Advance Auto Parts: Fourth Quarter Earnings Overview

Advance Auto Parts Reports Fourth-Quarter Profit

Advance Auto Parts Inc., headquartered in Raleigh, North Carolina, announced a net profit of $6 million for the fourth quarter, marking a turnaround from a loss in the same quarter last year.

The company’s earnings translated to $0.10 per share. When excluding certain one-time items, adjusted earnings reached $0.86 per share.

These results exceeded analysts’ expectations, as a consensus of 12 analysts surveyed by Zacks Investment Research had predicted earnings of $0.41 per share.

During the quarter, Advance Auto Parts generated $1.97 billion in revenue, surpassing the $1.95 billion forecasted by nine Zacks analysts.

For the full year, the company reported a net income of $44 million, or $0.73 per share, returning to profitability. Annual revenue totaled $8.6 billion.

Looking ahead, Advance Auto Parts projects its full-year earnings to fall between $2.40 and $3.10 per share, with anticipated revenue ranging from $8.49 billion to $8.57 billion.

Since the start of the year, the company’s stock price has climbed 48%, and over the past 12 months, shares have risen by 23%.

This article was produced by Automated Insights using data provided by Zacks Investment Research.