Advance Auto Parts Q3 adj EPS $2.84 vs $3.21; cuts FY adj EPS guidance to $12.60-$12.80

ADVANCE AUTO PARTS INC

2022-Q3 EPS reported $6.47 revenue$8,680,977,000

Net sales $2.6B (+0.8%); comp store sales -0.7% (in line with guided range).
GAAP diluted EPS $1.84 (-31.3%); adjusted diluted EPS $2.84 (-11.5%); FX impact -$0.20.
Adjusted operating income margin 9.8% vs 10.4% YoY (down 68 bps).
FY adj diluted EPS guidance lowered to $12.60-$12.80; free cash flow guidance cut to min $300M.
Declared $1.50/share dividend payable Jan 3, 2023; repurchased $75M in Q3, $1B remaining under buyback.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ADVANCE AUTO PARTS INC reported the third quarter ended October 8, 2022 results: revenue $2.6 billion, EPS $1.84. Guidance reaffirmed.

Period: the third quarter ended October 8, 2022
Revenue: $2.6 billion
EPS: $1.84
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Third Quarter 2022 Results (1) • Net sales increased 0.8% to $2.6 billion • Comparable store sales (2) decreased 0.7% • Gross profit decreased 0.2% to $1.2 billion; Adjusted gross profit (3) increased 2.9% to $1.2 billion • Gross profit margin decreased 44 basis points to 44.7% of Net sales; Adjusted gross profit margin (3) increased 98 basis points to 47.2% of Net sales • SG&A increased 5.2% to $1.0 billion; Adjusted SG&A (3) increased 5.4% to $989.3 million • SG&A was 38.0% of Net sales compared with 36.4% of Net sales; Adjusted SG&A (3) was 37.5% of Net sales compared with 35.8% of Net sales • Operating income decreased 22.7% to $177.2 million; Adjusted operating income (3) decreased 5.8% to $258.0 million • Operating income margin was 6.7% of Net sales compared with 8.7% of Net sales; Adjusted operating income margin (3) was 9.8% of Net sales compared with 10.4% of Net sales • Diluted EPS decreased 31.3% to $1.84; Adjusted diluted EPS (3) decreased 11.5% to $2.84

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Source: SEC EDGAR

accession 0001158449-22-000265

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