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 metrics from Shopify’s (SHOP) Q1 2024 earnings results
Shopify Inc. (NYSE: SHOP) reported first quarter 2024 earnings results today. Revenue increased 23% to $1.9 billion compared to the prior-year period. Gross Merchandise Volume (GMV) increased 23% year-over-year to
EA Earnings: Electronic Arts reports lower revenues for Q4 2024
Video game publisher Electronic Arts (NASDAQ: EA) Tuesday reported a decline in revenues for the fourth quarter of 2024. Meanwhile, the top line came in slightly above analysts' estimates. Fourth-quarter
What to look for when Home Depot (HD) reports Q1 2024 earnings
Shares of The Home Depot (NYSE: HD) stayed red on Tuesday. The stock has gained 17% over the past 12 months. The home improvement retailer is scheduled to report its
Comments