Key Developments For Sonic Corp
Sonic Corp (SONC.O) (Nasdaq)
Sonic Corp. Comments On FY 2010 EPS Guidance; Comments on FY 2010 Same Store Sale Guidance
Sonic Corp. announced that for fiscal 2010, it expects net income per diluted share (EPS) to increase in the range of 10% to 12% from fiscal 2009 reported earnings, excluding special gains and impairment charges and expects flat same-store sales at both partner and franchise drive-ins. According to Reuters Estimates, analysts were expecting the Company to report EPS of $0.80 for fiscal 2010.
Sonic Corp. Comments on Q2 2009 Same Store Sale Guidance
Sonic Corp. announced that for second quarter 2009, it expects system-wide same-store sales to decline 3% to 4%, with same-store sales at partner drive-ins (those drive-ins in which the Company owns a majority interest) to decline by 5.5% to 6.5%.
Sonic Corp. Comments On Q1 2009 Same Store Sales Guidance-DJ
Dow Jones reported that Sonic Corp. cut its expectation for first-quarter 2009 same-store sales and said sales at the drive-ins in which it owns a majority stake continued to lag behind those at its franchises, pressuring margins and hurting net income. The drive-in restaurant chain now expects system-wide same-store sales to fall by 2% to 3% for the quarter.
Sonic Corp. Comments On FY 2008, 2009 EPS Guidance; Comments On FY 2009 Same Store Sales Guidance
Sonic Corp. announced that for fiscal 2009 it expects earnings per diluted share to increase in the range of 12% to 14% versus fiscal 2008 earnings per diluted share. The Company expects positive same-store sales growth for the system, even though same-store sales growth for partner drive-ins is expected to be flat. The Company also expects slightly positive growth in earnings per share for fiscal 2008. According to Reuters Estimates, analysts are expecting the Company to report EPS of $0.99 for fiscal 2008 and $1.09 for fiscal 2009.
Sonic Corp. Lowers FY 2008 EPS Guidance; Comments On Q4 2008 Same Store Sale Guidance
Sonic Corp. announced that it expects fiscal 2008 earnings per diluted share will increase in the range of 4% to 6% versus fiscal 2007 earnings per diluted share of $0.96, which is adjusted for prior-year debt refinancing charges. For fourth quarter 2008 it expects same-store sales growth within the target range of 2% to 4%. According to Reuters Estimates, analysts were expecting the Company to report EPS of $1.05 for fiscal 2008. The Company also gave authorization of approximately $10.4 million remaining for fiscal year 2008.
