Advance Auto Parts (NYSE:AAP) earnings for the auto parts retailer’s fourth quarter of 2019 have AAP stock taking off on Tuesday. This is thanks to its adjusted earnings per share (EPS) of $1.64, which was well above Wall Street’s estimate of $1.35 per share. Furthermore, revenue of $2.11 billion comes in just below analysts’ estimates of $2.12 billion.
Here’s what else is worth mentioning from the most recent Advance Auto Parts earnings report.
- Adjusted EPS for the quarter comes in 40.17% higher than $1.17 in Q4 2018.
- Revenue is largely unchanged from what was reported during the same time last year.
- The Advance Auto Parts earnings report also includes a net income of $95.91 million.
- That’s a 79.47% increase over the company’s net income of $53.44 million from the same period of the year prior.
Tom Greco, President and CEO of Advance Auto Parts, said the following about the AAP stock earnings report:
“Although sales growth was below our expectations, we grew adjusted operating margin by 106 basis points, which reinforces our team’s commitment to delivering continuous, incremental improvement on the substantial margin expansion opportunity we have.”
The Advance Auto Parts earnings report also includes its 2020 outlook. It is expecting revenue for the year to range from $9.88 billion to $10.1 billion. For comparison, Wall Street is expecting revenue of $9.93 billion for the full year of 2020.
AAP stock is up around 7% as of Tuesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.