Advance Auto Parts reports Q2 adjusted EPS 69c, consensus 58c

Reports Q2 revenue $2B, consensus $1.97B. Q2 comparable store sales increased 0.1%. “The Advance team delivered solid second-quarter results, with both sales and operating margin at the upper end of our expectations. I want to thank the team for their dedication and hard work throughout the quarter,” said Shane O’Kelly, president and chief executive officer. “Our comparable sales performance was fueled by growth in the Pro business, and we are encouraged by the early signs of stabilization in our DIY business. Our strategic plan is designed to establish a strong foundation for consistently delivering exceptional customer service, and I am pleased with the progress being made by the team. Q2 also marked an important milestone with Advance returning to profitability. Over the past year, we have taken decisive actions aimed at creating long-term value for our shareholders, and we remain focused on positioning the Company for sustained, profitable growth.”