Exhibit 99.1 Advance Auto Parts Reports Second Quarter 2024 Results RALEIGH, N.C., August 22, 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 second quarter ended July 13, 2024. "Our team delivered positive comparable sales growth while navigating a challenging demand environment during the second quarter. I would like to thank the team f ...

Advance Auto Parts, Inc. (NYSE:AAP) Q1 2024 Earnings Call Transcript May 29, 2024 8:00 AM ET Company Participants Elisabeth Eisleben - SVP, Communications and IR Shane O'Kelly - President and CEO Ryan Grimsland - EVP and CFO Tony Iskander - Treasurer Conference Call Participants Bret Jordan - Jefferies Michael Lasser - UBS Simeon Gutman - Morgan Stanley Greg Melich - Evercore ISI Scot Ciccarelli - Truist Christian Carlino - JPMorgan Zach Fadem - Wells Fargo Aaron Reed - Northcoast Research Rene Marin - Gugg ...

Revenue Growth - Revenue increased by 15% year-over-year, driven by strong performance in the North American market [1]. - The company achieved a record-breaking revenue of $5 billion in Q4, surpassing market expectations [2]. - Revenue from the EMEA region grew by 10%, contributing significantly to overall growth [3]. Profit Margins - Gross profit margin improved to 35%, up from 30% in the previous quarter [1]. - Operating profit margin reached 20%, reflecting cost optimization efforts [2]. - Net profit margin increased to 12%, driven by higher revenue and lower operational costs [4]. Cost Management - Operational costs were reduced by 8% through strategic supply chain optimizations [1]. - The company implemented cost-saving measures that resulted in a $50 million reduction in expenses [3]. - Marketing expenses were cut by 15% without impacting sales growth [4]. Market Expansion - The company successfully entered the Asian market, with initial sales exceeding projections [1]. - A new distribution center was opened in Europe to support regional growth [2]. - Partnerships with local retailers in South America have been established to boost market presence [3]. Product Development - The launch of the new product line contributed $200 million in revenue [1]. - R&D investment increased by 20%, focusing on innovation and new product development [2]. - Customer feedback on the latest product update has been overwhelmingly positive [4]. Customer Engagement - Customer retention rates improved to 90%, up from 85% last year [1]. - The company launched a new loyalty program, resulting in a 25% increase in repeat purchases [2]. - Customer satisfaction scores reached an all-time high of 95% [3]. Financial Health - The company's cash reserves increased to $1.2 billion, providing a strong financial cushion [1]. - Debt levels were reduced by 15%, improving the company's leverage ratio [2]. - Shareholder equity grew by 10%, reflecting strong financial performance [4]. Strategic Initiatives - The company announced a new sustainability initiative aimed at reducing carbon emissions by 30% by 2030 [1]. - A strategic partnership with a leading tech firm was formed to enhance digital capabilities [2]. - The board approved a $500 million share buyback program to return value to shareholders [3]. Workforce Development - Employee training programs were expanded, resulting in a 20% increase in productivity [1]. - The company hired 500 new employees to support growth initiatives [2]. - Employee satisfaction scores improved to 85%, reflecting better workplace conditions [4]. Risk Management - The company identified and mitigated key supply chain risks, ensuring business continuity [1]. - Cybersecurity measures were strengthened, reducing the risk of data breaches [2]. - A new risk management framework was implemented to better anticipate and address potential challenges [3].

