secwatch.observer — SEC 8-K summary
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Issuer:     ADVANCE AUTO PARTS INC (AAP)
CIK:        0001158449
Form:       8-K
Filed at:   2023-05-31T23:59:59+00:00
Accession:  0001158449-23-000136
Event type: earnings
Sentiment:  negative
Materiality: 0.90
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1158449/000115844923000136/0001158449-23-000136-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1158449/000115844923000136/aap-20230524.htm
  HTML page:      https://secwatch.observer/filing/0001158449-23-000136

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