$SONC (Sonic Corp.)

$SONC {{ '2016-04-12T17:10:31+0000' | timeago}} • Announcement

Drive-in restaurant chain $SONC said some of its subsidiaries have priced $425MM of Series 2016-1 Class A-2 Fixed Rate Senior Secured Notes. They have also entered into a $150MM securitized revolving credit facility of Series 2016-1 Variable Funding Senior Secured Notes, Class A-1. $SONC expects both transactions to close on May 17, 2016.

$SONC {{ '2017-10-16T20:51:03+0000' | timeago}} • Announcement

For FY18, $SONC expects adjusted EPS to increase 5-10% YoY. The company expects approx. 0-2% system same-store sales growth in FY18. $SONC expects to open 70-80 new franchise drive-ins and to incur capital expenditures of $38-40MM during FY18.

$SONC {{ '2017-10-16T20:43:27+0000' | timeago}} • Announcement

$SONC reported a decrease in 4Q17 earnings. Net income totaled $20.8MM or $0.50 per share compared to $25.4MM or $0.53 per share in 4Q16. Adjusted EPS was $0.45 in 4Q17. Total revenues decreased to $123.5MM from $162.1MM last year. System same-store sales decreased 3.3%.

$SONC {{ '2017-10-04T20:10:28+0000' | timeago}} • Announcement

$SONC issued information regarding a recent payment card breach. The company said the credit and debt card numbers may have been acquired without authorization as part of a malware attack experienced at certain Sonic Drive-In locations.

$SONC {{ '2017-08-10T10:44:43+0000' | timeago}} • Announcement

$SONC BoD approved an incremental $160MM share repurchase authorization. The new authorization allows for the repurchase of up to $160MM of common stock through the end of FY18.

$SONC {{ '2017-08-10T10:43:01+0000' | timeago}} • Announcement

$SONC named Jose Duenas as EVP and Chief Brand Officer. Duenas will be responsible for the end-to-end customer experience of the SONIC brand for the long term. The company's BoD also approved the continuation of its quarterly cash dividend program. In 1Q18, $SONC expects to declare a quarterly dividend of $0.16 per share of common stock.

$SONC {{ '2017-07-06T20:19:33+0000' | timeago}} • Announcement

$SONC declared a quarterly cash dividend of $0.14 per share of common stock to be paid to shareholders as on August 9, 2017, with a payment date of August 18, 2017. Additionally, the company has a share repurchase authorization for up to $173MM of its common stock through August 31, 2017.

$SONC {{ '2017-06-22T22:26:18+0000' | timeago}} • Webcast

$SONC stated that regarding 2018 earnings guidance, the company believes it can return to a normalized EPS growth model. The company added that the model would be a little different as it is a higher franchise business now.

$SONC {{ '2017-06-22T21:48:20+0000' | timeago}} • Webcast

$SONC said it is refining its FY17 margin expectation to approx. 15.3% from the previous guidance of 15.5-16%, reflecting the lower same store sales assumption and the continued pressure on labor rates. $SONC added that it is on track to returning to its targeted cadence of low single digit same store sales growth.

$SONC {{ '2017-06-22T20:32:17+0000' | timeago}} • Infographic

$SONC Sonic Corp. Earnings AlphaGraphics: Q3 2017 highlights

$SONC {{ '2017-06-22T20:26:23+0000' | timeago}} • Announcement

While $SONC still sees FY17 adjusted EPS to decline 2-5% YoY, the drive-in fast-food restaurant chain now expects a 2.5% same-store sales decline for the system, 65 to 75 new franchise drive-in openings, capex of $46-48MM, free cash flow of $55-60MM and quarterly cash dividend of $0.14 per share in the year.

$SONC {{ '2017-06-22T20:22:07+0000' | timeago}} • Announcement

$SONC's 3Q17 net income per diluted share increased 42% to $0.44, even as system same-store sales declined 1.2%. Net income rose to $18.8MM from last year's $15.4MM, on total revenues of $124.0MM in the quarter.

$SONC {{ '2017-06-15T21:19:01+0000' | timeago}} • Announcement

$SONC appointed Lori Abou Habib as Chief Marketing Officer. In her new position, Habib would be responsible for leading brand strategy, product innovation, national marketing, brand management, media, digital strategy and marketing technology.

$SONC {{ '2017-06-13T12:44:56+0000' | timeago}} • Announcement

$SONC announced five new agreements for franchise development in greater Washington, D.C., New York City, the Ohio River Valley, Alabama, Virginia and Washington. A mainstay in the South and Central Plains, $SONC continues to expand in all areas of the country to meet ever-growing consumer demand.

$SONC {{ '2017-04-21T13:34:44+0000' | timeago}} • Announcement

$SONC's BoD declared a quarterly cash dividend of $0.14 per share of common stock. The dividend is payable on May 19, 2017 to shareholders of record on May 10, 2017. In addition to the dividend, the company has a share repurchase authorization for up to $173MM of its common stock through Aug. 31, 2017.

$SONC {{ '2017-03-28T21:59:32+0000' | timeago}} • Webcast

$SONC said the straight effective royalty rate would be messy because of the refranchising. It is a combination of three factors, primarily same-store sales performance, the number of new drive-ins opened and the license agreements for refranchising. $SONC anticipates the rate to be about flat to slightly down in 2H17.

$SONC {{ '2017-03-28T21:29:10+0000' | timeago}} • Infographic

$SONC Sonic Corp. Earnings AlphaGraphics: Q2 2017 highlights

$SONC {{ '2017-03-28T21:25:54+0000' | timeago}} • Webcast

In 2Q17, $SONC’s system same-store sales decreased 7.4%. The margins on company-owned drive-ins declined 330BP driven by the negative same-store sales and by the labor and technology investments made to-date. $SONC refranchised 54 additional drive-ins in 2Q17 which completed the initiative announced last year.

$SONC {{ '2017-03-28T20:43:10+0000' | timeago}} • Announcement

For FY17, $SONC expects same-store sales for the system to range from down 2% to 0%. The company expects 65-67 new franchise drive-in openings and drive-in-level margins of 15.5-16%. CapEx is expected to be about $40-45MM, reflecting ongoing investment into technology initiates.

$SONC {{ '2017-03-28T20:38:49+0000' | timeago}} • Announcement

Drive-in restaurant chain operator $SONC 2Q17 net income rose 2% to $11MM from $10.8MM in prior year quarter. Diluted EPS rose 14% YoY to $0.25 compared to $0.22 previous quarter, helped by refranchising gains. Revenue fell 28% during the quarter to $100.1MM

$SONC {{ '2017-02-09T19:43:11+0000' | timeago}} • Announcement

$SONC said Todd Smith, president and chief marketing officer, will resign effective March 9, 2017. Smith will serve in transition role till that date and then will pursue an opportunity outside of the quick-service restaurant industry. A search is underway to fill the position and those duties will be allocated among current members in the interim.

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