Advance Auto Parts, Inc. (NYSE: AAP) on Monday reported financial results for the fourth quarter of fiscal 2021. Adjusted earnings increased in double digits amid modest revenue growth.
Net income, excluding one-off items, jumped 35% annually to $2.07 per share during the three-month period. Meanwhile, fourth-quarter unadjusted net income decreased to $81.7 million or $1.30 per share from $112 million or $1.66 per share in the same period of 2020.
At $2.39 billion, revenues were up 1% from the corresponding period of the prior year. The top-line performance surpassed the consensus estimates.