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Jan 01, 2022
Advance Auto Parts Q4 2021 Earnings Report
Advance Auto Parts reported a strong fourth quarter and a record full year in 2021.
Key Takeaways
Advance Auto Parts reported a 1.3% increase in net sales to $2.4 billion for the fourth quarter of 2021. Comparable store sales growth was 8.2%. The company's adjusted diluted EPS was $2.07, an increase of 35.4% compared to the prior year. The company is introducing full year 2022 guidance.
Net sales totaled $2.4 billion, a 1.3% increase compared with the fourth quarter of the prior year.
Comparable store sales growth for the fourth quarter 2021 was 8.2%.
Adjusted gross profit increased 12.1% from the comparative 12 weeks in the fourth quarter of 2020 to $1.1 billion in the fourth quarter of 2021.
Adjusted diluted EPS was $2.07 in the fourth quarter of 2021, an increase of 35.4% compared with the comparative 12 weeks in the same quarter of the prior year.
Forward Guidance
Full Year 2022 Guidance: Net sales between $11.2 billion and $11.5 billion, comparable store sales growth between 1.0% and 3.0%, adjusted operating income margin between 10.0% and 10.2%, adjusted diluted EPS between $13.20 and $13.75, capital expenditures between $300 million and $350 million, minimum free cash flow of $775 million, and share repurchases between $500 million and $700 million.
Positive Outlook
- Net sales between $11,200 million and $11,500 million
- Comparable store sales between 1.0% and 3.0%
- Adjusted operating income margin between 10.0% and 10.2%
- Income tax rate between 24.0% and 26.0%
- Adjusted diluted EPS between $13.20 and $13.75
Challenges Ahead
- Capital expenditures between $300 million and $350 million
- Minimum free cash flow of $775 million
- Share repurchases between $500 million and $700 million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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