Advance Auto (AAP) Q2 Earnings Miss Estimates, Guidance Trimmed
Advance Auto (AAP) reports Q2 results and expects 2024 net sales in the band of $11.15-$11.25 billion, down from the prior estimate of $11.30-$11.40 billion.
Advance Auto Parts Analysts Slash Their Forecasts After Downbeat Earnings
Advance Auto Parts Inc. AAP reported weak second-quarter earnings and slashed FY24 outlook on Thursday.
Why Advance Auto Parts Stock Reversed This Week
Management is struggling with its pricing initiatives and slashed its full-year guidance. The turnaround strategy is not progressing as well as board members expected.
Why Advance Auto Parts Stock Plunged to Its Lowest Level of 2024
Advance Auto Parts (AAP) shares plunged after the company announced quarterly earnings that came in well short of expectations and cut its outlook for the full year. The earnings news upstaged the sale of its wholesale distribution business.
Advance Auto Parts: Q2 Earnings Disappoint, Turnaround Isn't Gaining Traction
Advance Auto Parts reported soft earnings and cut full-year guidance significantly, raising concerns about the company's projected turnaround. The company's profit margins are continuing to trend in the wrong direction despite the focus on cost-cutting. The WorldPac sale helps improve the company's balance sheet but raises questions about long-term strategic direction.
Advance Auto Parts Sells Wholesale Arm for $1.5 Billion
Advance Auto Parts has sold its wholesale operation Worldpac for $1.5 billion. The sale, to funds managed by the Carlyle Group, is expected to be finalized by the end of the year, Advance said in a Thursday (Aug. 22) news release.
Advance Auto Parts Eyes Long-Term Growth Despite Q2 Hurdles
Advance Auto Parts NYSE: AAP witnessed a dramatic plunge in its stock price, falling over 20% in pre-market trading after the company released its second-quarter 2024 earnings report. The disappointing results triggered a strong adverse reaction from investors, including a miss on earnings per share (EPS) expectations, lower-than-anticipated revenue, and a reduction in full-year guidance.
Advance Auto Parts, Inc. (AAP) Q2 2024 Earnings Call Transcript
Advance Auto Parts, Inc. (NYSE:AAP ) Q2 2024 Earnings Conference Call August 22, 2024 8:00 AM ET Company Participants Lavesh Hemnani - Vice President, Investor Relations Shane O'Kelly - President and Chief Executive Officer Ryan Grimsland - Executive Vice President and Chief Financial Officer Conference Call Participants Greg Melich - Evercore ISI Simeon Gutman - Morgan Stanley Bret Jordan - Jefferies Scot Ciccarelli - Truist Michael Lasser - UBS Christian Carlino - JPMorgan Seth Sigman - Barclays Steven Zaccone - Citigroup Brian Nagel - Oppenheimer Seth Basham - Wedbush Securities Chris Bottiglieri - BNP Paribas Operator Welcome to the Advance Auto Parts Second Quarter 2024 Earnings Conference Call. Before we begin Lavesh Hemnani, Vice President, Investor Relations will make a brief statement concerning forward-looking statements that will be discussed on this call.
Why Advance Auto Parts Stock Just Crashed 16%
Advance Auto Parts' profits fell 43% year over year in Q2, despite only a tiny drop in sales. Management will sell its Worldpac wholesale auto parts business, reducing future revenue more dramatically.
Advance Auto Parts (AAP) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
Although the revenue and EPS for Advance Auto Parts (AAP) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Advance Auto Parts (AAP) Q2 Earnings Miss Estimates
Advance Auto Parts (AAP) came out with quarterly earnings of $0.75 per share, missing the Zacks Consensus Estimate of $0.97 per share. This compares to earnings of $1.43 per share a year ago.
