The aftermarket auto parts supplier posted better-than-expected results in second-quarter, beating both top-line and bottom-line analysts’ estimates. On an adjusted basis, the company posted a 24.7% jump in earnings of $1.97 per share, while GAAP EPS soared 35.9% to $1.59. The stock jumped on the news then.
In the past three months, Advance Auto Parts stock has outperformed the industry, with it gaining 15.4% against the industry’s 5% rise. Shares have risen 8.13% in the period — that’s a 114.36% hike in the last year — when the S&P 500 has slipped 1.24%.
Last week, shares inched 0.27% higher, when most retail and wholesale auto shares slipped a bit. Advance Auto Parts have been consistently outperforming the market, and it is expected the results on Tuesday would be a testament to that.