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Advance Auto Parts: 1Q Earnings Snapshot

RALEIGH, N.C. (AP) _ Advance Auto Parts Inc. (AAP) on Wednesday reported first-quarter earnings of $142.5 million.

On a per-share basis, the Raleigh, North Carolina-based company said it had profit of $1.98. Earnings, adjusted for one-time gains and costs, came to $2.46 per share.

The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $2.36 per share.

The auto parts retailer posted revenue of $2.95 billion in the period, also exceeding Street forecasts. Eight analysts surveyed by Zacks expected $2.94 billion.

Advance Auto Parts expects full-year revenue in the range of $9.65 billion to $9.8 billion.

Advance Auto Parts shares have increased slightly more than 2% since the beginning of the year. The stock has risen 35% 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 https://www.zacks.com/ap/AAP