle and F&I 3,420$ 3,359$ 3,747$ 3,411$ 2,974$ 2% 15%

 

NYSE SAH Non-GAAP Reconciliation – Quarterly Trend – EchoPark Segment 27 NM = Not MeaningfulNote: SG&A expenses as a percentage of gross profit metrics are calculated based on actual unrounded amounts. Q4 2025 Better / (Worse) % Change (In millions) Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Sequential Year-Over-Year Reported income (loss) before taxes 3.6$ 2.6$ 11.7$ 10.1$ (3.9)$ 39% 192% Impairment charges - - - 0.2 1.3 NM NM Segment income (loss) 3.6$ 2.6$ 11.7$ 10.3$ (2.6)$ 39% 238% Acquisition and disposition-related (gain) loss - 0.1 (0.8) (0.2) 0.8 NM NM Adjusted segment income (loss) 3.6$ 2.7$ 10.9$ 10.1$ (1.8)$ 34% 300% Reported gross profit 53.5$ 54.4$ 62.1$ 63.9$ 49.0$ (2%) 9% Reported SG&A expenses (42.2)$ (43.5)$ (42.2)$ (44.8)$ (42.6)$ 3% 1% Acquisition and disposition-related (gain) loss - 0.1 (0.8) (0.2) 0.8 NM NM Adjusted SG&A expenses (42.2)$ (43.4)$ (43.0)$ (45.0)$ (41.8)$ 3% (1%) Adjusted SG&A expenses as a percentage of gross profit 78.9% 79.8% 69.3% 70.4% 85.5% 90 bps 660 bps Income (loss) before taxes 3.6$ 2.6$ 11.7$ 10.1$ (3.9)$ 39% 192% Non-floor plan interest 0.3 0.4 0.4 0.5 0.6 NM NM Depreciation and amortization 4.9 5.1 5.1 5.2 5.4 NM NM Impairment charges - - - 0.2 1.3 NM NM Acquisition and disposition-related (gain) loss - 0.1 (0.8) (0.2) 0.8 NM NM Adjusted EBITDA 8.8$ 8.2$ 16.4$ 15.8$ 4.2$ 7% 110% Adjusted EBITDA - Closed Stores 0.4$ 0.1$ 0.4$ -$ (0.7)$ 300% 157% Adjusted EBITDA - EchoPark Operations (with Holding Company) 8.4 8.1 16.0 15.8 4.9 4% 71% Adjusted EBITDA - Total EchoPark Segment 8.8$ 8.2$ 16.4$ 15.8$ 4.2$ 7% 110%

 

NYSE SAH GAAP Income Statement – Annual Trend – Powersports Segment 28 NM = Not MeaningfulNote: Gross profit per unit metrics are calculated based on actual unrounded amounts. FY 2025 Better / (Worse) % Change (In millions, except unit and per unit data) FY 2025 FY 2024 FY 2023 FY 2022 Year-Over-Year Revenues: Retail new vehicles 105.5$ 82.0$ 88.6$ 31.8$ 29% Used vehicles 37.9 22.3 19.5 7.1 70% Wholesale vehicles 2.4 2.3 2.6 0.3 NM Total vehicles 145.8 106.6 110.7 39.2 37% Parts, service and collision repair 48.9 43.6 45.3 11.7 12% Finance, insurance and other, net ("F&I") 8.2 7.1 7.2 2.6 17% Total revenues 202.9 157.3 163.2 53.5 29% Gross profit: Retail new vehicles 15.7 11.5 16.6 6.3 36% Used vehicles 6.8 5.3 5.4 2.0 28% Wholesale vehicles (0.1) (0.3) (0.2) 0.1 NM Total vehicles 22.4 16.5 21.8 8.4 34% Parts, service and collision repair 23.2 20.1 21.3 5.8 16% Finance, insurance and other, net 8.2 7.1 7.2 2.6 17% Total gross profit 53.8 43.7 50.3 16.8 23% SG&A expenses (41.8) (35.9) (38.9) (12.3) (17%) Impairment charges (7.6) - - - NM Depreciation and amortization (5.3) (4.2) (3.4) (1.0) (22%) Operating income (loss) (0.9) 3.6 8.0 3.5 (125%) Interest expense, floor plan (1.6) (2.1) (0.6) - 23% Interest expense, other, net (2.8) (2.6) (1.7) (1.0) (8%) Other income (expense), net - - - 0.2 NM Income (loss) before taxes (5.3)$ (1.1)$ 5.7$ 2.7$ (403%) Unit sales volume: Retail new vehicles 5,143 4,244 4,842 1,592 21% Used vehicles 3,442 2,228 2,261 590 54% Wholesale vehicles 278 146 216 35 90% Gross profit per unit ("GPU"): Retail new vehicles 3,050$ 2,713$ 3,435$ 3,973$ 12% Used vehicles 1,980$ 2,397$ 2,394$ 3,349$ (17%) F&I 959$ 1,092$ 1,017$ 1,205$ (12%)

