Advance Auto Parts Inc. AAP reported weak second-quarter earnings and slashed FY24 outlook on Thursday.The company reported earnings per share of 75 cents, missing the street view of $1.07. Quarterly sales of $2.683 billion beat the street view of $2.679 billion.Advance Auto Parts revised its FY24 outlook, lowering its earnings per share forecast to $2.00 – $2.50 from the previous range of $3.75 – $4.25, which contrasts with the $3.63 estimate. Additionally, the company adjusted its sales projection to $11. ...

The auto parts retailer delivered another disappointing set of earnings.Automotive parts retailer Advance Auto Parts' (AAP -17.47%) CEO Shane O'Kelly has his work cut out for him. The stock's 17.8% decline in the week to Friday morning is the latest disappointment for a stock down 62% over the last decade compared to a 490% rise at AutoZone and a 625% increase at O'Reilly Automotive over the same period.Advance Auto Parts's second-quarter earningsAs previously noted, second-quarter earnings saw a severe con ...

Key TakeawaysAdvanced Auto Parts missed expectations with its second-quarter earnings results and lowered its full-year guidance.The company also announced the sale of its wholesale distribution arm for $1.5 billion.CEO Shane O’Kelly said the company faced a "challenging demand environment."Shares in the auto parts retailer fell as much as 22% early in Thursday's session, hitting their lowest level since last October. Advance Auto Parts (AAP) shares plunged after the company announced quarterly earnings th ...

J. Michael JonesAdvance Auto Parts (NYSE:AAP) surprised the market Thursday with another soft earnings report and big cut to its full-year 2024 guidance. Back in February, I warned that it was too early to buy into the company's projected turnaround. AAP stock is a classic bull and bear debate. Activist investors see the potential in the company with its massive store base, well-known brand, and currently depressed valuation. In theory, if Advance Auto Parts can increase its profit margins to somewhat c ...

Advance Auto Parts has sold its wholesale operation Worldpac for $1.5 billion.The sale, to funds managed by the Carlyle Group, is expected to be finalized by the end of the year, Advance said in a Thursday (Aug. 22) news release.“The sale enables our team to sharpen their focus on decisive actions to turn around the Advance blended box business,” said CEO Shane O’Kelly.“Proceeds from the transaction will provide greater financial flexibility as we continue our strategic and operational review to improve the ...

Advance Auto Parts TodayAAPAdvance Auto Parts$51.63 -10.29 (-16.62%) 52-Week Range$47.73▼$88.56Dividend Yield1.94%P/E Ratio74.83Price Target$63.36Add to WatchlistAdvance Auto Parts NYSE: AAP witnessed a dramatic plunge in its stock price, falling over 20% in pre-market trading after the company released its second-quarter 2024 earnings report. The disappointing results triggered a strong adverse reaction from investors, including a miss on earnings per share (EPS) expectations, lower-than-anticipated revenu ...

Advance Auto Parts, Inc. (NYSE:AAP) Q2 2024 Earnings Conference Call August 22, 2024 8:00 AM ET Company Participants Lavesh Hemnani - Vice President, Investor Relations Shane O'Kelly - President and Chief Executive Officer Ryan Grimsland - Executive Vice President and Chief Financial Officer Conference Call Participants Greg Melich - Evercore ISI Simeon Gutman - Morgan Stanley Bret Jordan - Jefferies Scot Ciccarelli - Truist Michael Lasser - UBS Christian Carlino - JPMorgan Seth Sigman - Barclays Steven Zac ...

Advance Auto Parts is in trouble, and things are getting worse.Advance Auto Parts (AAP -16.50%) stock tumbled 15.8% through 10:35 a.m. ET after the company beat on sales but missed on earnings in its latest earnings release Thursday morning.Heading into the fiscal second-quarter results, analysts forecast the automotive parts retailer would earn $0.94 per share on just under $2.7 billion in sales in the period ended July 13. Advance Auto Parts nailed the sales target, but whiffed on profits, reporting just ...

For the quarter ended June 2024, Advance Auto Parts (AAP) reported revenue of $2.68 billion, down 0.1% over the same period last year. EPS came in at $0.75, compared to $1.43 in the year-ago quarter.The reported revenue represents a surprise of +0.38% over the Zacks Consensus Estimate of $2.67 billion. With the consensus EPS estimate being $0.97, the EPS surprise was -22.68%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine ...

Advance Auto Parts (AAP) came out with quarterly earnings of $0.75 per share, missing the Zacks Consensus Estimate of $0.97 per share. This compares to earnings of $1.43 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -22.68%. A quarter ago, it was expected that this auto parts retailer would post earnings of $0.69 per share when it actually produced earnings of $0.67, delivering a surprise of -2.90%.Over the last four quarter ...