---
schema_version: "secwatch.filing_event.v1"
accession: "0001158449-23-000237"
form_type: "8-K"
ticker: "AAP"
cik: "0001158449"
company_name: "ADVANCE AUTO PARTS INC"
filed_at: "2023-11-15T23:59:59+00:00"
generated_at: "2026-06-08T01:59:16.394920+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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%.

## SEC filing metadata
- accession: 0001158449-23-000237
- form_type: 8-K
- ticker: AAP
- cik: 0001158449
- company_name: ADVANCE AUTO PARTS INC
- filed_at: 2023-11-15T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1158449/000115844923000237/0001158449-23-000237-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1158449/000115844923000237/aap-20231115.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001158449-23-000237
- JSON: https://secwatch.observer/filing/0001158449-23-000237.json
- Plain text: https://secwatch.observer/filing/0001158449-23-000237.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1158449/000115844923000237/0001158449-23-000237-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.