UPDATE 2-Sonic reports higher quarterly profit

Newswire

(Adds stock price, details) DETROIT, Oct 26 (Reuters) - Auto dealer group Sonic Automotive Inc. said on Tuesday its third-quarter earnings rose despite losses stemming from the recent hurricanes and a tough market for new and used vehicles. The company said it earned $19.3 million, or 46 cents per share, up from $17.5 million, or 41 cents a share, a year earlier. Results in the year-ago quarter were hurt by $9.3 million in costs related to a debt buyback and issuance of new bonds. ...

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