Advance Auto Parts Q2 2020 Earnings Report
Key Takeaways
Advance Auto Parts reported a strong second quarter with net sales of $2.5 billion, a 7.3% increase year-over-year, and comparable store sales increased by 7.5%. The company's operating income margin increased by 319 basis points, and diluted EPS increased by 58.4% to $2.74.
Net sales increased 7.3% to $2.5 billion; Comparable store sales increased 7.5%.
Operating income increased 53.9% to $262.8 million; Operating income margin expanded 319 basis points to 10.5%.
Adjusted operating income increased 42.2% to $279.3 million; Adjusted operating income margin expanded 274 basis points to 11.2%.
Diluted EPS increased 58.4% to $2.74; Adjusted Diluted EPS increased 46.0% to $2.92.
Advance Auto Parts
Advance Auto Parts
Forward Guidance
The Company withdrew guidance on April 9, 2020, given uncertainties related to the full impact of the COVID-19 pandemic. At this time, the Company is not providing guidance, however, remains committed to maintaining liquidity to meet the needs of the business and return cash to shareholders.