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.
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!
Most Popular
Richtech’s mission is to transform the service industry through collaborative robotic solutions: President
Richtech Robotics Inc. (NASDAQ: RR) is a leading provider of robotic solutions, developing, manufacturing, and deploying novel products needed for automation in the service industry. The company's solutions include delivery,
What to expect when Darden Restaurants reports Q1 results
Darden Restaurants, Inc. (NYSE: DRI) is scheduled to release its first-quarter report on September 19, with analysts forecasting a year-over-year increase in sales and profit. The market will be keeping a
Oracle (ORCL) sees continued strong revenue growth in FY25
Oracle Corporation (NYSE: ORCL) started the new fiscal year on a high note with stronger-than-expected first-quarter results, driving the stock higher soon after the announcement. The tech giant’s earnings and