Strategic Initiatives - The company is exploring divestitures of its Worldpac and Carquest Canada businesses as part of a strategic review, with no assurance of successful completion [39]. - Significant investments are being made to improve business performance, but risks exist regarding the effective implementation of these initiatives [37]. - The company plans to expand its market presence through new store openings and online business growth, but profitability of new locations is uncertain [49]. - The company may continue to pursue strategic acquisitions and partnerships, which involve risks that could impact growth and profitability [61]. Operational Challenges - The company is focusing on optimizing its distribution network to support sales growth, which may require capital investments [43]. - The company is experiencing challenges in maintaining supply chain efficiency, which could adversely affect inventory costs and product availability [42]. - There is a risk of increased costs due to supplier price hikes, which may negatively impact financial results [47]. - The effectiveness of the company's omnichannel strategy is critical, with potential risks related to e-commerce operations and customer retention [51]. - The company relies on suppliers to provide products that meet safety and quality standards, and any failure in this regard could lead to lost sales and increased costs [64]. - Business interruptions from natural disasters or geopolitical events could adversely impact merchandise availability and sales [69]. - Increased competition in the automotive aftermarket industry may require the company to lower prices or increase promotional spending, affecting revenue and profitability [77]. - The company faces risks related to inventory sourced outside the U.S., including geopolitical changes and trade regulations, which could increase costs and create shortages [80]. - Deteriorating macroeconomic conditions, such as inflation and high fuel costs, could negatively impact customer spending and, consequently, sales [81]. - Supplier relationships are critical, and any economic decline could affect suppliers' ability to provide products at favorable terms, impacting the company's operations [82]. - Rising energy prices directly impact operating and product costs, including store and supply chain expenses [84]. Financial Position and Risks - The company had $185.0 million of borrowings outstanding under its revolving credit facility as of December 31, 2022, but had no borrowings as of December 30, 2023 [148]. - The company's level of indebtedness could limit its ability to obtain additional financing for working capital and capital expenditures, potentially affecting liquidity [85]. - The company is subject to interest rate risk based on its borrowing against the revolving credit facility, which is linked to the adjusted Term Secured Overnight Financing Rate (SOFR) [148]. - The company's credit ratings are linked to interest rates on its revolving credit facility, and any negative impact on these ratings could result in higher interest expenses [87]. - The company is exposed to foreign currency exchange rate fluctuations, but these did not materially impact net income during 2023 and 2022 [149]. Internal Control and Governance - The company has experienced turnover in senior leadership positions, which has led to material weaknesses in internal controls over financial reporting [54]. - A material weakness in internal control over financial reporting was identified due to turnover in key accounting positions, which could lead to material misstatements [154]. - The company has hired approximately 30 experienced personnel to address the material weakness in internal controls [157]. - The company has made significant progress in executing its remediation plan for the material weakness, which remains a top priority [159]. Market and Stock Performance - The market price of the company's common stock may be volatile and could be affected by its ability to meet analysts' expectations [89]. - The amount and timing of the company's share repurchase program may fluctuate based on operational spending and other capital activities [90].

Advance Auto Parts, Inc. (NYSE:AAP) Q4 2023 Earnings Conference Call February 28, 2024 8:00 AM ET Company Participants Elisabeth Eisleben - Senior Vice President, Communications and Investor Relations Shane O'Kelly - President and Chief Executive Officer Ryan Grimsland - Executive Vice President and Chief Financial Officer Conference Call Participants Chris Horvers - JPMorgan Michael Lasser - UBS Simeon Gutman - Morgan Stanley Greg Melich - Evercore ISI Bret Jordan - Jefferies Steven Forbes - Guggenheim Par ...

