Categories Earnings, Industrials

Earnings: Advance Auto Parts Q3 profit soars on comp sales growth

Automotive aftermarket parts maker Advance Auto Parts (AAP) posted results before the market opened on Tuesday, Nov. 13. Net sales inched 4.3% up to $2.3 billion, pushing diluted earnings 20% up to $1.56 per share.

Gross profit improved 6.2% to $1.0 billion, while comparable store sales grew 4.3% in the quarter. Adjusted earnings soared 32.2% to $1.89 per share.

CEO Tom Grewei said that the company delivered its “strongest comparable sales growth in nearly eight years.”

“In addition, through the disciplined execution of our financial priorities we increased our free cash flow by 140% and returned $120 million to our shareholders through share repurchases,” he added.

Advance Auto Parts Q3 2018 Earnings Result

Advance Auto Parts updated its outlook, and now sees FY2018 net sales between $9.55 billion and $9.60 billion. Comparable store sales is touted to be 2-2.5%, while adjusted operating income margin is projected to be 7.6-7.8%.

On November 7, 2018, the AAP’s Board of Directors declared a regular quarterly cash dividend of $0.06 per share to be paid on January 4, 2019 to all common shareholders of record as of December 21, 2018.

 

Get access to timely and accurate verbatim transcripts that are published within hours of the event.

Most Popular

Does Unity Software (U) stock has more room to run?

Last month, the IPO market was in a full swing. IPOs of Snowflake (NYSE: SNOW) and JFROG (NASDAQ: FROG) had an impressive opening day in September, the former creating a

PepsiCo (PEP): Steady snacking habits amid pandemic drive strong quarter for beverage giant

PepsiCo Inc. (NASDAQ: PEP) beat market expectations on both revenue and earnings for the third quarter of 2020. The company saw the momentum continue in its snacks business while the

Does the virus-driven boom make Electronic Arts (EA) a good investment?

With more and more people turning to virtual entertainment sources, amid the virus-related movement restrictions, video game publishers like Electronic Arts (NASDAQ: EA) are witnessing unusually high demand. Not surprisingly,

Leave a Reply

Your email address will not be published. Required fields are marked *

Add Comment
Loading...

Cancel
Viewing Highlight
Loading...
Highlight
Close
Top