Advance Auto Parts Inc. (AAP): New Analyst Report from Zacks Equity Research - Zacks Equity Research Report


Advance Auto Parts saw a 35.5% rise in adjusted comparable earnings to $2.25 per share in the first quarter of fiscal 2014 (ended April 19, 2014). Earnings also exceeded the Zacks Consensus Estimate by $0.09 per share. Revenues went up 47.3% year over year to $2.97 billion, marginally missing the Zacks Consensus Estimate of $2.99 billion. Sales benefited from the acquisition of General Parts, increase in comparable same-store sales and the net addition of new stores in the last 12 months. Advance Auto Parts increased its earnings expectation to $7.30 $7.50 per share for 2014. We have maintained a outperform recommendation on the company.


Advance Auto Parts, Inc. operates in the U.S. automotive aftermarket industry and is primarily engaged in selling replacement parts (excluding tires), accessories, maintenance items, batteries and maintenance items for cars, vans, sport utility vehicles and light trucks. It is the second leading retailer catering to the "do-it-yourself" or DIY and "do-it-for me" or DIFM (or Commercial) customers.

Advance Auto Parts operates under two reportable segments: Advance Auto Parts (AAP) and Autopart International (AI). The AAP segment consists of stores in the U.S., Puerto Rico, and the Virgin Islands under the trade names Advance Auto Parts and Advance Discount Auto Parts. The AI segment, an acquired business, operates as an independent and wholly owned subsidiary of the company. It provides automotive replacement parts to the DIFM market as well as to warehouse distributors and jobbers in the North American market.

As of Dec 28, 2013, Advance Auto Parts' total store count stood at 4,049, including 217 Autopart International stores.

More details will be provided following the release of 10K filing of Advance Auto Parts.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

This article appears in: Investing , Stocks

Referenced Stocks: AAP , AI

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