The company has not filed an annual or quarterly report since its FY2018 10-K, filed Oct 23, 2018. Its latest SEC filing is a 15-12G from Dec 17, 2018.
10-K for FY2018, filed Oct 23, 2018
The sections below describe the company as of the FY2018 annual report.
Operates and franchises drive-in restaurants serving made-to-order food and drinks to diners.
10-K for FY2018, filed Oct 23, 2018Sonic Corp., through its subsidiaries, operates and franchises the largest chain of drive-in restaurants (“Sonic Drive-Ins”) in the United…View ↗
The typical Sonic Drive-In consists of a kitchen housed in a one-story building, which is approximately 1,500 square feet, flanked by…View ↗
Sonic maintains a highly diverse menu. The menu strategy is to provide a broad range of items that appeal to target customer segments…View ↗
Diners pay for food and drinks when they buy them at company-run restaurants; franchisees pay fees when a restaurant opens or an agreement ends, and royalties based on sales as those sales occur.
10-K for FY2018, filed Oct 23, 2018Revenue from Company Drive-In sales is recognized when food and beverage products are sold. Company Drive-In sales are presented net of…View ↗
Franchise fees are recognized in income when the Company has substantially performed or satisfied all material services or conditions…View ↗
The Company’s franchisees pay royalties based on a percentage of sales. Royalties are recognized as revenue when they are earned.View ↗
$423.6M
10-K for FY2018, filed Oct 24, 2018
$423.6M ↗
Diners order at Sonic Drive-Ins; franchisees operate locations under franchise agreements and develop new locations through single- or multiple-unit agreements.
10-K for FY2018, filed Oct 23, 2018The typical Sonic Drive-In consists of a kitchen housed in a one-story building, which is approximately 1,500 square feet, flanked by…View ↗
General. As of August 31, 2018, we had 3,427 Franchise Drive-Ins in operation. A large number of successful multi-unit franchise groups…View ↗
Development Agreements. We use single- and multiple-unit development agreements for opening new drive-ins. During fiscal year 2018, almost…View ↗
Yes. It kept 17 cents of every revenue dollar as net income in FY2018 and turned 13 cents into free cash flow.
10-K for FY2018, filed Oct 24, 2018
10-K for FY2018, filed Oct 24, 2018
$106.4MView ↗
10-K for FY2018, filed Oct 24, 2018
$71.2MView ↗
10-K for FY2018, filed Oct 24, 2018
$54.9MView ↗
8-K, filed Dec 7, 2018
At the effective time of the Merger (the “Effective Time”) and in accordance with the terms of the Merger Agreement, each share of common…View ↗
8-K, filed Nov 7, 2018
On November 7, 2018, in connection with the anticipated closing of the transactions contemplated by the Agreement and Plan of Merger (the…View ↗
Shrank. Revenue fell 23% in 4 years, from $552.3M in FY2014 to $423.6M in FY2018, about 6% a year.
Refranchising
Sonic refranchised Company Drive-Ins, shifting the system toward franchise operation; the older report described a mix of franchise-run and company-run locations.
10-K for FY2015, filed Oct 23, 2015 10-K for FY2018, filed Oct 23, 2018The first Sonic Drive-In restaurant opened in 1953. As of the end of our fiscal year on August 31, 2015, the Sonic system included 3,526…View ↗
In June 2016, the Company announced plans to refranchise Company Drive-Ins as part of an initiative to move toward an approximately…View ↗
The Company completed the previously announced refranchising initiative during fiscal year 2017. During the first six months of fiscal year…View ↗
During fiscal year 2018, the Company recognized a net gain of $3.2 million related to the refranchised operations of 41 drive-ins and…View ↗
Payment options
The latest report adds electronic payment away from the stall to customer-facing technology, while the older report describes payment at the stall.
10-K for FY2015, filed Oct 23, 2015 10-K for FY2018, filed Oct 23, 2018Sonic Drive-Ins are equipped with information technology systems that are designed to provide operational tools for sales, labor and…View ↗
Sonic Drive-Ins are equipped with information technology systems including point-of-sale systems and operational tools for sales, labor and…View ↗
Loading...
