Why Advance Auto Parts Stock Is Breaking Down Today
Advance Auto Parts Inc (NYSE: AAP ) shares are trading lower Wednesday after the company reported worse-than-expected financial results and cut guidance below analyst estimates. Advance Auto Parts said second-quarter revenue increased 0.6% year-over-year to $2.67 billion, which missed average analyst estimates of $2.75 billion, according to Benzinga Pro . The company reported quarterly earnings of $3.74 per share, which missed average analyst estimates of $3.77 per share. Advance Auto Parts said comparable store sales decreased 0.6% year-over-year. "Our DIY omnichannel sales were particularly challenged in the quarter and we expect that high inflation and significant year over year increases in fuel prices will continue … Full story available on Benzinga.com
Why Advance Auto Parts Stock Is Breaking Down Today
Advance Auto Parts Inc (NYSE: AAP ) shares are trading lower Wednesday after the company reported worse-than-expected financial results and cut guidance below analyst estimates. Advance Auto Parts said second-quarter revenue increased 0.6% year-over-year to $2.67 billion, which missed average analyst estimates of $2.75 billion, according to Benzinga Pro . The company reported quarterly earnings of $3.74 per share, which missed average analyst estimates of $3.77 per share. Advance Auto Parts said comparable store sales decreased 0.6% year-over-year. "Our DIY omnichannel sales were particularly challenged in the quarter and we expect that high inflation and significant year over year increases in fuel prices will continue … Full story available on Benzinga.com