Record-Breaking Revenue and Growth
Consolidated total revenues were an all-time quarterly record of $4 billion, up 14% year-over-year. All-time record quarterly consolidated gross profit grew 13% and consolidated adjusted EBITDA increased 11%.
Franchised Dealerships Segment Success
All-time record quarterly franchise revenues of $3.4 billion, up 17% year-over-year and up 11% on a same-store basis. This was driven by a 7% increase in same-store new retail volume and a 6% increase in same-store fixed operations revenues.
Powersports Segment Performance
Generated all-time record quarterly revenues of $84 million, up 42% year-over-year and all-time record quarterly gross profit of $23 million, up 32% year-over-year. Powersports segment adjusted EBITDA was an all-time quarterly record of $10.1 million, up 74% year-over-year.
Balance Sheet and Liquidity
Ended the quarter with $815 million in available liquidity, including $264 million in combined cash and floor plan deposits. Completed acquisition of Jaguar Land Rover, cementing Sonic Automotive as the largest Jaguar Land Rover retailer in the U.S.