Advance Auto Parts Q3 EPS $(0.82) Misses $1.45 Estimate, Sales $2.72B Beat $2.68B Estimate
Portfolio Pulse from Benzinga Newsdesk
Advance Auto Parts (AAP) reported a significant Q3 earnings miss with EPS of $(0.82), compared to the expected $1.45, marking a 142.71% decrease from the previous year. However, sales slightly exceeded expectations at $2.72B versus the estimated $2.68B, a 2.94% increase from the prior year.
November 15, 2023 | 11:45 am
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NEGATIVE IMPACT
Advance Auto Parts reported a substantial earnings miss for Q3, with EPS significantly below analyst expectations, despite a slight increase in sales compared to last year.
The substantial miss in earnings per share (EPS) is likely to have a negative impact on investor sentiment and the stock price in the short term. Although the sales figures were slightly better than expected, the magnitude of the earnings miss overshadows this positive aspect. Typically, such a significant earnings miss can lead to a decrease in stock price as it may reflect underlying issues with the company's profitability or cost management.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100