Advance Auto Parts (AAP) Tops Q2 EPS by 12c, Comps Increase 2.8%, Offers FY Guidance
Advance Auto Parts (NYSE: AAP) reported Q2 EPS of $1.97, $0.12 better than the analyst estimate of $1.85. Revenue for the quarter came in at $2.33 billion versus the consensus estimate of $2.27 billion.
- Comparable Store Sales Increased 2.8%
- Announces New $600 Million Share Repurchase Authorization
GUIDANCE:
Advance Auto Parts sees FY2018 revenue of $9.3-9.5 billion, versus the consensus of $9.38 billion.
The Company provided the following update to its full year 2018 outlook:
| Full Year 2018 | ||||||
| ($ in millions) | Low | High | ||||
| Total Net Sales | $ | 9,300 | $ | 9,500 | ||
| Comparable Store Sales (1) | 0.0% | 1.5% | ||||
| Adjusted Operating Income Margin (2) | 7.5% | 7.8% | ||||
| Income Tax Rate | 24% | 26% | ||||
| Integration & Transformation Expenses (2) | $ | 140 | $ | 180 | ||
| Capital Expenditures | $ | 180 | $ | 220 | ||
| Free Cash Flow | Minimum $ 500 | |||||
For earnings history and earnings-related data on Advance Auto Parts (AAP) click here.