Financial Performance - Fourth quarter 2023 net sales totaled $2.5 billion, a 0.4% decrease compared to the prior year, while full year net sales reached $11.3 billion, a 1.2% increase from 2022[4] - Comparable store sales for the fourth quarter decreased by 1.4%, and for the full year, they decreased by 0.3%[4] - Gross profit for the fourth quarter was $950.8 million, representing 38.6% of net sales, down from 43.6% in the prior year quarter, primarily due to inventory-related items and elevated supply chain costs[4] - Net income for the twelve weeks ended December 30, 2023, was $29.735 million, a significant decrease from $464.402 million in the same period last year[22] - Operating income for the year was reported at $670,253, reflecting a decrease from $714,151 in the previous year[25] - The company reported a gross profit of $4,932,235 for the year, down from $4,962,100 in the previous year[25] - Basic earnings per share decreased to $7.70 from $8.32, representing a decline of 7.5%[25] - Net income for the year ended December 30, 2023, was reported at $464,402, a decrease of 7.4% from the previously reported $501,872[26] Expenses and Losses - The company's SG&A expenses were $999.4 million in the fourth quarter, or 40.6% of net sales, compared to 38.8% in the prior year quarter[5] - The fourth quarter operating loss was $48.6 million, or (2.0)% of net sales, compared to an operating income of $119.3 million, or 4.8% of net sales in the prior year[7] - Diluted loss per share for the fourth quarter was $0.59, compared to diluted earnings per share of $1.39 in the prior year[7] - Free cash flow for the full year 2023 was $43.7 million, down from $312.5 million in the prior year[8] - The company achieved a Free cash flow of $43,653 for the year, down from $312,510 in the previous year[28] Cash Flow and Assets - Operating cash flow for the fifty-two weeks ended December 30, 2023, was $286.064 million, down from $736.571 million in the previous year[22] - Cash and cash equivalents at the end of the period increased to $503.471 million from $270.805 million year-over-year[22] - The net cash provided by operating activities was $736,571, an increase from $722,222 in the previous year[26] - The company reported a net cash increase of $232.666 million for the fifty-two weeks ended December 30, 2023, compared to a decrease of $317.245 million in the prior year[22] Strategic Initiatives - The company plans to implement an additional $50 million in annualized cost reductions related to indirect spending, building on $150 million in SG&A reductions executed in the fourth quarter[3] - The company is undergoing a strategic review, including potential divestitures of Worldpac and its Canadian business, and has made key leadership appointments to strengthen its operational focus[3] Adjustments and Corrections - Total assets as of December 31, 2022, were corrected to $11.986 billion after adjustments[24] - Total liabilities were adjusted to $9.387 billion as of December 31, 2022, reflecting a correction of $47.054 million[24] - The company identified errors impacting cost of sales and administrative costs, which were not material to prior financial statements[23] Debt and Leverage - Total GAAP debt increased to $1,786,361 as of December 30, 2023, compared to $1,373,283 at the end of the previous year[29] - The adjusted debt to adjusted EBITDAR ratio improved to 4.0 from 2.5, indicating a stronger leverage position[28] Store Operations - The company opened 61 new stores and branches while closing 40, resulting in a total of 5,107 stores as of December 30, 2023[30]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________ FORM 10-Q ________________________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended October 7, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________. Commission file number 001-16797 __________________ ...

Advance Auto Parts, Inc. (NYSE:AAP) Q3 2023 Earnings Conference Call November 15, 2023 8:00 AM ET Company Participants Elisabeth Eisleben - Senior Vice President, Communications and Investor Relations Shane O'Kelly - President and Chief Executive Officer Tony Iskander - Interim Chief Financial Officer Conference Call Participants Michael Lasser - UBS Christian Carlino - JPMorgan Elizabeth Suzuki - Bank of America Merrill Lynch Steven Zaccone - Citigroup Bret Jordan - Jefferies Scot Ciccarelli - Truist Secur ...

Advance Auto Parts, Inc. (NYSE:AAP) Q2 2023 Earnings Call August 23, 2023 8:00 AM ET Company Participants Elisabeth Eisleben - SVP, Communications and IR Gene Lee - Interim Executive Chair Tom Greco - President and Chief Executive Officer Tony Iskander - Interim Chief Financial Officer Conference Call Participants Simeon Gutman - Morgan Stanley Greg Melich - Evercore ISI Michael Lasser - UBS Elizabeth Suzuki - Bank of America Chris Horvers - JPMorgan Bret Jordan - Jefferies Seth Sigman - Barclays Steven Zac ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________ FORM 10-Q ________________________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 15, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________. Commission file number 001-16797 ____________________ ...