Advance Auto Parts Lowers FY24 Outlook: EPS Of $2.00-$2.50 From $3.75-4.25 Prior Vs. $3.64 Estimate; Sales Of $11.15B-$11.25B From $11.30B-$11.50B Prior Vs $11.30B Estimate
Portfolio Pulse from Benzinga Newsdesk
Advance Auto Parts has revised its FY24 outlook, lowering its EPS guidance to $2.00-$2.50 from $3.75-$4.25 and sales forecast to $11.15B-$11.25B from $11.30B-$11.50B. This is below the previous estimates of $3.64 EPS and $11.30B in sales.
August 22, 2024 | 10:36 am
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Advance Auto Parts has lowered its FY24 earnings and sales guidance, indicating potential challenges in its business operations. The revised EPS is now $2.00-$2.50, down from $3.75-$4.25, and sales are expected to be $11.15B-$11.25B, down from $11.30B-$11.50B.
The significant reduction in EPS and sales guidance suggests that Advance Auto Parts is facing operational challenges or market headwinds. This is likely to negatively impact investor sentiment and the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100