Advance Auto Parts Q3 diluted loss $0.82 vs profit $1.92; initiates Worldpac, Canada sale

ADVANCE AUTO PARTS INC

2023-Q3 EPS reported $1.51 revenue$8,822,738,000

Q3 net sales $2.7B (+2.9% YoY); comparable store sales +1.2%.
Gross margin fell to 36.3% from 44.6% YoY, driven by $119M inventory reserve charge and higher product costs.
Diluted loss per share $(0.82) vs prior-year EPS of $1.92; operating loss $43.7M.
Initiating separate sale processes for Worldpac and Canadian business; Centerview Partners engaged.
FY 2023 diluted EPS guidance cut to $1.40-$1.80 from $4.50-$5.10; operating margin now 1.8%-2.0%.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ADVANCE AUTO PARTS INC reported third quarter ended October 7, 2023 results: revenue $2.7 billion, EPS $(0.82). Guidance reaffirmed.

Period: third quarter ended October 7, 2023
Revenue: $2.7 billion
EPS: $(0.82)
Guidance: reaffirmed
Result: reported results

Exact text from the filing

a filing. --- EX-99 (EX-99) --- Advance Auto Parts Reports Third Quarter 2023 Results and Provides Updates on Strategic and Operational Review Q3 Net Sales Increased 2.9% to $2.7 Billion; Comparable Store Sales Increased 1.2% Executing on New $150 Million Cost Reduction Program Initiates Sale Processes for Worldpac and Canadian Business RALEIGH, N.C., November

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Source: SEC EDGAR

accession 0001158449-23-000237

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