Advance Auto's stock rises after upbeat guidance for 2024 offsets quarterly loss

Advance Auto Parts Inc.’s stock jumped 7.5% early Wednesday, after the car parts maker’s upbeat profit guidance weighed against a quarterly loss as it continues to overhaul its business and rein in costs. Raleigh, N.C.-based Advance Auto AAP, +7.31% had a net loss of $35.1 million, or 59 cents a share, for the quarter, after income of $82.9 million, or $1.39 a share, in the year-earlier period. Sales fell to $2.465 billion from $2.474 billion a year ago. The FactSet consensus was for EPS of 21 cents and sal ...