Advance Auto Parts Stock News

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 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 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. (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 - Je...

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 (NYSE: AAP ) just reported results for the second quarter of 2024. Advance Auto Parts reported earnings per share of 75 cents.

The car-parts retailer issues a mixed quarterly report and cuts its full-year earnings outlook.

RALEIGH, N.C.--(BUSINESS WIRE)---- $AAP #AAP--Advance Auto Parts, Inc. (NYSE: AAP), a leading automotive aftermarket parts provider in North America that serves both professional installer and do-it-yourself customers, announced its financial results for the second quarter ended July 13, 2024. “Our team delivered positive comparable sales growth while navigating a challenging demand environment...