Advance Auto Parts (AAP) Tops Q3 EPS by 14c, Updates Guidance
Advance Auto Parts (NYSE: AAP) reported Q3 EPS of $1.89, $0.14 better than the analyst estimate of $1.75. Revenue for the quarter came in at $2.3 billion versus the consensus estimate of $2.23 billion.
Comparable Store Sales Increased 4.6%
GUIDANCE:
Advance Auto Parts sees FY2018 revenue of $9.55-9.6 billion, versus the consensus of $9.49 billion.
The Company provided the following update to its full year 2018 outlook:
| Prior Outlook | Updated Outlook | |||||||
| As of Aug. 14, 2018 | As of Nov. 13, 2018 | |||||||
| Full Year 2018 | Full Year 2018 | |||||||
| ($ in millions) | Low | � | High | Low | � | High | ||
| Net sales | $ 9,300 | $ 9,500 | $ 9,550 | $ 9,600 | ||||
| Comparable store sales | 0.0% | 1.5% | 2.0% | 2.5% | ||||
| Adjusted operating income margin (a) | 7.5% | 7.8% | 7.6% | 7.8% | ||||
| Income tax rate | 24% | 26% | 24% | 26% | ||||
| Integration & transformation expenses (a) | $ 140 | $ 180 | $ 140 | $ 180 | ||||
| Capital expenditures | $ 180 | $ 220 | $ 180 | $ 220 | ||||
| Free cash flow (a) | Minimum $500 | $ 625 | $ 675 | |||||
| � | ||||||||
For earnings history and earnings-related data on Advance Auto Parts (AAP) click here.