CORRECTION: Advance Auto Parts Q2 EPS $1.43 Misses $1.66 Estimate, Sales $2.69B Beat $2.66B Estimate
Portfolio Pulse from Benzinga Newsdesk
Advance Auto Parts (NYSE:AAP) reported Q2 earnings of $1.43 per share, missing the analyst consensus estimate of $1.66 by 13.86%. This is a 61.76% decrease from the same period last year. However, the company's quarterly sales of $2.69 billion beat the estimate of $2.66 billion by 0.98%, marking a 0.79% increase from last year.
August 23, 2023 | 10:42 am
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NEGATIVE IMPACT
Advance Auto Parts' Q2 earnings per share missed estimates by 13.86%, marking a significant YoY decrease. However, sales slightly exceeded expectations.
The company's earnings miss could negatively impact the stock price in the short term. However, the sales beat might mitigate some of this impact. The significant YoY decrease in earnings is a concerning sign for investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100