Auto part retailer, Advance Auto Parts, Inc.(AAP) reported a drop in earnings for the fourth quarter, beating estimates on Thursday.
The Roanoke, VA based company reported fourth quarter net income of $65.05 million, or 88 cents per share, down -2% from $66.43 million, or 90 cents per share last year. On average, analysts expected to see earnings of 76 cents per share.
Revenue for the quarter was $1.329 billion, up from $1.327 billion last year. Analysts estimated revenue of $1.33 billion.
CFO Mike Norona commented, “our 2013 annual operating EPS outlook will be in the range of $5.45 to $5.60 per share excluding one-time integration costs for BWP of approximately $0.15 to $.20 per share. On a reported basis, including the BWP one-time integration costs, our EPS outlook is expected to be $5.30 to $5.45.”
Looking ahead, the company sees FY2013 earnings in the range of $5.45 per share to $5.50 per share. Analysts are expecting to see EPS of $5.58.
Advance Auto Parts shares were up $5.00, or 6.86% during Thursday morning trading. The stock has been mostly flat in the past year.
The Bottom Line
Shares of Advance Auto Parts, Inc.(AAP) have a 0.31% yield, based on Thursday morning’s price of $78.68.
Advance Auto Parts, Inc.(AAP) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Press Release Service provided by PRConnect.
Stock quotes supplied by Telekurs USA
Postage Rates Bots go here