 

NYSE SAH Non-GAAP Reconciliation – Annual Trend – Powersports Segment 29 Note: SG&A expenses as a percentage of gross profit metrics are calculated based on actual unrounded amounts. (In millions) FY 2025 FY 2024 FY 2023 FY 2022 Reported income (loss) before taxes (5.3)$ (1.1)$ 5.7$ 2.7$ Impairment charges 7.6 - - - Segment income (loss) 2.3$ (1.1)$ 5.7$ 2.7$ Acquisition and disposition-related (gain) loss 1.1 - - - Long-term compensation charges - 0.5 - - Adjusted segment income (loss) 3.4$ (0.6)$ 5.7$ 2.7$ Reported SG&A expenses (41.8)$ (35.9)$ (38.9)$ (12.3)$ Acquisition and disposition-related (gain) loss 1.1 - - - Long-term compensation charges - 0.5 - - Adjusted SG&A expenses (40.7)$ (35.4)$ (38.9)$ (12.3)$ Adjusted SG&A expenses as a percentage of gross profit 75.8% 80.9% 77.2% 73.4% Income (loss) before taxes (5.3) (1.1) 5.7 2.7 Non-floor plan interest 2.8 2.6 1.7 1.0 Depreciation and amortization 5.3 4.3 3.4 0.9 Impairment charges 7.6 - - - Severance and long-term compensation charges - 0.5 - - Acquisition and disposition-related (gain) loss 1.1 - - - Adjusted EBITDA 11.5$ 6.3$ 10.8$ 4.6$

 

