Categories AlphaGraphs, Earnings, Other Industries

Advance Auto Parts earnings surge 24% in the second quarter

Aftermarket auto parts supplier Advance Auto Parts (AAP) delivered better-than-expected results in second-quarter of 2018, wherein both revenue and earnings topped analysts estimates. On an adjusted basis, the company reported EPS of $1.97, an increase of 24.7%. This was above analysts estimate of $1.86 a share.  On a GAAP basis, the company’s EPS increased 35.9% to $1.59.

The stock jumped 6% during premarket trading.

Total net sales during the quarter were $2.3 billion, a 2.8% increase versus the second quarter of the prior year. Analysts expected the company to post revenue of $2.26 billion. Comparable store sales for the second quarter of 2018 increased 2.8%.

Advance Auto Parts second quarter 2018 earnings

On August 8, 2018, the Roanoke, Virginia-based company’s Board declared a regular quarterly cash dividend of $0.06 per share to be paid on October 5, 2018 to all common shareholders of record as of September 21, 2018.

Advance Auto Part updated its guidance for full-year 2018 and now expects revenue of about $9.3 billion to $9.5 billion. The increased revenue outlook is reflective of the improving industry trends, coupled with top-line growth, and better operational execution.

RELATED: Advance Auto Parts shares fall after 1Q sales miss

As of July 14, 2018, the company opened 11 stores and branches and nearly 35 were closed or consolidated, resulting in a total of 5,159 stores and branches, compared to a total of 5,183 stores and branches as of December 30, 2017. To cater to the evolving need of customers, the company has been working towards expanding its footprint and widening its online presence.

Most Popular

V Earnings: Key quarterly highlights from Visa’s Q1 2023 financial results

Visa Inc. (NYSE: V) reported first quarter 2023 earnings results today. Net revenues grew 12% year-over-year to $7.9 billion. GAAP net income rose 6% to $4.2 billion while EPS grew

Earnings: Highlights of Intel’s (INTC) Q4 2022 financial results

Intel Corporation (NASDAQ: INTC) Thursday reported a decline in adjusted earnings and revenues for the fourth quarter. The semiconductor giant also provided guidance for the first quarter of 2023. Fourth-quarter

McCormick (MKC) expects to drive sales growth in 2023 through pricing actions and cost savings

Shares of McCormick & Company Inc. (NYSE: MKC) were down over 5% on Thursday after the company missed expectations on its fourth quarter 2022 results and provided a lower-than-expected earnings

Tags

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top