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Apr 20, 2024
Advance Auto Parts Q1 2024 Earnings Report
Advance Auto Parts reported first quarter 2024 results.
Key Takeaways
Advance Auto Parts reported a slight decrease in net sales and comparable store sales for Q1 2024. The company is focused on streamlining operations and reducing costs.
Net sales totaled $3.4 billion, a 0.3% decrease compared to the prior year.
Comparable store sales decreased 0.2%.
Gross profit decreased 2.2% to $1.4 billion.
Diluted EPS was $0.67, compared to $0.81 in the first quarter of 2023.
Advance Auto Parts
Advance Auto Parts
Forward Guidance
Advance Auto Parts provided full year 2024 guidance, including net sales between $11.3 billion and $11.5 billion, comparable store sales growth between 0.0% and 1.0%, operating income margin between 3.2% and 3.5%, diluted EPS between $3.75 and $4.25, capital expenditures between $200 million and $250 million, and minimum free cash flow of $250 million.
Positive Outlook
- Net sales between $11.3 billion and $11.5 billion.
- Comparable store sales growth between 0.0% and 1.0%.
- Operating income margin between 3.2% and 3.5%.
- Diluted EPS between $3.75 and $4.25.
- Minimum free cash flow of $250 million.