Categories AlphaGraphs, Earnings, Industrials

Infographic: Key highlights from Advance Auto Parts’ (AAP) Q1 2023 earnings results

Advance Auto Parts, Inc. (NYSE: AAP) reported first quarter 2023 earnings results today.

Net sales totaled $3.4 billion, up 1.3% year-over-year, driven mainly by new store openings. Comparable store sales fell 0.4%.  

Net income was $42.6 million, or $0.72 per share, compared to $139.7 million, or $2.26 per share, last year.

Both revenue and earnings missed expectations.

AAP lowered its guidance for the full year of 2023. Net sales are now expected to be $11.2-11.3 billion. Comparable store sales are expected to range from down 1% to flat and EPS is expected to be $6.00-6.50.

The company declared a cash dividend of $0.25 per share, payable on July 28, 2023 to all common stockholders of record as of July 14, 2023. This reflects a reduction of 83% from the previous dividend of $1.50.

The stock crashed over 28% in premarket hours on Wednesday.

Prior performance

Most Popular

Key highlights from McCormick & Company’s (MKC) Q3 2023 earnings results

McCormick & Company, Incorporated (NYSE: MKC) reported third quarter 2023 earnings results today. Net sales increased 6% year-over-year to $1.68 billion, but narrowly missed estimates of $1.70 billion.   Net income

Carnival Corporation (CCL): A couple of factors that work in favour of this cruise ship operator

Shares of Carnival Corporation & plc (NYSE: CCL) were down on Monday. The stock has gained 69% year-to-date. The company delivered strong results for the third quarter of 2023 and although

Earnings Preview: PepsiCo (PEP) likely to deliver another strong quarter

Over the years, brand loyalty and diversification of the portfolio have played a key role in the continued success of PepsiCo, Inc. (NASDAQ: PEP) The soft drink giant is now

Add Comment
Viewing Highlight