Advance Auto Parts: 3Q Earnings Snapshot
ROANOKE, Va. (AP) _ Advance Auto Parts Inc. (AAP) on Tuesday reported third-quarter net income of $115.8 million.
The Roanoke, Virginia-based company said it had profit of $1.56 per share. Earnings, adjusted for one-time gains and costs, were $1.89 per share.
The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.77 per share.
The auto parts retailer posted revenue of $2.27 billion in the period, also surpassing Street forecasts. Eight analysts surveyed by Zacks expected $2.23 billion.
Advance Auto Parts expects full-year revenue in the range of $9.55 billion to $9.6 billion.
Advance Auto Parts shares have increased 68 percent since the beginning of the year. The stock has more than doubled in the last 12 months.