Advance Auto Parts (AAP) Misses Q1 EPS by 9c; CFO to Leave
Get Alerts AAP Hot Sheet
Revenue Growth %: +1.2%
Financial Fact:
Provision for income taxes: 63.99M
Today's EPS Names:
ESCA, LICT, NKSH, More
Join SI Premium – FREE
Advance Auto Parts (NYSE: AAP) reported Q1 EPS of $2.51, $0.09 worse than the analyst estimate of $2.60. Revenue for the quarter came in at $2.98 billion versus the consensus estimate of $3 billion. Comps fell 1.9%.
Advance also announced that Mike Norona, Chief Financial Officer, will be leaving the Company. Mr. Norona has agreed to remain in his current role until a successor has been named and will assist with an orderly transition. The Company has commenced an external search for a new CFO.
“Our first quarter results did not meet our expectations," said Tom Greco, Chief Executive Officer. "We are moving forward with urgency to drive improved performance. Our customers are our top priority and we are elevating our intensity to get the right parts to the right place at the right time as we empower our team members to serve the customer better than anyone else.”
Greco continued, “I have been energized by the strength and the quality of our team and the opportunity that lies ahead. I am confident our focus and commitment around delivering improved service for our customers will translate into increased profitability and shareholder value."
For earnings history and earnings-related data on Advance Auto Parts (AAP) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Intuitive Surgiical (ISRG) beats earnings, revenue expectations in Q1
- Five Point Holdings, LLC (FPH) Reports Q1 EPS of $0.03
- Chemung Financial (CHMG) Tops Q1 EPS by 44c
Create E-mail Alert Related Categories
Earnings, Hot Earnings, Hot Mgmt Changes, Management Changes, Management CommentsRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!