Advance Auto Parts: 3Q Earnings Snapshot
RALEIGH, N.C. (AP) _ Advance Auto Parts Inc. (AAP) on Tuesday reported third-quarter profit of $123.7 million.
On a per-share basis, the Raleigh, North Carolina-based company said it had net income of $1.75. Earnings, adjusted for one-time gains and costs, came to $2.10 per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.07 per share.
The auto parts retailer posted revenue of $2.31 billion in the period, which also beat Street forecasts. Eight analysts surveyed by Zacks expected $2.3 billion.
Advance Auto Parts expects full-year revenue in the range of $9.65 billion to $9.75 billion.
Advance Auto Parts shares have increased slightly more than 7% since the beginning of the year. The stock has decreased slightly more than 1% in the last 12 months.