Advance Auto Parts: 2Q Earnings Snapshot
RALEIGH, N.C. (AP) _ Advance Auto Parts Inc. (AAP) on Tuesday reported second-quarter profit of $190 million.
On a per-share basis, the Raleigh, North Carolina-based company said it had net income of $2.74. Earnings, adjusted for one-time gains and costs, were $2.92 per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.97 per share.
The auto parts retailer posted revenue of $2.5 billion in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $2.36 billion.
Advance Auto Parts shares have risen 0.5% since the beginning of the year. The stock has risen 17% in the last 12 months.