Advance Auto Parts earnings for the first quarter of 2019 have AAP stock up on Wednesday.
Advance Auto Parts (NYSE:AAP) starts off its earnings report for the first quarter of the year with earnings per share of $2.46. This is better than the company’s earnings per share of $2.10 from the same time last year. It was also a boon to AAP stock by speeding past Wall Street’s earnings per share estimate of $2.36 for the quarter.
Net income reported in the Advance Auto Parts earnings release for the first quarter of 2019 comes in at $142.50 million. That’s up from the company’s net income of $136.73 million reported in the first quarter of 2018.
The Advance Auto Parts earnings report for the first quarter of the year also includes operating income of $207.94 million. This is an increase over the auto parts retailer’s operating income of $198.24 million reported in the same period of the year prior.
Advance Auto Parts earnings for the first quarter of 2019 have revenue coming in at $2.95 billion. This is an improvement over the company’s revenue of $2.87 billion reported in the first quarter of the previous year. It was also good news for AAP stock by matching analysts’ revenue estimate for the period.
The most recent Advance Auto Parts earnings report also includes its guidance for the full year of 2019. The company expects revenue to range from $9.65 billion to $9.80 billion. Wall Street is estimating revenue of $8.14 billion for the year.
AAP stock was up 3% as of Wednesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.