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NEW YORK -On Wednesday, Advance Auto Parts , Inc. (NYSE:AAP) the automotive parts retailer reported fourth quarter earnings and revenue that beat analyst expectations.
The result saw the company’s stock jump 7.17% in after-hours trading on Tuesday
The Raleigh, North Carolina-based company posted an adjusted loss per share of $1.18 for the fourth quarter, which was better than the $1.31 loss per share analysts were anticipating. Revenue came in at $2 billion, surpassing the consensus estimate of $1.93 billion.
"During 2024, we initiated transformative actions to reposition Advance for long-term success and value creation," said Shane O’Kelly, president and chief executive officer.
For the full year 2024, Advance Auto Parts reported net sales of $9.1 billion, down 1.2% compared to 2023. Comparable store sales decreased 0.7% for the year.
Looking ahead, the company provided guidance for fiscal year 2025, projecting earnings per share between $1.50 and $2.50 on revenue of $8.4 billion to $8.6 billion. The midpoint of the EPS guidance range is above the current analyst consensus of $1.56.
Advance Auto Parts also announced it will pay a quarterly cash dividend of $0.25 per share on April 25, 2025 to shareholders of record as of April 11, 2025.
The better-than-expected quarterly results and upbeat outlook appear to be driving the positive investor reaction in after-hours trading. The company’s turnaround efforts and strategic initiatives will be key to watch going forward as it aims to improve profitability and growth.
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