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Advance Auto Parts (AAP) Miss on Q1 Earnings & Revenues
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Advance Auto Parts Inc. (AAP - Free Report) 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. It is the largest automotive parts provider in North America, serving the “do-it-yourself” or “DIY”, and “do-it-for me” or “DIFM” (or Commercial) customers. Advance Auto Parts operates through a single reportable segment comprising stores and distribution branch operations.
Advance Auto Parts continues to face declining cash flows which could impact capital expenditure. Moreover, production of better quality vehicles can affect demand of the company’s products. The fact that consumers are opting for new vehicle purchases instead of maintaining old ones, can adversely affect the demand for company’s products.
Investors have been eagerly waiting for Advance Auto Parts' latest earnings report. Let’s take a quick look at this U.S.-based automotive aftermarket company’s first-quarter release.
Estimate Trend & Surprise History
Investors should note that the earnings estimate for Advance Auto Partsfor the first quarter have decreased in the past 60 days.
The company delivered negative earnings surprise in the last four trailing quarters with an average miss of around 5.58%.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings
Advance Auto Parts raked in adjusted earnings of $1.60 per share that missed the Zacks Consensus Estimate of $2.12. Adjusted earnings were lower than $2.51 recorded in the year-ago quarter.
Revenues
Advance Auto Parts logged revenues of $2.89 billion, lagging behind the Zacks Consensus Estimate of $2.93 billion. Revenues were lower than the $2.98 billion recorded in the year-ago quarter.
Key Stats/Developments to Note
As of first quarter, Advance Auto Parts operated 5,059 stores and 130 Worldpac branches and served approximately 1,250 independently owned Carquest stores.
Market Reaction
Advance Auto Parts shares were inactive in the pre-trading session. 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 Partsearning report!
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Advance Auto Parts (AAP) Miss on Q1 Earnings & Revenues
Advance Auto Parts Inc. (AAP - Free Report) 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. It is the largest automotive parts provider in North America, serving the “do-it-yourself” or “DIY”, and “do-it-for me” or “DIFM” (or Commercial) customers. Advance Auto Parts operates through a single reportable segment comprising stores and distribution branch operations.
Advance Auto Parts continues to face declining cash flows which could impact capital expenditure. Moreover, production of better quality vehicles can affect demand of the company’s products. The fact that consumers are opting for new vehicle purchases instead of maintaining old ones, can adversely affect the demand for company’s products.
Investors have been eagerly waiting for Advance Auto Parts' latest earnings report. Let’s take a quick look at this U.S.-based automotive aftermarket company’s first-quarter release.
Estimate Trend & Surprise History
Investors should note that the earnings estimate for Advance Auto Partsfor the first quarter have decreased in the past 60 days.
The company delivered negative earnings surprise in the last four trailing quarters with an average miss of around 5.58%.
Advance Auto Parts Inc Price and EPS Surprise
Advance Auto Parts Inc Price and EPS Surprise | Advance Auto Parts Inc Quote
Zacks Rank
Advance Auto Parts currently has a Zacks Rank #4 (Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings
Advance Auto Parts raked in adjusted earnings of $1.60 per share that missed the Zacks Consensus Estimate of $2.12. Adjusted earnings were lower than $2.51 recorded in the year-ago quarter.
Revenues
Advance Auto Parts logged revenues of $2.89 billion, lagging behind the Zacks Consensus Estimate of $2.93 billion. Revenues were lower than the $2.98 billion recorded in the year-ago quarter.
Key Stats/Developments to Note
As of first quarter, Advance Auto Parts operated 5,059 stores and 130 Worldpac branches and served approximately 1,250 independently owned Carquest stores.
Market Reaction
Advance Auto Parts shares were inactive in the pre-trading session. 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 Partsearning report!
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look. See the pot trades we're targeting>>