Sonic Automotive, Inc. SAH registered third-quarter 2020 adjusted earnings per share of $1.29 per share, which beat the Zacks Consensus Estimate of $1.14. Higher-than-expected sales from new and used vehicle units led to the outperformance. Precisely, used and vehicle sales came in at around $946 million and $1098.3 million, which surpassed the consensus mark of $933 million and $1,082 million, respectively. Moreover, the bottom line was higher than 66 cents per share reported in the year-ago quarter.However, total revenues amounted to $2,548.5 million, down 5.6% from the prior-year quarter’s figure. Further, revenues missed the Zacks Consensus Estimate of $2,601 million.Sonic Automotive, Inc. Price, Consensus and EPS Surprise Sonic Automotive, Inc. price-consensus-eps-surprise-chart | Sonic Automotive, Inc. QuoteKey TakeawaysIn the reported quarter, revenues from the sale of new vehicles fell 12.7% year over year to $1,098.3 million. Unit sales volume contracted 14.6% year on year to 23,875. Gross profit per unit surged 38.4% to $2,607.Revenues from the sale of used vehicles increased 3.5% from the prior-year quarter’s level to $946 million. Unit sales contracted from 27,490in the prior-year quarter to 26,216 in the quarter under review. Gross profit per unit increased 3.9% year over year to $1,307.For the quarter under review, the EchoPark segment recorded revenues of $385.3 million, reflecting a23.3% uptick from the year-ago figure. Its stores sold 15,127 units, up 14.5% on a year-over-year basis. Amid low gross profits and high SG&A expenses, the segment registered an income of $239,000, down 92.6% from the year ago-quarter’s levels.Wholesale vehicle revenues rose 9.6% on a year-over-year basis to $56.5 million. Revenues from parts, services and collision repair fell 8.8% year over year to $320.9 million. Finance, insurance and other revenues came in at $126.8 million, almost flat with the year-ago levels.Selling, general and administrative expenses fell to $257.1 million from $296.8 million in the year-ago quarter.The board of directors announced a quarterly dividend of 10 cents per share, which will be paid out on Jan 15, 2021 to shareholders of record on Dec 15, 2020. As of Sep 30, Sonic — whose peers include Lithia Motors LAD, AutoNation AN and Group 1 Automotive GPI — had $125.7 million of cash and cash equivalents on hand. Long-term debt summed $669.7 million. Sonic currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Have You Seen Zacks’ 2020 Election Stock Report?The upcoming election could be a massive buying opportunity for savvy investors. Trillions of dollars will shift into new market sectors after the election. The question is, which sectors will soar for each candidate? Zacks has put together a new special report to help readers like you target big profits.The 2020 Election Stock Report reveals specific stocks you’ll want to own immediately after the results are announced – 6 if Trump wins, 6 if Biden wins. Past election reports have led investors to gains of +71%, +83%, even +185% in the following months. This year’s picks could be even more lucrative.Check out Zacks’ 2020 Election Stock Report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AutoNation, Inc. (AN): Free Stock Analysis Report Sonic Automotive, Inc. (SAH): Free Stock Analysis Report Lithia Motors, Inc. (LAD): Free Stock Analysis Report Group 1 Automotive, Inc. (GPI): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research