Reports Q3 revenue $2.0B, consensus $2.02B. “We delivered our strongest quarterly performance in over two years, thanks to the team’s determination, commitment to our turnaround objectives, and their dedication to serving our customers,” said CEO Shane O’Kelly. “Our comparable sales performance was led by growth in the Pro channel. The DIY channel also delivered positive comparable sales growth in the quarter. We continue to make progress on our strategic priorities, and based on our updated guidance we are on track to deliver approximately 200-basis points of annual margin expansion in the first year of our turnaround. Our initiatives are geared toward delivering sustained, profitable growth and we remain committed to advancing our strategic priorities to create shareholder value over the long-term.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AAP:
- Is AAP a Buy, Before Earnings?
- Advance Auto Parts price target raised to $55 from $50 at Roth Capital
- Advance Auto Parts price target lowered to $50 from $53 at Truist
- Jefferies (JEF) Stock Slipping on Oversized Exposure to First Brands Bankruptcy
- Target initiated, Nike upgraded: Wall Street’s top analyst calls