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Advanced Auto Parts CEO: "“While the industry experienced a slower start to 2024 compared with our expectations, the actions we began in the back half of last year will help us streamline our operations for the long term $AAP: +2.9% PM https://t.co/VQSd5E2NvO
$AAP Earnings: - First quarter 2024 net sales totaled $3.4 billion, a 0.3% decrease compared with the first quarter of the prior year. Comparable store sales decreased 0.2%. - Operating income was $86.0 million, or 2.5% of net sales, compared with 2.9% in the first quarter of… https://t.co/HaOtAPqNE2
Advance Auto Parts Reports First Quarter 2024 Results https://t.co/nShxr1JwNO https://t.co/UVsxSsSfb2
Advance Auto Parts (NYSE: AAP) has released its first quarter 2024 earnings report. The company reported net sales of $3.4 billion, reflecting a 0.3% decrease compared to the same period last year. Comparable store sales also saw a slight decline of 0.2%. Operating income for the quarter was $86.0 million, representing 2.5% of net sales, down from 2.9% in the prior year. Analysts had forecasted Q1 earnings of 70 cents per share on $3.43 billion in revenue, with revised expectations. The company's CEO noted that while the industry experienced a slower start to 2024, actions taken in the latter half of the previous year are expected to streamline operations for the long term.
