Advance Auto Parts Falls After Q2 Earnings Miss
Advance Auto Parts (NYSE: AAP) reported second-quarter earnings of $2 per share, which missed the analyst consensus estimate of $2.21 by 9.5%. This is a 1.52% increase over earnings of $1.97 per share from the same period last year.
The company reported quarterly sales of $2.3 billion, which missed the analyst consensus estimate of $2.36 billion by 2.54%. This is a 1.16% decrease over sales of $2.327 billion the same period last year.
"While the second quarter was challenging, we continue to make progress, including building a differentiated Customer Value Proposition in both Professional and DIY Omnichannel in addition to driving productivity for the long term," said CEO Tom Greco. "We remain committed to our disciplined approach to increasing comparable store sales, expanding margins and delivering significant cash flow in the back half of 2019."
Advance Auto Parts shares were trading down 8.3% at $130.25 in Tuesday’s pre-market session. The stock has a 52-week high of $186.15 and a 52-week low of $139.96.
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