Advance Auto Parts tops 3Q profit expectations, meets revenue forecasts

ROANOKE, Va. (AP) — Advance Auto Parts Inc. (AAP) on Thursday reported earnings of $122.2 million in its third quarter.

The Roanoke, Virginia-based company said it had profit of $1.66 per share. Earnings, adjusted for non-recurring costs, were $1.89 per share.

The results exceeded Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.87 per share.

The auto parts retailer posted revenue of $2.29 billion in the period, which met Street forecasts.

Advance Auto Parts expects full-year earnings in the range of $7.50 to $7.60 per share.

Advance Auto Parts shares have increased 35 percent since the beginning of the year. The stock has increased 50 percent in the last 12 months.


This story was generated by Automated Insights using data from Zacks Investment Research. AAP stock research report from Zacks.


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