Advance Auto Parts Provides Weak FY24 Outlook Based on Continuing Operations

WASHINGTON (dpa-AFX) – While reporting third-quarter financial results on Thursday, automotive aftermarket parts supplier Advance Auto Parts Inc. (AAP) provided a weak full-year 2024 outlook on the basis for continued operations, after the sale is finalized. from Worldpac on November 1, 2024.

For fiscal 2024, the company now expects earnings from continuing operations to be between $0.60 and $0.00 per share on net sales from continuing operations of approximately $9.00 billion, with lower sales comparable stores by about 1%.

Previously, the company expected earnings of between $2.00 and $2.50 per share on net sales of between $11.15 billion and $11.25 billion, with same-store sales growth of between – 1 and 0 percent.

On average, analysts polled by Thomson Reuters expect the company to post earnings of $1.67 per share on revenue of $9.69 billion for the year. Analyst estimates generally exclude special items.

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