Advance Auto Parts Inc. (NYSE:AAP) stock surged Thursday after the company delivered stronger-than-expected quarterly results, driven by improving demand trends across both professional and do-it-yourself customers.
Management also pointed to gains from merchandising initiatives, stronger parts availability and customer engagement efforts, while signaling caution around consumer spending pressure, elevated gas prices and geopolitical uncertainty.
Something went wrong.
Quarterly Details
The company reported first-quarter adjusted earnings per share of 77 cents, beating the analyst consensus estimate of 45 cents. Quarterly sales of $2.614 billion outpaced the Street view of $2.579 billion.
