Advance Auto Parts (AAP) came out with quarterly earnings of $0.67 per share, missing the Zacks Consensus Estimate of $0.69 per share. This compares to earnings of $0.72 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -2.90%. A quarter ago, it was expected that this auto parts retailer would post earnings of $0.24 per share when it actually produced a loss of $0.59, delivering a surprise of -345.83%.Over the last four quarters ...

Exhibit 99.1 Advance Auto Parts Reports First Quarter 2024 Results RALEIGH, N.C., May 29, 2024 - Advance Auto Parts, Inc. (NYSE: AAP), a leading automotive aftermarket parts provider in North America that serves both professional installer and do-it-yourself customers, announced its financial results for the first quarter ended April 20, 2024. “Our team continues to execute against our decisive actions, including commencing our supply chain consolidation and making meaningful progress toward the potential s ...

Wall Street analysts expect Advance Auto Parts (AAP) to post quarterly earnings of $0.69 per share in its upcoming report, which indicates a year-over-year decline of 4.2%. Revenues are expected to be $3.43 billion, up 0.5% from the year-ago quarter.The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.Ahead of a company's earnin ...

Third Point has formed a group in this investment with Saddle Point. This group has a collective economic ownership to 4,781,557 shares (8.04%) of AAP stock, which is a combination of common stock and derivatives, a vast majority of which is owned by Third Point. Saddle Point is an investment firm run by Roy Katzovicz, the former chief legal officer of Pershing Square Capital Management.Activist Commentary: Third Point is a multi-strategy hedge fund founded by Dan Loeb, that will selectively take activist p ...

One stock that might be an intriguing choice for investors right now is Advance Auto Parts, Inc. (AAP) . This is because this security in the Automotive - Retail and Wholesale - Parts space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguab ...

U.S. retail stocks Walmart (NYSE:WMT), Amazon (NYSE:AMZN) and Target (NYSE:TGT) are using their delivery services to keep customers coming back. A recent article from Barron’s highlighted how the three companies are winning customers with superior delivery services. Target launched Target Circle 360, a paid service that includes same-day delivery. Walmart’s Walmart+ made one-hour delivery available and Amazon Prime has provided tw0-day delivery for years. “‘Shopping is dynamic, and so are we,’ said Cara Syl ...

JaysonPhotography General Outlook On Tuesday afternoon, following the inflation report, I joined Nicole Petallides on the Schwab Network to discuss the general market outlook, Fed, Inflation, Hedging, Stocks, and more. Thanks to Nicole and Kaitlyn Crist for having me on: Predator's Ball Two weeks we did a comprehensive follow-up on our Advance Auto Parts position. We talked about it in the $50's on Fox Business' "Making Money with Charles Payne" on November 15, 2023, and just last week talked about it on F ...

Key TakeawaysActivist investor Dan Loeb's hedge fund Third Point LLC and Saddle Point Management L.P. teamed up to acquire a stake in Advance Auto Parts Inc.Third Point has placed three new directors on the Advance Auto Parts board.The company is in talks to sell its Canadian business and equipment distributor, Worldpac. Automotive aftermarket parts provider Advance Auto Parts Inc.'s (AAP) shares rose 4% in early trading on Tuesday after Dan Loeb’s activist hedge fund Third Point LLC disclosed a stake and a ...

Advance Auto Parts is appointing three new board members after hedge funds Third Point LLC and Saddle Point Management took positions in the automotive afterparts provider, the company said.The company will add executives with automotive supply chain and merchandising expertise to sit on its board which currently has nine members.The board refreshment comes only six months after the company picked Shane O’Kelly, a former US Army captain who had held senior roles at Home Depot, to replace Tom Greco as chief ...

RALEIGH, N.C.--(BUSINESS WIRE)--Advance Auto Parts, Inc. (NYSE: AAP), a leading automotive aftermarket parts provider in North America that serves both professional installer and do-it-yourself customers, today announced that it has appointed A. Brent Windom, Gregory L. Smith and Thomas W. Seboldt as independent directors to the Advance Auto Parts board, effective immediately. In connection with these appointments, the company has entered into a cooperation agreement with Third Point LLC (together with its ...