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Sonic Corp. Message Board

  • atthebell atthebell Jul 2, 1998 10:00 PM Flag

    incompetent investor relations departmen

    to follow up on post #32, which fell on dumb
    ears;

    approximately two weeks before the last earnings were
    released,
    several financial services including Yahoo's research
    reflected
    earnings forcasts which were in error.

    for the
    quarter ending 5/98, one of the five forecast was way
    out
    of line at $.38......which resulted in a negative
    earnings release that never should have
    happened.......which resulted in
    a 'cold shower' for our
    stock.

    in addition, for the upcoming quarter ending 8/98,
    one of the five forecast was also way out of line at
    $.58........which resulted in moving next quaters expected earnings
    up to $.42.......which would kill our stock just
    like March 1997

    I contacted Sonic shareholder &
    financial personnel and they were unaware of these
    forecasts, which they agreed were in error, .......they also
    stated they never check the web for accuracy

    so,
    they will never see this.......maybe one of my fellow
    stockholders will call and express your concern
    also.......
    I certainly will at the next shareholders meeting,
    if I
    continue to care about Sonic that long

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • I'd be happy to make a few contacts to boost the
      stock, especially since a cent or two below prediction
      is the same as a stake through the heart these days.
      But the problem is two fold.

      One, who do you
      suggest that we contact?

      Two, would a revised
      earnings report at this point do more harm than good? Do
      you thing that the Web earnings forecast were
      responsible for substantial buying or could cause substantial
      selling once the erroneous poor performance is discovered
      and reported?

      Looks like a "catch 22" at this
      point. Fortunately, the institutions will (hopefully)
      realize this error and it will not dramatically affect
      the stock.

      Any thoughts?

      • 1 Reply to StkWiz99
      • you're right....at this point, it's too late,
        SONC down $3.00 since earnings release....this stock
        is dead until we near the 8/98 quarter

        I'm
        not blaming the web for earnings forecasts errors,
        it's only the messenger.....I hold Sonic management
        responsible for being less than diligent for not alerting
        Zacks and First Call
        to the errors.....so, I'd
        suggest contacting several financial officers of
        Sonic.....someone or some department is wasting a lot
        of good
        business operations

 
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