Categories AlphaGraphs, Earnings, Industrials

Infographic: A snapshot of Advance Auto Parts’ (AAP) Q1 2022 earnings

Advance Auto Parts, Inc. (NYSE: AAP) has reported financial results for the first quarter of fiscal 2022. Adjusted earnings increased 7% year-over-year amid modest revenue growth.

Advance Auto Parts Q1 2022 earnings infographic

Net income, excluding one-off items, increased 7% annually to $3.57 per share during the three-month period. Meanwhile, first-quarter unadjusted net income decreased to $139.8 million or $2.26 per share from $185.9 million or $2.81 per share in the same period of 2021.

At $3.37 billion, first-quarter revenues were up 1% from the corresponding period of the prior year. The top-line, however, slightly missed consensus estimates.

Read management/analysts’ comments on quarterly reports

“We started 2022 with strong mid-single-digit comp growth through the first ten weeks of our 16-week quarter. During the final six weeks, we experienced comp declines driven by our DIY omnichannel business. This was primarily a result of headwinds from the expected lap of the DIY sales boost from the 2021 stimulus as well as a slower start to the spring selling season due to cooler temperatures and higher precipitation,” said Tom Greco, chief executive officer of Advance Auto Parts.

Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!

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