Sonic Automotive Inc.'s third-quarter net income dropped on lower revenue and new-vehicle sales, though the company saw volume and revenue gains in its standalone EchoPark used-vehicle sales operation.

Net income dipped 22 percent to $15.1 million, while revenue for the nation's fifth-largest automotive retailer dipped 1.4 percent to $2.47 billion.

When adjusted for unusual items, Sonic's net income from continuing operations rose 5.2 percent to $18.3 million from a year ago. Adjustments in the third quarter this year included charges for storm damage, executive transition and disposing of franchises. In the year-ago period, Sonic had adjustments for gains on disposing one franchise and charges for asset impairments, storm damage and legal issues.

"On the franchise side of the business, revenues declined 1.7 percent on a same-store basis primarily due to the strong third quarter comparison in 2017 containing the rebound effects of Hurricane Harvey," Sonic CEO David Smith said in a statement Thursday. "Despite this headwind, the franchised dealerships increased total gross profit by 1.1 percent during the quarter with strong performances in used vehicles and fixed operations."

Shares of Sonic were trading up about 5.6 percent Thursday afternoon to $18.82 a share.

Sonic continues to see growth from the EchoPark standalone used-vehicle stores. EchoPark sales more than tripled to 7,698 during the July-September period, while EchoPark revenue more than tripled to $185.9 million. Sonic opened a new EchoPark store in Charlotte, N.C., earlier this month and plans to open a store in Houston by the end of the year.

Records: Used-vehicle unit sales of 34,952, finance and insurance gross profit per unit of $1,505 and finance and insurance gross of $98.1 million set third-quarter records.

Sales: New-vehicle sales fell 13 percent to 31,009. Used-vehicle sales jumped 13 percent to 34,952.

Same-store sales: New-vehicle sales on a same-store basis fell 6.5 percent to 31,010. That compares with a 2.5 percent dip in U.S. industry sales during the third quarter. Used-vehicle sales on a same-store basis rose 7.8 percent to 30,527.

Sonic, of Charlotte, N.C., ranks No. 5 on Automotive News' list of the top 150 dealership groups based in the U.S., retailing 133,728 new vehicles in 2017. It retailed 123,489 used vehicles for the same period, ranking it No. 6 on Automotive News' list of the top 100 dealership groups in used-vehicle sales.