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Oct 09, 2021
Advance Auto Parts Q3 2021 Earnings Report
Delivered improved top-line growth and margin expansion.
Key Takeaways
Advance Auto Parts reported a 3.1% increase in net sales to $2.6 billion and a 3.1% increase in comparable store sales. Diluted EPS increased 25.8% to $2.68, and adjusted diluted EPS increased 21.6% to $3.21.
Net sales increased 3.1% to $2.6 billion.
Comparable store sales increased 3.1%.
Diluted EPS increased 25.8% to $2.68; Adjusted Diluted EPS increased 21.6% to $3.21.
Free cash flow increased to $734.0 million.
Forward Guidance
The company is increasing its full-year 2021 sales and profit guidance to reflect the positive results year-to-date and expectations for the balance of the year.
Positive Outlook
- Continued top-line strength
- Higher than planned inflation headwinds
- Remain committed to the successful conversion of California locations
- Confident once completed will be highly accretive to our growth trajectory
- Positive sales trends during the first four weeks of our fourth quarter
Challenges Ahead
- Challenging construction environment in California
- Primarily related to the ongoing pandemic
- Higher than planned inflation headwinds
- Labor shortages or disruptions and the impact on our ability to complete store openings
Historical Earnings Impact
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Avg. Return Before/After Earnings
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