Skip to main content

Market Overview

UPDATE: Advance Auto Parts Posts Better-Than-Expected Q2 Results, Lifts Outlook


Shares of Advance Auto Parts (NYSE: AAP) rose 2.9% in pre-market trading after the company reported upbeat second-quarter results and lifted its profit forecast for the full year.

The Roanoke, Virginia-based company posted a quarterly profit of $262.7 million, or $2.08 per share, versus a year-ago profit of $196.1 million, or $1.60 per share.

Its sales surged 51.5% to $2.35 billion. However, analysts were expecting a profit of $2.01 per share on revenue of $2.32 billion.

Advance Auto's same-store sales climbed 2.6% in the quarter.

Gross profit rate declined to 45.2% of sales, versus 50.3%. Advance Auto's comparable operating income climbed 34% y/y to $262.7 million.

Capital expenditures declined to $106.3 million in the quarter from $111.9 million.

As of July 12, 2014, Advance Auto Parts operated 5,289 company-operated stores and 106 Worldpac branches, and served around 1,400 independently-owned Carquest stores.

"We are pleased with our second quarter performance led by strong execution from our Team Members delivering Comparable Cash EPS growth of 30% and an increase in comparable store sales of 2.6% in the quarter," said Darren R. Jackson, Chief Executive Officer.
Advance Auto now expects full-year earnings of $7.50 to $7.60 per share, versus earlier forecast of $7.30 to $7.50 per share.

Advance Auto shares surged 2.9% to $126.50 in pre-market trading.


Related Articles (AAP)

View Comments and Join the Discussion!

Posted-In: profitEarnings News Guidance

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at