Advance Auto Parts (AAP) Misses Q4 EPS by 10c, Revenues Beat; Offers FY21 Revenue Outlook

Advance Auto Parts (NYSE: AAP) reported Q4 EPS of $1.87, $0.10 worse than the analyst estimate of $1.97. Revenue for the quarter came in at $2.4 billion versus the consensus estimate of $2.36 billion.

GUIDANCE:

Advance Auto Parts sees FY2021 revenue of $10.1-10.3 billion, versus the consensus of $10.19 billion.

Full Year 2021 Guidance

"Given our belief that our economy is beginning to see signs of stabilization and progress is underway with COVID-19 vaccinations, we are optimistic regarding a continued recovery in 2021. While uncertainty remains, we are providing financial guidance for the full year 2021 based on the factors we know today. In addition to our 2021 outlook, we are highlighting key assumptions impacting our current financial models," said Jeff Shepherd, executive vice president and chief financial officer.

The Company provided the following assumptions based on projections for the U.S. and guidance ranges related to its 2021 outlook:

• An increase in total vehicle miles driven in the U.S. from 2020 but to remain below 2019
• Consistent year-over-year federal tax rate
• No material increases in the federal minimum wage
• A reduction in COVID-19 related expenses

For earnings history and earnings-related data on Advance Auto Parts (AAP) click here.

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