Advance Auto Parts Inc. (AAP) on Thursday reported second-quarter profit of $150 million.
On a per-share basis, the Roanoke, Virginia-based company said it had net income of $2.03. Earnings, adjusted for amortization costs, came to $2.27 per share.
Continue Reading Below
The results beat Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $2.25 per share.
The auto parts retailer posted revenue of $2.37 billion in the period, which fell short of Street forecasts. Nine analysts surveyed by Zacks expected $2.38 billion.
Advance Auto Parts expects full-year earnings in the range of $8.10 to $8.30 per share.
Advance Auto Parts shares have increased 8 percent since the beginning of the year. The stock has increased 38 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AAP at http://www.zacks.com/ap/AAP
Keywords: Advance Auto Parts, Earnings Report