Advance Auto Parts (AAP) Beats on Revenue, EPS Miss; Lowers FY23 Revenue Guidance
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Advance Auto Parts (AAP) falls on mixed Q3 and lower guidance, looks to streamline with sale of Worldpac
November 15, 2023 7:14 AM ESTShares 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
