Categories Analysis, Industrials

Earnings Preview: Can Advance Auto Parts surprise in Q3 as well?

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.

Advance Auto Parts second quarter 2018 earnings

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.

 

 

Get access to timely and accurate verbatim transcripts that are published within hours of the event

Most Popular

V Earnings: Key quarterly highlights from Visa’s Q1 2023 financial results

Visa Inc. (NYSE: V) reported first quarter 2023 earnings results today. Net revenues grew 12% year-over-year to $7.9 billion. GAAP net income rose 6% to $4.2 billion while EPS grew

Earnings: Highlights of Intel’s (INTC) Q4 2022 financial results

Intel Corporation (NASDAQ: INTC) Thursday reported a decline in adjusted earnings and revenues for the fourth quarter. The semiconductor giant also provided guidance for the first quarter of 2023. Fourth-quarter

McCormick (MKC) expects to drive sales growth in 2023 through pricing actions and cost savings

Shares of McCormick & Company Inc. (NYSE: MKC) were down over 5% on Thursday after the company missed expectations on its fourth quarter 2022 results and provided a lower-than-expected earnings

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top