Advance Auto Parts Q1 EPS $0.72 vs $2.26; cuts FY guidance and dividend

ADVANCE AUTO PARTS INC

2023-Q1 EPS reported $0.72 revenue$3,417,594,000

Q1 net sales $3.4B (+1.3%), comp store sales -0.4%; operating margin 2.6% (down from 6.0%).
Diluted EPS $0.72 vs $2.26 YoY; free cash flow outflow $468.9M vs $169.8M.
FY2023 guidance cut: net sales $11.2-11.3B, EPS $6.00-6.50, operating margin 5.0-5.3%.
Quarterly dividend reduced to $0.25 per share; payable July 28 to holders of record July 14.
Board appoints independent Chair Gene Lee as Interim Executive Chair to oversee CEO transition.

item 2.02 item 8.01 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 full year 2023 results: revenue $11,200 $11,300, EPS $6.00 $6.50. Guidance lowered.

Period: full year 2023
Revenue: $11,200 $11,300
EPS: $6.00 $6.50
Guidance: lowered
Result: guidance update

Exact text from the filing

Prior FY 2023 Outlook Updated FY 2023 Outlook As of February 28, 2023 As of May 31, 2023 ($ in millions, except per share data) Low High Low High Net sales $ 11,400 $ 11,600 $ 11,200 $ 11,300 Comparable store sales (1) 1.0 % 3.0 % (1.0) % 0.0 % Operating income margin 7.8 % 8.2 % 5.0 % 5.3 % Income tax rate 24.0 % 25.0 % 24.0 % 25.0 % Diluted EPS $ 10.20 $

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ADVANCE AUTO PARTS INC reported its first quarter ended April 22, 2023 results: revenue $3.4 billion, EPS $0.72. Guidance lowered.

Period: its first quarter ended April 22, 2023
Revenue: $3.4 billion
EPS: $0.72
Guidance: lowered
Result: reported results

Exact text from the filing

Advance Auto Parts Reports First Quarter 2023 Results Q1 Net Sales Increased 1.3% to $3.4 Billion; Comparable Store Sales Decreased 0.4% Operating Income of $90.0 Million; Operating Income Margin of 2.6% RALEIGH, N.C., May 31, 2023 - Advance Auto Parts, Inc. (NYSE: AAP), a leading automotive aftermarket parts provider in North America, that serves both professional installer and do-it-yourself customers, announced its financial results for the first quarter ended April 22, 2023.

View on SEC.gov

5 earnings releases filed in the last 30 days. Browse all earnings releases →

ADVANCE AUTO PARTS INC filing history →

Source: SEC EDGAR

accession 0001158449-23-000136

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.