Advance Auto Parts Provides Weak FY24 Outlook On Continuing Operations Basis - Update

(RTTNews) - While reporting financial results for the third quarter on Thursday, automotive aftermarket parts provider Advance Auto Parts Inc. (AAP) provided weak outlook for the full-year 2024 on a continuing operations basis, following the completion of sale of Worldpac on November 1, 2024. For fiscal 2024, the company now projects results from continuing operations between a loss of $0.60 and $0.00 per share on net sales from continuing operations of about $9.00 billion, with comparable store sales decline of about 1 percent.

Previously, the company expected earnings in a range of $2.00 to $2.50 per share on net sales between $11.15 billion and $11.25 billion, with comparable store sales increase in a range of -1 to 0 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.67 per share on sales of $9.69 billion for the year. Analysts' estimates typically exclude special items.

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