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Advance Auto Parts' (AAP) Q2 Earnings Miss, Fall Y/Y
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Advance Auto Parts Inc. (AAP - Free Report) is the largest automotive parts provider in North America, serving the “do-it-yourself” or “DIY”, and “do-it-for me” or “DIFM” customers. It operates in the U.S. automotive aftermarket industry and is primarily engaged in selling replacement parts (excluding tires), accessories, batteries and maintenance items for domestic and imported cars, vans, sport utility vehicles, light and heavy duty trucks.
Advance Auto Parts enhances profits through its relentless focus on store expansion. The company is poised to benefit as the auto industry continues to show stability with the increasing average age of vehicles, along with a rise in the number of miles driven. However, Advance Auto Parts faces challenges from rising new vehicle sales and price competition.
As a result, investors have been eagerly awaiting Advance Auto Parts’ latest earnings report. Let’s take a quick look at the company’s second-quarter release.
Estimate Trend & Surprise History
Investors should note that the earnings estimate for Advance Auto Parts for the second quarter of 2016 has decreased by a penny to $2.13 over the past seven days.
The company has delivered mixed earnings surprises. It has beaten the Zacks Consensus Estimate in 2 of the trailing 4 quarters with an average miss of around 1.86%.
Zacks Rank
Advance Auto Parts currently has a Zacks Rank #4 (Sell), but that could change following its earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings
Advance Auto Parts reported earnings of $1.90 per share, which missed the Zacks Consensus Estimate of $2.13. Earnings also decreased 16.3% from $2.27 recorded in the year-ago quarter.
Advance Auto Parts logged revenues of $2.26 billion, surpassing the Zacks Consensus Estimate of $2.24 billion. Revenues decreased year over year from $2.37 billion posted a year-ago quarter.
Key Stats/Developments to Note
Advance Auto Parts enhances profits through its relentless focus on store expansion. As of Jul 16, 2016, the company’s total store count was 5,192, including 126 Worldpac branches. Advance Auto Parts served roughly 696 independently owned Carquest stores as of that date.
Market Reaction
Advance Auto Parts’ shares were inactive following the release. It would be interesting to see how the market reacts to the results during the trading session today.
Check back later for our full write up on Advance Auto Parts’ earnings report!
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Advance Auto Parts' (AAP) Q2 Earnings Miss, Fall Y/Y
Advance Auto Parts Inc. (AAP - Free Report) is the largest automotive parts provider in North America, serving the “do-it-yourself” or “DIY”, and “do-it-for me” or “DIFM” customers. It operates in the U.S. automotive aftermarket industry and is primarily engaged in selling replacement parts (excluding tires), accessories, batteries and maintenance items for domestic and imported cars, vans, sport utility vehicles, light and heavy duty trucks.
Advance Auto Parts enhances profits through its relentless focus on store expansion. The company is poised to benefit as the auto industry continues to show stability with the increasing average age of vehicles, along with a rise in the number of miles driven. However, Advance Auto Parts faces challenges from rising new vehicle sales and price competition.
As a result, investors have been eagerly awaiting Advance Auto Parts’ latest earnings report. Let’s take a quick look at the company’s second-quarter release.
Estimate Trend & Surprise History
Investors should note that the earnings estimate for Advance Auto Parts for the second quarter of 2016 has decreased by a penny to $2.13 over the past seven days.
The company has delivered mixed earnings surprises. It has beaten the Zacks Consensus Estimate in 2 of the trailing 4 quarters with an average miss of around 1.86%.
Zacks Rank
Advance Auto Parts currently has a Zacks Rank #4 (Sell), but that could change following its earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings
Advance Auto Parts reported earnings of $1.90 per share, which missed the Zacks Consensus Estimate of $2.13. Earnings also decreased 16.3% from $2.27 recorded in the year-ago quarter.
ADVANCE AUTO PT Price and EPS Surprise
ADVANCE AUTO PT Price and EPS Surprise | ADVANCE AUTO PT Quote
Revenues
Advance Auto Parts logged revenues of $2.26 billion, surpassing the Zacks Consensus Estimate of $2.24 billion. Revenues decreased year over year from $2.37 billion posted a year-ago quarter.
Key Stats/Developments to Note
Advance Auto Parts enhances profits through its relentless focus on store expansion. As of Jul 16, 2016, the company’s total store count was 5,192, including 126 Worldpac branches. Advance Auto Parts served roughly 696 independently owned Carquest stores as of that date.
Market Reaction
Advance Auto Parts’ shares were inactive following the release. It would be interesting to see how the market reacts to the results during the trading session today.
Check back later for our full write up on Advance Auto Parts’ earnings report!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report >>