Auto parts and accessories retailer Advance Auto Parts (NYSE:AAP) will be reporting results tomorrow before the bell. Here's what you need to know.
Last quarter Advance Auto Parts reported revenues of $2.69 billion, flat 0.8% year on year, in line with analyst expectations. It was a decent quarter for the company, with AAP raising its full-year revenue guidance and same-store sales growth expectations.
Is Advance Auto Parts buy or sell heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts are expecting Advance Auto Parts's revenue to grow 1.3% year on year to $2.67 billion, improving on the 0.8% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.44 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates four times over the last two years.
Looking at Advance Auto Parts's peers in the auto parts retailer segment, some of them have already reported Q3 earnings results, giving us a hint of what we can expect. Monro's revenues decreased 2.3% year on year, missing analyst estimates by 2.8% and Genuine Parts reported revenues up 2.6% year on year, missing analyst estimates by 1.5%. Monro traded up 1.1% on the results, Genuine Parts was down 3.2%.
Read the full analysis of Monro's and Genuine Parts's results on StockStory.
There has been a stampede out of high valuation technology stocks and while some of the auto parts retailer stocks have fared somewhat better, they have not been spared, with share price declining 2.1% over the last month. Advance Auto Parts is up 4% during the same time, and is heading into the earnings with analyst price target of $67.6, compared to share price of $55.75.
The author has no position in any of the stocks mentioned.
