Categories AlphaGraphs, Earnings, Industrials

Advance Auto Parts (AAP) Q2 Earnings: Key financials and quarterly highlights

Advance Auto Parts, Inc. (NYSE:AAP) reported second quarter 2020 earnings results today.

Net sales increased 7.3% year-over-year to $2.5 billion, driven by a 7.5% increase in comparable store sales mainly attributable to the company’s DIY Omnichannel business.

GAAP net income was $190 million compared to $125 million last year. GAAP EPS increased 58.4% to $2.74 while adjusted EPS rose 46% to $2.92 versus the year-ago quarter.

Through the first five weeks of the third quarter, the company has seen strong growth in DIY Omnichannel and positive comparable store sales in Professional.

Advance Auto is not providing guidance for the full year of 2020 due to the ongoing uncertainty related to the COVID-19 pandemic.

Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!

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