AAP - Advance Auto Parts EPS of $0.72 revenue of $3.42B misses by $10M cuts outlook and dividend
2023-05-31 06:35:10 ET
- Advance Auto Parts press release ( NYSE: AAP ): Q1 EPS of $0.72 may not be comparable to consensus of $2.57.
- Revenue of $3.42B (+1.5% Y/Y) misses by $10M .
- Shares -2% PM.
- Comparable store sales decreased 0.4%.
- Jeff Shepherd, executive vice president and chief financial officer, commented, “Given the shortfall experienced this quarter, along with our revised outlook for the balance of the year, we are reducing our full-year 2023 guidance. In addition, our board of directors made the decision to reduce our quarterly cash dividend to provide enhanced financial flexibility. We are committed to improving our operational performance and driving increased profitability."
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Advance Auto Parts EPS of $0.72, revenue of $3.42B misses by $10M, cuts outlook and dividend