Advance Auto Parts Reports Third Quarter 2023 Results and Provides Updates on Strategic and Operational Review
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November 15, 2023 7:14 AM EST
Shares of Advance Auto Parts (NYSE: AAP) fell nearly 5% in early trading Wednesday after posting mixed third quarter results, lowering its FY guidance, announcing a new CFO, and initiating separate sale processes for Worldpac and Canadian businesses.
Third quarter net sales rose 2.9% to $2.7 billion, which modestly beat the consensus of $2.68 billion. Comparable store sales increased by 1.2%. The company reported a loss of ($0.86) per share, versus the consensus of $1.44.
The company lowered the top... More
November 15, 2023 6:43 AM EST
(Updated - November 15, 2023 7:04 AM EST)
Advance Auto Parts (NYSE: AAP) reported Q3 EPS of ($0.82), versus the analyst estimate of $1.44. Revenue for the quarter came in at $2.7 billion versus the consensus estimate of $2.68 billion.
GUIDANCE:
Advance Auto Parts sees FY2023... More
