Auto accessories retail giant Advance Auto Parts, Inc. (AAP) is set to report third-quarter 2018 results before the opening bell on Nov 13, Tuesday. The Street estimates $1.75-a-share earnings on revenue of $2.23 billion.
The company has been beating earnings estimates for the past four quarters, and the consensus is that it would continue to do so this time as well.
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.