$SONC (Sonic Corp.)

$SONC {{ '2016-06-23T21:19:59+0000' | timeago}} • Webcast

Oklahoma-based company $SONC said system same-store sales increased 2% in 3Q16. Same-store sales were negatively impacted during the qtr. by an industry-wide slowdown in traffic in late April and May and to a lesser extent by unseasonably rainy and cool weather.

$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.

$SONC {{ '2017-01-24T20:00:45+0000' | timeago}} • Announcement

Chain of drive-in restaurants $SONC announced the appointment of Christina Bell Vaughan as President of Sonic Restaurants, Inc., the company's wholly owned subsidiary of drive-in restaurants. Vaughan, originally from Kansas City, will be based in $SONC's headquarters in Oklahoma City.

$SONC {{ '2017-01-19T22:01:46+0000' | timeago}} • Announcement

Restaurant chain operator $SONC elected Steven Davis to its Board of Directors. Davis is former CEO of $BOBE. The company also announced a new antibiotic use policy for chicken as part of its animal welfare program beginning effective immediately. $SONC is also reviewing its policies regarding antibiotics use for beef and pork.

$SONC {{ '2017-01-19T21:50:56+0000' | timeago}} • Announcement

$SONC BoD declared a quarterly cash dividend of $0.14 per share of common stock. The dividend is payable to shareholders of record as of the close of business on Feb. 8, 2017, with a payment date of Feb. 17, 2017.

$SONC {{ '2017-01-04T23:14:59+0000' | timeago}} • Webcast

$SONC said the proceeds from asset sales included about $11MM from proceeds related to the refranchising transactions and an additional $7MM related to the buyout of the portion of the minority interest.

$SONC {{ '2017-01-04T23:10:39+0000' | timeago}} • Webcast

$SONC stated that with the refranchising transactions complete and with improved same-store sales, the company anticipates drive-in level margins to improve throughout the year.

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