Advance Auto Parts: 2Q Earnings Snapshot

Associated Press
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RALEIGH, N.C. (AP) _ Advance Auto Parts Inc. (AAP) on Tuesday reported second-quarter profit of $124.8 million.

The Raleigh, North Carolina-based company said it had profit of $1.73 per share. Earnings, adjusted for one-time gains and costs, came to $2 per share.

The results did not meet Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $2.22 per share.

The auto parts retailer posted revenue of $2.33 billion in the period, also falling short of Street forecasts. Eight analysts surveyed by Zacks expected $2.36 billion.

Advance Auto Parts expects full-year revenue in the range of $9.65 billion to $9.75 billion.

Advance Auto Parts shares have decreased almost 10% since the beginning of the year. The stock has decreased almost 4% in the last 12 months.

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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

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