Advance Auto Parts: Q3 Earnings Snapshot
RALEIGH, N.C. (AP) — RALEIGH, N.C. (AP) — Advance Auto Parts Inc. (AAP) on Wednesday reported a third-quarter loss of $48.6 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Raleigh, North Carolina-based company said it had a loss of 82 cents.
The results missed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.42 per share.
The auto parts retailer posted revenue of $2.72 billion in the period, which beat Street forecasts. Eight analysts surveyed by Zacks expected $2.68 billion.
Advance Auto Parts expects full-year earnings to be $1.40 to $1.80 per share, with revenue in the range of $11.25 billion to $11.3 billion.
Advance Auto Parts shares have fallen 60% since the beginning of the year. The stock has fallen 68% 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
