Advance Auto Parts Analysts Slash Their Forecasts After Downbeat Earnings

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. ...