Recent

% | $
Quotes you view appear here for quick access.

Sonic Corp. Message Board

  • SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Sonic Doubles Earnings Per Share for Second Fiscal Quarter of 2015
      Same-Store Sales Increase 11.5%
      Business Wire Sonic Corp.
      March 24, 2015 4:01 PM
      
      OKLAHOMA CITY--(BUSINESS WIRE)--

      Sonic Corp. (SONC), the nation’s largest chain of drive-in restaurants, today announced results for the second fiscal quarter ended February 28, 2015.

      Key highlights of the company’s second quarter of fiscal year 2015 included:

      Net income per diluted share was $0.14 compared with net income per diluted share of $0.07 in the prior-year period; excluding items outlined below, net income per diluted share was $0.13 in the second fiscal quarter of 2015, resulting in an 86% increase, on an adjusted basis;
      System same-store sales increased 11.5%, consisting of an 11.5% same-store sales increase at franchise drive-ins and an increase of 11.2% at company drive-ins;
      Company drive-in margins improved by 110 basis points; and
      The company repurchased $75 million of stock through accelerated stock repurchase transactions representing approximately 4% of its outstanding stock.
      “Successful company initiatives combined with an improving macro environment resulted in an exceptionally strong second fiscal quarter with 11.5% same-store sales growth. We are particularly pleased that traffic drove two-thirds of our same-store sales increase,” said Cliff Hudson, Sonic Corp. CEO. “This increase is primarily a result of growth in our core menu items and product innovation, complemented by our national media strategy. As we move into the second half of fiscal 2015 we expect our business momentum to continue. In addition, we expect technology initiatives to provide an additional layer of growth to build sales and profits over the next several years.

      “We also executed accelerated share repurchase agreements during the second quarter to purchase $75 million of stock. Our fiscal year-to-date share repurchases now total $95 million.

      Sentiment: Hold

    • Sonic Reports Strong Second Fiscal Quarter Results
      Same-Store Sales Grow In Spite of Difficult Weather
      Business Wire Sonic Corp.
      March 24, 2014 4:05 PM
      OKLAHOMA CITY--(BUSINESS WIRE)--

      Sonic Corp. (SONC), the nation's largest chain of drive-in restaurants, today announced results for the second fiscal quarter ended February 28, 2014.

      Key highlights of the company's second fiscal quarter included:

      Net income per diluted share was $0.07 compared with reported net income per diluted share of $0.06 in the second fiscal quarter of 2013; excluding certain adjustments in the second fiscal quarter of 2013 as outlined below, net income per diluted share increased 40% in the second fiscal quarter of 2014;
      System-wide same-store sales increased 1.4%, consisting of an increase of 1.5% at franchise drive-ins and an increase of 1.3% at company drive-ins;
      Company drive-in margins improved 80 basis points; and
      The company repurchased approximately $51 million of stock representing almost 5% of its stock outstanding as of the beginning of the quarter.
      “We are very pleased with our second quarter results, especially in light of the difficult weather that impacted many of our markets. Our solid sales and financial performance resulted from multiple system-wide initiatives such as increased media efficiency, innovative products and layered day-part promotions. These initiatives complement our focus on service, products and pricing,” said Cliff Hudson, Chairman, Chief Executive Officer and President. “During the quarter we also began to roll out our technology initiatives, as well as signed new franchise development agreements for the development of 26 new drive-ins.

      “In addition to great operating results, we used existing cash and free cash flow1 to repurchase $51 million in shares at an average price of $19.14 per share, representing nearly 5% of our outstanding shares. Since our current repurchase program began in fiscal 2012, we have repurchased more than $125 million of stock.

      Sentiment: Hold

 
SONC
29.72+0.52(+1.78%)Jul 31 4:00 PMEDT