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Jan 02, 2021
Advance Auto Parts Q4 2020 Earnings Report
Advance Auto Parts reported increased net sales and comparable store sales.
Key Takeaways
Advance Auto Parts reported a strong fourth quarter and full year 2020, with net sales reaching $2.4 billion for the quarter, a 12.0% increase, and comparable store sales increasing by 4.7%. Diluted EPS increased by 19.6% to $1.65, and adjusted diluted EPS increased by 14.0% to $1.87, including a $0.22 impact from COVID-19. The company also crossed $10B in annual net sales for the first time ever.
Net sales increased 12.0% to $2.4B; Comparable store sales increased 4.7%.
Operating income increased 20.4% to $151.8M.
Diluted EPS increased 19.6% to $1.65; Adjusted diluted EPS Increased 14.0% to $1.87 including $0.22 impact from COVID-19.
Returned $319.9M to shareholders through the Company's share repurchase program
Advance Auto Parts
Advance Auto Parts
Forward Guidance
The Company provided the following assumptions based on projections for the U.S. and guidance ranges related to its 2021 outlook:
Positive Outlook
- An increase in total vehicle miles driven in the U.S. from 2020 but to remain below 2019
- Consistent year-over-year federal tax rate
- No material increases in the federal minimum wage
- A reduction in COVID-19 related expenses
- Comparable store sales 1.0 % to 3.0 %