Automotive aftermarket parts maker Advance Auto Parts (AAP) posted results before the market opened on Tuesday, Nov. 13. Net sales inched 4.3% up to $2.3 billion, pushing diluted earnings 20% up to $1.56 per share.
Gross profit improved 6.2% to $1.0 billion, while comparable store sales grew 4.3% in the quarter. Adjusted earnings soared 32.2% to $1.89 per share.
CEO Tom Grewei said that the company delivered its “strongest comparable sales growth in nearly eight years.”
“In addition, through the disciplined execution of our financial priorities we increased our free cash flow by 140% and returned $120 million to our shareholders through share repurchases,” he added.
Advance Auto Parts updated its outlook, and now sees FY2018 net sales between $9.55 billion and $9.60 billion. Comparable store sales is touted to be 2-2.5%, while adjusted operating income margin is projected to be 7.6-7.8%.
On November 7, 2018, the AAP’s Board of Directors declared a regular quarterly cash dividend of $0.06 per share to be paid on January 4, 2019 to all common shareholders of record as of December 21, 2018.
Get access to timely and accurate verbatim transcripts that are published within hours of the event.
Most Popular
Boeing (BA) Q3 2024 Earnings: Key financials and quarterly highlights
The Boeing Company (NYSE: BA) reported its third quarter 2024 earnings results today. Revenues dipped 1% year-over-year to $17.8 billion. Net loss attributable to Boeing shareholders was $6.17 billion, or
KO Earnings: Coca-Cola Q3 adjusted profit rises and beats Street view
Soft drink giant The Coca-Cola Company (NYSE: KO) reported an increase in adjusted earnings for the third quarter of 2024. Earnings also exceeded analysts’ estimates. Earnings, adjusted for special items,
T Earnings: All you need to know about AT&T’s Q3 2024 earnings results
AT&T Inc. (NYSE: T) reported its third quarter 2024 earnings results today. Revenues totaled $30.2 billion versus $30.4 billion in the year-ago quarter. Net loss attributable to common stock was
