Pep Boys Trades Lower on Q1 Results (PBY)

released its fiscal first-quarter earnings results on Monday after the closing bell. The company reported earnings that missed Wall Street expectations but revenue that came in above estimates. In late trading, the stock was last down 2.55 percent to $12.25. For Q1, the company reported net income of $4 million or $0.07 per share, versus $1 million or $0.02 per share, in last year's corresponding period. The results included a $1.2 million asset impairment charge and a $3.8 million tax benefit. Wall Street analysts had consensus EPS estimates of $0.09 heading into the report. Sales in the period were $536 million compared to $524.6 million last year. This came in above Wall Street consensus estimates of $532.83 million.