NYSE SAH GAAP Income Statement – Quarterly Trend – Powersports Segment 30 NM = Not MeaningfulNote: Gross profit per unit metrics are calculated based on actual unrounded amounts. Q4 2025 Better / (Worse) % Change (In millions, except unit and per unit data) Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Sequential Year-Over-Year Revenues: Retail new vehicles 20.4$ 38.8$ 26.9$ 19.4$ 17.5$ (47%) 17% Used vehicles 6.6 17.2 8.3 5.7 4.7 (62%) 40% Wholesale vehicles 0.4 1.0 0.3 0.8 0.1 NM NM Total vehicles 27.4 57.0 35.5 25.9 22.3 (52%) 23% Parts, service and collision repair 7.5 23.8 10.6 7.0 7.0 (68%) 7% Finance, insurance and other, net ("F&I") 1.5 3.3 2.0 1.5 1.3 (54%) 15% Total revenues 36.4 84.1 48.1 34.4 30.6 (57%) 19% Gross profit: Retail new vehicles 3.0 6.1 3.9 2.7 2.2 (51%) 36% Used vehicles 1.2 2.9 1.6 1.1 1.0 (58%) 20% Wholesale vehicles - (0.1) - (0.2) (0.1) NM NM Total vehicles 4.2 8.9 5.5 3.6 3.1 (53%) 35% Parts, service and collision repair 3.7 11.1 5.0 3.4 3.1 (67%) 19% Finance, insurance and other, net 1.5 3.3 2.0 1.5 1.3 (54%) 15% Total gross profit 9.4 23.3 12.5 8.5 7.5 (60%) 25% SG&A expenses (9.0) (13.0) (10.2) (9.6) (8.5) 31% (6%) Impairment charges - - (6.5) (1.1) - NM NM Depreciation and amortization (1.4) (1.3) (1.2) (1.2) (1.2) (6%) (17%) Operating income (loss) (1.0) 9.0 (5.4) (3.4) (2.2) (111%) 55% Interest expense, floor plan (0.3) (0.4) (0.4) (0.5) (0.5) 28% 40% Interest expense, other, net (0.7) (0.7) (0.7) (0.7) (0.7) 2% 0% Other income (expense), net - (0.1) - - - NM NM Income (loss) before taxes (2.0)$ 7.8$ (6.5)$ (4.6)$ (3.4)$ (126%) 43% Unit sales volume: Retail new vehicles 1,085 1,671 1,394 993 940 (35%) 15% Used vehicles 640 1,407 817 578 520 (55%) 23% Wholesale vehicles 76 84 58 60 16 NM NM Gross profit per unit ("GPU"): Retail new vehicles 2,742$ 3,655$ 2,828$ 2,681$ 2,338$ (25%) 17% Used vehicles 1,927$ 2,048$ 2,014$ 1,823$ 1,940$ (6%) (1%) F&I 874$ 1,066$ 889$ 943$ 868$ (18%) 1%

 

NYSE SAH Non-GAAP Reconciliation – Quarterly Trend – Powersports Segment 31 NM = Not MeaningfulNote: SG&A expenses as a percentage of gross profit metrics are calculated based on actual unrounded amounts. Q4 2025 Better / (Worse) % Change (In millions) Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Sequential Year-Over-Year Reported income (loss) before taxes (2.0)$ 7.8$ (6.5)$ (4.6)$ (3.4)$ (126%) 43% Impairment charges - - 6.5 1.1 - NM NM Segment income (loss) (2.0)$ 7.8$ -$ (3.5)$ (3.4)$ (126%) 43% Long-term compensation charges - - - - 0.5 NM NM Acquisition and disposition-related (gain) loss - 0.2 - 0.9 - NM NM Adjusted segment income (loss) (2.0)$ 8.0$ -$ (2.6)$ (2.9)$ (125%) 43% Reported gross profit 9.4$ 23.3$ 12.5$ 8.5$ 7.5$ (60%) 25% Reported SG&A expenses (9.0)$ (13.0)$ (10.2)$ (9.6)$ (8.5)$ 31% (6%) Long-term compensation charges - - - - 0.5 NM NM Acquisition and disposition-related (gain) loss - 0.2 - 0.9 - NM NM Adjusted SG&A expenses (9.0)$ (12.8)$ (10.2)$ (8.7)$ (8.0)$ 30% (12%) Adjusted SG&A expenses as a percentage of gross profit 96.2% 55.1% 81.1% 102.0% 106.6% (4,110) bps 1,040 bps Income (loss) before taxes (2.0)$ 7.8$ (6.5)$ (4.6)$ (3.4)$ (126%) 43% Non-floor plan interest 0.7 0.7 0.7 0.7 0.7 NM NM Depreciation and amortization 1.4 1.4 1.3 1.2 1.2 NM NM Impairment charges - - 6.5 1.1 - NM NM Long-term compensation charges - - - - 0.5 NM NM Acquisition and disposition-related (gain) loss - 0.2 - 0.9 - NM NM Adjusted EBITDA 0.1$ 10.1$ 2.0$ (0.7)$ (1.0)$ (99%) (110%)

 

