Sonic Automotive sees FY18 EPS $2.21-$2.45, consensus $2.15
The company noted, "We anticipate new vehicle industry volume to be between 16.75M-17.0M units. We project diluted EPS from continuing operations for 2018 $2.21-$2.45 per share. This range includes the effect of projected results and expansion of our Pre-Owned Stores Segment, which includes EchoPark. We are projecting a loss related to our Pre-Owned Stores Segment for 2018 of between 8c-12c per diluted share. Prior to the change in the federal income tax rate, we expected our annual effective income tax rate to range between 38% and 40% each year. Going forward, and included in our 2018 estimate, we expect our annual effective income tax rate to range between 26% and 28% each year."