Advance Auto Parts (AAP) Misses Q2 EPS by 9c, Revenues In-Line, Offers FY17 Outlook
(Updated - August 15, 2017 6:35 AM EDT)
Advance Auto Parts (NYSE: AAP) reported Q2 EPS of $1.58, $0.09 worse than the analyst estimate of $1.67. Revenue for the quarter came in at $2.26 billion versus the consensus estimate of $2.26 billion.
- Comparable store sales flat.
2017 Annual Outlook
The Company provided the following update to its full fiscal year 2017 guidance:
| New Stores | 60-65 new stores | |||
| Comparable Store Sales | -3% to -1% | |||
| Adjusted Operating Income Rate | 200 to 300 basis points year over year reduction | |||
| Income Tax Rate | 37.5% to 38.0% | |||
| Integration & Transformation Expenses | Approximately $100 to $150 million | |||
| Capital Expenditures | Approximately $250 million | |||
| Free Cash Flow | Minimum $300 million | |||
| Diluted Share Count | Approximately 74 million shares |
For earnings history and earnings-related data on Advance Auto Parts (AAP) click here.