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Advance Auto Parts (AAP) Misses on Q2 Earnings

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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.

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 prior to its second-quarter earnings release, Zacks Consensus Estimate is showing a declining trend in the last one month.

Last quarter, the company delivered a negative earnings surprise of 24.5%. In fact, in three of the trailing four quarters, the company recorded earnings miss and on one occasion, it beat the estimate. The average surprise in the trailing 12 months came in at negative 10.8%.

Earnings

Advance Auto Parts raked in adjusted earnings of $1.58 per share that missed the Zacks Consensus Estimate of $1.65. Adjusted earnings were lower than $1.90 recorded in the year-ago quarter.

Revenues

Advance Auto Parts logged revenues of $2.26 billion, almost in line with the Zacks Consensus Estimate. Revenues were slightly higher than the year-ago quarter figure.

Key Stats/Developments to Note

As of Jul 15, 2017, Advance Auto Parts operated 5,073 stores and 131 Worldpac branches and served approximately 1,250 independently owned Carquest stores.

Zacks Rank

Advance Auto Parts currently has a Zacks Rank #5 (Strong Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Check back later for our full write up on Advance Auto Parts earning report!

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