Categories AlphaGraphs, Earnings, Industrials
AAP Earnings: Advance Auto Parts reports lower Q1 profit on flat sales
Automotive parts retailer Advance Auto Parts, Inc. (NYSE: AAP) on Wednesday reported a sharp decline in net profit for the first quarter of 2024, when sales remained broadly unchanged.
The company reported net income of $40.0 million or $0.67 per share for the first quarter, compared to $48.3 million or $0.81 per share in the year-ago quarter.
Net sales remained broadly unchanged at $3.41 billion during the three months. Comparable store sales for the first quarter decreased 0.2%
Shane O’Kelly, the company’s CEO, said, “While the industry experienced a slower start to 2024 compared with our expectations, the actions we began in the back half of last year will help us streamline our operations for the long term. Our leadership team and I continue to focus on improving the core fundamentals of our business while reducing costs, which is reflected in our year-over-year SG&A reduction.”
Prior Performance
Listen to the conference calls as they happen. Don't miss a beat! With AlphaStreet Intelligence, you can listen to live calls and interviews as they happen, so you never have to worry about missing out on important information.
Most Popular
Adobe (ADBE) Q2 adjusted earnings rise on higher revenues
Adobe Inc. (NASDAQ: ADBE) on Thursday reported an increase in revenue and adjusted profit for the second quarter of 2025, amid continued growth in its subscription-based business. The design software
ORCL Earnings: Highlights of Oracle’s Q4 2025 financial report
Technology giant Oracle Corporation (NYSE: ORCL) has reported higher revenues and adjusted earnings for the fourth quarter of 2025. Total revenues increased to $15.9 billion in the May quarter from
Key highlights from Chewy’s (CHWY) Q1 2025 earnings results
Chewy, Inc. (NYSE: CHWY) reported its first quarter 2025 earnings results today. Net sales of $3.12 billion increased 8.3% year-over-year. Net income decreased 6.7% to $62.4 million compared to last
