=Sonic (SONC) reported earnings on Mon 24 Oct 2016 (a/h)

Sonic (SONC) reported a fiscal fourth-quarter sales miss and downbeat fiscal 2017 guidance. Net income totaled $25.4 million, or 53 cents per share, compared with $26.3 million, or 50 cents per share, for the same period last year. Adjusted EPS was 45 cents, beating the 44 cents FactSet consensus. Revenue totaled $162.1 million, down from $175.3 million and below the $167 million FactSet consensus. Systemwide same-restaurant sales fell 2%. "Slowing consumer trends that began in April... persisted through the fourth quarter, resulting in lower-than-expected sales and profits in the fourth fiscal quarter," said Sonic Chief Executive Cliff Hudson in a statement. For fiscal 2017, Sonic expects adjusted earnings per share to be in the range of down 7% to flat year-over-year versus a FactSet estimate of a 12% increase. And same-store sales are expected to be down 2% to flat, systemwide.