Advance Auto Parts (NYSE: AAP) reported first-quarter adjusted earnings of $2.46 per share, up 17% year-over-year, surpassing the Wall Street consensus of $2.36 per share. Net sales for the quarter improved 2.7% to $2.95 billion, slightly higher than $2.94 billion projected by analysts.
The top line was spurred by a 2.7% growth in comparable sales.
AAP shares ended its last trading session 1.68% in green on Tuesday. In the past 12 months, the stock has gained almost 40%.
Adjusted profit margin saw a 37 basis points improvement, primarily driven by favorable product margin and improved inventory management.
CEO Tom Greco said, “Our free cash flow improved by nearly 20% as a result of our continued disciplined approach to cash management. The early progress against our strategic transformation agenda is becoming more evident throughout our culture and in our improving results.”
READ: HEWLETT PACKARD ENTERPRISE EXPECTED TO POST Q2 EPS OF $0.36
The company also reaffirmed its outlook for full-year 2019. The North Carolina-based company expects net sales between $9.65 billion and $9.8 billion, with comp sales increase projected in the range of 1% to 2.5%.
Rival AutoZone (NYSE: AZO) yesterday reported better-than-expected earnings and sales for the third quarter of 2019, aided by strong comparable store sales. The company’s stock gained nearly 3% following the announcement.
Most Popular
Key highlights from Deere & Co.’s (DE) Q4 2024 earnings results
Deere & Company (NYSE: DE) reported its fourth quarter 2024 earnings results today. Worldwide net sales and revenues decreased 28% year-over-year to $11.14 billion. Net income was $1.24 billion, or
NVDA Earnings: Nvidia Q3 profit jumps, beats estimates
NVIDIA Corporation (NASDAQ: NVDA) on Wednesday reported a sharp increase in adjusted profit and revenue for the third quarter of 2025. Earnings also topped analysts' estimates. The tech firm’s revenues
Lowe’s Companies (LOW): A few points to note about the Q3 2024 performance
Shares of Lowe’s Companies, Inc. (NYSE: LOW) rose over 1% on Wednesday. The stock has gained 8% over the past three months. The company delivered better-than-expected earnings results for the
Comments