NYSE SAH Non-GAAP Reconciliation – SG&A Expenses as % of Gross Profit Franchised Dealerships Segment 32 NM = Not MeaningfulNote: SG&A expenses as a percentage of gross profit metrics are calculated based on actual unrounded amounts. (In millions) FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 Q4 2024 Q4 2025 Reported: Compensation 719.6$ 858.0$ 856.6$ 892.4$ 956.9$ 233.9$ 249.4$ Advertising 26.1 36.9 40.5 55.1 69.9 11.9 18.5 Rent 46.6 42.4 40.3 39.2 44.3 9.6 12.6 Other 284.6 335.7 377.2 388.7 392.5 93.1 101.9 Total SG&A expenses 1,076.9$ 1,273.0$ 1,314.6$ 1,375.4$ 1,463.6$ 348.5$ 382.4$ Adjustments: Acquisition and disposition-related gain (loss) (1.2)$ 9.1$ 20.9$ 3.5$ (5.5)$ 3.5$ -$ Severance and long-term compensation charges - (4.4) - (2.2) - - - Storm damage charges - - (1.9) (8.3) (5.0) (3.2) - Excess compensation related to CDK outage - - - (11.0) - - - Cyber insurance proceeds - - - 10.0 40.0 10.0 - Legal settlements - - - - (0.7) - - Total SG&A adjustments (1.2) 4.7 19.0 (8.0) 28.8 10.3 - Adjusted: Adjusted SG&A expenses 1,075.7$ 1,277.7$ 1,333.6$ 1,367.4$ 1,492.4$ 358.8$ 382.4$ Reported: Compensation 40.8% 40.4% 42.1% 46.0% 45.7% 45.2% 46.5% Advertising 1.5% 1.7% 2.0% 2.8% 3.3% 2.3% 3.5% Rent 2.6% 2.0% 2.0% 2.0% 2.1% 1.9% 2.3% Other 16.1% 15.8% 18.5% 20.1% 18.8% 17.9% 19.1% Total SG&A expenses as % of gross profit 61.0% 59.9% 64.6% 70.9% 69.9% 67.3% 71.4% Adjustments: Acquisition and disposition-related gain (loss) (0.1%) 0.4% 1.1% 0.2% (0.3%) 0.7% 0.0% Severance and long-term compensation charges 0.0% (0.2%) 0.0% (0.1%) 0.0% 0.0% 0.0% Storm damage charges 0.0% 0.0% (0.1%) (0.5%) (0.2%) (0.6%) 0.0% Excess compensation related to CDK outage 0.0% 0.0% 0.0% (0.7%) 0.0% 0.0% 0.0% Cyber insurance proceeds 0.0% 0.0% 0.0% 0.6% 1.8% 1.9% 0.0% Legal settlements 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% Total effect of adjustments (0.1%) 0.2% 1.0% (0.5%) 1.3% 2.0% 0.0% Adjusted: Compensation 40.8% 40.2% 42.1% 45.2% 45.7% 45.2% 46.5% Advertising 1.5% 1.7% 2.0% 2.8% 3.3% 2.3% 3.5% Rent 2.6% 2.0% 2.0% 2.0% 2.1% 1.9% 2.3% Other 16.0% 16.2% 19.5% 20.4% 20.1% 19.9% 19.1% Total adjusted SG&A expenses as % of gross profit 60.9% 60.1% 65.6% 70.4% 71.2% 69.3% 71.4% Reported: Total gross profit 1,765.6$ 2,125.1$ 2,033.6$ 1,941.2$ 2,095.2$ 517.4$ 535.8$ Excess compensation related to CDK outage - - - 2.0 - - - Adjusted gross profit 1,765.6$ 2,125.1$ 2,033.6$ 1,943.2$ 2,095.2$ 517.4$ 535.8$

 

Investor Relations Contact: Danny Wieland, Vice President, Investor Relations & Financial Reporting Sonic Automotive Inc. (NYSE: SAH) Email: ir@sonicautomotive.com Investor Relations Website: ir.sonicautomotive.com

 

Source: View Original Filing on SEC EDGAR

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