Advance Auto Parts Stock Accelerates on Q2 Earnings Beat

AAP beat EPS and revenue estimates for Q2

Advance Auto Parts (NYSE:AAP) stock was one the rise Tuesday following the release of its earnings report for the second quarter of the year.

Advance Auto Parts Stock Accelerates on Q2 Earnings Beat
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During the second quarter of 2018, Advance Auto Parts reported earnings per share of $1.97. This is better than the company’s earnings per share of $1.58 from the same period of the year prior. It was also a boon to AAP stock by coming in above Wall Street’s earnings per share estimate of $1.86 for the quarter.

Advance Auto Parts’ earnings report for the second quarter of the year also includes net income of $117.84 million. This is an increase over its net income of $87.05 million that was reported in the second quarter of the previous year.

Operating income reported by Advance Auto Parts for the second quarter of 2018 came in at $167.54 million. This is up from the retail company’s operating income of $146.71 million that was reported in the second quarter of 2017.

Advance Auto Parts also reported revenue of $2.33 billion for the second quarter of the year. This is an improvement over its revenue of $2.26 million that was reported during the same time last year. It was also good news for AAP stock by beating out analysts’ revenue estimate of $2.27 billion for the period.

Advance Auto Parts’s most recent earnings report also includes an update its outlook for the full year of 2018. The company says that it is now expecting revenue for the year to range from $9.30 billion to $9.50 billion. Wall Street is looking for revenue of $9.38 billion in 2018.

AAP stock was up 7% as of Tuesday morning and is up 36% year-to-date.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2018/08/advance-auto-parts-stock-jumps-on-earnings/.

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