Advance Auto Parts’ (AAP) top line is impacted by planned store closures and weakness in the DIY segment. The company also requires higher capital to support business growth.Let’s see what makes this Zacks Rank #5 (Strong Sell) stock a risky bet.Reduced Store Footprint, Weakness in DIY Ail Advance AutoAAP’s sales are impacted by planned store closures, which reduced net sales by about $700 million in the last 12 months. Pro-forma revenues for 2024 are expected to range from $8.2 billion to $8.4 billion, wit ...

Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today:Advance Auto Parts, Inc. (AAP) is an automotive replacement parts provider. The Zacks Consensus Estimate for its current year earnings has been revised 107.4% downward over the last 60 days.Albany International Corp. (AIN) is an industrial materials company. The Zacks Consensus Estimate for its current year earnings has been revised 12.9% downward over the last 60 days.CDW Corporation (CDW) is an information technology (IT) solutions ...

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Advance Auto Parts plans to close 523 corporate stores, exit 204 independently owned locations and close four distribution centers in the United States by mid-2025 as it works to boost its operational productivity.The automotive aftermarket parts provider operates 4,781 stores primarily within the United States and serves 1,125 independently owned Carquest-branded stores, it said in a Thursday (Nov. 14) press release.The announcement followed the company’s sale of its wholesale operation, Worldpac, which wa ...

Advance Auto Parts, Inc. (NYSE:AAP) Q3 2024 Earnings Call Transcript November 14, 2024 8:00 AM ET Company Participants Lavesh Hemnani - VP of IR Shane O'Kelly - President and CEO Ryan Grimsland - EVP and CFO Conference Call Participants Michael Lasser - UBS Chris Horvers - JPMorgan Scot Ciccarelli - Truist Seth Basham - Wedbush Steven Zaccone - Citigroup Seth Sigman - Barclays Zach Fadem - Wells Fargo Operator Hello, everyone, and welcome to the Q3 2024 Advance Auto Parts Earnings Conference Call. My name i ...

The action in Advance Auto Parts, Inc. AAP has some investors and traders confused. The company released its earnings report Thursday and it was well short of estimates.But the shares are trading higher. This is why it is our Stock of the Day.The company reported a loss of four cents per share. This was well below the Street's estimates of a profit of 49 cents. The revenue was also well short of estimates. It came in at $2.15 billion. Analysts were looking for $2.65 billion.But sometimes the headlines don't ...

Advance Auto Parts said Thursday it will close about 500 stores by mid-2025 and cut some jobs under a restructuring effort, as demand for vehicle parts takes a hit from fewer consumers opting to repair their cars.Shares of the auto parts retailer were up about 2% despite also reporting a surprise third-quarter adjusted loss of 4 cents per share.Analysts on average were expecting a profit of 49 cents, according to data compiled by LSEG.Advance Auto Parts said demand for vehicle parts takes a hit from fewer c ...

Advance Auto Parts, Inc. (AAP) reported an adjusted loss of 4 cents per share for the third quarter of 2024 as against the Zacks Consensus Estimate of earnings of 52 cents. The company had incurred an adjusted loss of 82 cents in the year-ago quarter.Find the latest earnings estimates and surprises on the Zacks Earnings Calendar.Advance Auto generated net revenues of $2.1 billion, which missed the Zacks Consensus Estimate of $2.67 billion. Comparable store sales decreased 2.3% year over year. We projected a ...

F/ADVANCE AUTO PARTS Q3 2024 RESULTS & THREE YEAR FINANCIAL PLAN NOVEMBER 14 | 2024 Forward Looking Statements and Non-GAAP Certain statements herein are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are usually identifiable by words such as "anticipate," "believe," "could," "estimate," "expect," "forecast, "guidance," "intend," "likely," "may," "plan," "position," "possible," "potential," "probable," "project," "should," ...

KEY TAKEAWAYSAdvance Auto Parts shares surged after the auto retailer announced plans Thursday to close hundreds of stores as it posted a surprise quarterly loss. As part of a new three-year turnaround plan, the company intends to reduce its US footprint by shuttering 523 Advance corporate stores, exiting 204 independent locations, and closing four distribution centers.The retailer reported a surprise third-quarter loss of 10 cents per share, versus expectations by analysts polled by Visible Alpha of 52 cen ...