advance auto parts jumps on earnings beat despite soft comps guidance
Shares of the auto parts company rose 4% on Tuesday, although the company also provided full revenue and revenue estimatesyearsame-
Store sales growth below analysts\' expectations.
The company said it expected the same
Store sales grew between 1% and 2.
In 2019, it was 5%, some of which was lower than analysts\' estimate of 2% comp growth.
Fourth company report
Net income for the quarter was $53.
4 million, the third of less than $184.
5 million was reported a year ago. Earnings of $1.
$17 per share, exceeding the consensus expectation of $1 for FactSet. 13. Sales rose 3. 3% to $2.
11 billion, in line with analyst expectations. Same-
Store sales increased by 3 this quarter. 4%.
\"When we end the second year of the transformation agenda, I am proud to report on comp sales and adjusted revenue growth for another quarter, with almost every indicator having a sustained, balanced
The dedication of our entire team is obvious as they focus on pleasing customers and developing top-tier customers
Although line is disciplined in controlling costs to achieve profit expansion, \"said President and CEO Tom Graco.