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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
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 %
Historical Earnings Impact
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Avg. Return Before/After Earnings
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