Auto parts and accessories retailer Advance Auto Parts (NYSE:AAP) will be reporting results tomorrow morning. Here’s what investors should know.
Advance Auto Parts met analysts’ revenue expectations last quarter, reporting revenues of $3.41 billion, flat year on year. It was a solid quarter for the company, with optimistic earnings guidance for the full year and a decent beat of analysts’ earnings estimates.
Is Advance Auto Parts a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Advance Auto Parts’s revenue to be flat year on year at $2.67 billion, slowing from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $0.94 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Advance Auto Parts has missed Wall Street’s revenue estimates four times over the last two years.
Looking at Advance Auto Parts’s peers in the auto parts retailer segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Monro’s revenues decreased 10.3% year on year, meeting analysts’ expectations, and O'Reilly reported revenues up 5%, falling short of estimates by 1.1%. Monro traded up 11.4% following the results while O'Reilly was also up 3.8%.
Read our full analysis of Monro’s results here and O'Reilly’s results here.
Investors in the auto parts retailer segment have had steady hands going into earnings, with share prices flat over the last month. Advance Auto Parts is up 1.9% during the same time and is heading into earnings with an average analyst price target of $59.9 (compared to the current share price of $60.8).
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