AAP - Advance Auto Parts reports mixed Q2 earnings; raises FY23 outlook
2023-08-23 06:42:19 ET
- Advance Auto Parts press release ( NYSE: AAP ): Q2 GAAP EPS of $1.43 misses by $0.24 .
- Revenue of $2.7B (+1.1% Y/Y) beats by $40M .
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Comparable Store Sales Decreased 0.6%.
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Operating income of $134.4 million; Operating income margin of 5.0%.
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The company's effective tax rate was 25.9%, compared with 24.3% in the second quarter of the prior year.
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Full Year 2023 Guidance: Net sales of $11,250M-$11,350M vs. consensus of $11.21B; Diluted EPS of $4.50-$5.10 vs. consensus of $5.92; Comparable store sales of -0.5%to 0.5%
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Advance Auto Parts reports mixed Q2 earnings; raises FY23 outlook