Advance Auto Parts shares are trading lower on continued downward momentum after the company yesterday reported worse-than-expected Q1 financial results cut FY23 EPS and revenue guidance below estimates.
Portfolio Pulse from Benzinga Newsdesk
Advance Auto Parts reported worse-than-expected Q1 financial results and cut its FY23 EPS and revenue guidance below estimates, causing its shares to trade lower.
June 01, 2023 | 2:17 pm
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Advance Auto Parts shares are trading lower due to worse-than-expected Q1 results and reduced FY23 guidance.
Advance Auto Parts reported worse-than-expected Q1 financial results, which is a negative signal for investors. Additionally, the company cut its FY23 EPS and revenue guidance below estimates, indicating potential future underperformance. This combination of factors is likely to cause the stock price to decline in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100