Sonic Automotive, Inc. · NYSE:SAH
Sonic Automotive — Q2 2010 Earnings Presentation
17 slides from Sonic Automotive's earnings presentation, Jul 29, 2010
Slide 1: Q2 Earnings Review
1 Q2 Earnings Review July 29, 2010 Exhibit 99.2
Slide 2: Cautionary Notice: Forward-Looking Statements
2 Cautionary Notice: 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 assumpt
Slide 3: Sonic Automotive Q2 2010 Quarter in Review
3 Sonic Automotive Q2 2010 Quarter in Review Financial Review Operations Review Closing Comments
Slide 4: Overall Results - Q2 2010
4 Overall Results - Q2 2010 Continuing operations adjusted profit up 41%* Total revenue up 16% New retail volume up 15% with new retail vehicle revenue up 19% Introducing new vehicle Playbook in Q3 Used retail vehicle unit volume up 20% on top of prior year 12% increase Fixed operations revenue up 5
Slide 5: Quarterly Results (Adjusted)
Quarterly Results (Adjusted*) *See appendix for reconciliation to GAAP amounts 5
Slide 6: Adjusted EBITDA - All Operations
6 Adjusted EBITDA - All Operations (CHART) (CHART) (amounts in millions)
Slide 7: SG&A - Q2 2010 (Adjusted)
7 SG&A - Q2 2010 (Adjusted*) *See appendix for reconciliation to GAAP amounts
Slide 8: Liquidity
8 Liquidity (1)Excludes other non-public debt principal of $140.8 million and $139.1 million at December 31, 2009 and June 30, 2010, respectively. Retired $12 million of senior subordinated notes and $1 million of convertible notes in Q2. Will redeem an additional $20 million of senior subordinated
Slide 9: Debt Covenants
9 Debt Covenants Compliant with all Covenants
Slide 10: Capital Spending
Capital Spending (amounts in millions) Facility Improvement Mortgage Funding Net Cash Used - Facility Related Maintenance Cap Ex Total Cash Used - Cap Ex 2010 YTD $ 13.2 1.4 $ 11.8 7.2 $ 1
Slide 11: New Retail Vehicles - Q2 2010 Continuing Operations
11 New Retail Vehicles - Q2 2010 Continuing Operations Revenue (amounts in millions) Revenue $ 19.3% Gross Per Unit Gross Profit $ 20.1%
Slide 12: Used Retail Vehicles - YOY Change
12 Used Retail Vehicles - YOY Change 1:1 Used to New Retail Ratio Biggest Revenue, Gross and Volume QTR ever! 30% 19% 8% (3%) (14%)
Slide 13: Fixed Operations - Q2 2010 Continuing Operations
13 Fixed Operations - Q2 2010 Continuing Operations Revenue (amounts in millions) Revenue 4.8% Gross (amounts in millions) Gross 3.3%
Slide 14: Summary
14 Still planning for an 11 million SAAR Expect 2H to be fairly evenly split between Q3 and Q4 New vehicle Playbook rollout just beginning Used retail vehicle volume and gross continue to grow at double- digit pace Fixed operations continue to mature with better execution of the Playbook F&I is stre
Slide 15: Appendix
APPENDIX
Slide 16: Reconciliation of Non-GAAP Financial Information
16 Reconciliation of Non-GAAP Financial Information
Slide 17: Reconciliation of Non-GAAP Financial Information
17 Reconciliation of Non-GAAP Financial Information