Advance Auto Parts corrects FY2024 net sales guidance high end to $11.4B; Q1 EPS $0.67

ADVANCE AUTO PARTS INC

2024-Q1 EPS reported $0.67 revenue$3,406,254,000

Q1 net sales $3.4B (-0.3% YoY); comparable store sales -0.2%; diluted EPS $0.67 vs $0.81.
Gross margin down 82bps to 42.0%; SG&A improved to 39.4% from 39.9% on cost controls.
Full year 2024 guidance corrected: net sales high end lowered to $11.4B (from $11.5B); EPS $3.75-$4.25.
Free cash flow improved to -$46.3M vs -$472.5M; operating cash flow $2.7M vs -$382.5M.
Dividend declared $0.25/share, payable July 26; progressing on Worldpac sale and supply chain consolidation.

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