Advance Auto Parts' stock sinks toward 13-month low after earnings and sales miss, trimmed outlook [MarketWatch]
Advance Auto Parts Inc. (AAP)
Last advance auto parts inc. earnings: 2/18 06:30 am
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Source: MarketWatch
Advance Auto Parts' stock sinks toward 13-month low after earnings and sales miss, trimmed outlook Shares of Advance Auto Parts Inc. AAP, -1.50% slumped 4.3% toward a 13-month low in premarket trading Tuesday, after the auto parts retailer reported second-quarter earnings and sales that missed expectations and trimmed its full-year outlook, while announcing a new $400 million stock repurchase program. Net income for the quarter to July 13 rose to $124.8 million, or $1.73 a share, from $117.8 million, or $1.59 a share, in the year-ago period. Excluding non-recurring items, adjusted EPS rose 1.5% to $2.00, but missed the FactSet consensus of $2.22. Sales increased 0.2% to $2.33 billion, below the FactSet consensus of $2.36 billion. Same-store sales were "flat," missing the FactSet consensus for a 1.5% increase. For 2019, the company lowered its sales guidance range to $9.65 billion to $9.75 billion from $9.65 billion to $9.80 billion, and trimmed its same-store sales growth outlook to
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News
- Baum Family Investments Embarks on Triple Net Lease Strategy with $250 Million Acquisition GoalPR Newswire
- Advance Auto Parts, Inc. (NYSE: AAP) had its price target lowered by analysts at Evercore ISI from $82.00 to $78.00. They now have an "in-line" rating on the stock.MarketBeat
- Third Point, Saddle Point win board seats at Advance Auto Parts. A plan to improve margins may unfold [CNBC]CNBC
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- Automotive Aftermarket Private Label Programs in North America, Europe and Asia 2024-2030: Suppliers and Distributors Likely to Transition to New Business Models with a Digital-first Strategy [Yahoo! Finance]Yahoo! Finance
AAP
Earnings
- 2/28/24 - Miss
AAP
Sec Filings
- 4/8/24 - Form DEF
- 4/8/24 - Form DEFA14A
- 4/8/24 - Form ARS
- AAP's page on the SEC website