Advance Auto Parts tops 3Q profit expectations, meets revenue forecasts



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ROANOKE, Virginia — Advance Auto Parts Inc. (AAP) on Thursday reported earnings of $122.2 million in its third quarter.

The Roanoke, Virginia-based company said it had profit of $1.66 per share. Earnings, adjusted for non-recurring costs, were $1.89 per share.

The results exceeded Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.87 per share.

The auto parts retailer posted revenue of $2.29 billion in the period, which met Street forecasts.

Advance Auto Parts expects full-year earnings in the range of $7.50 to $7.60 per share.

Advance Auto Parts shares have increased 35 percent since the beginning of the year. The stock has increased 50 percent in the last 12 months.

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This story was generated by Automated Insights using data from Zacks Investment Research. AAP stock research report from Zacks.

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Keywords:Advance Auto Parts,Earnings Report

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