Advance Auto Parts Inc. (NYSE:AAP) posted better-than-expected earnings for the second quarter on Thursday.
The company reported second-quarter adjusted earnings per share of 69 cents, beating analysts’ consensus estimate of 57 cents. Quarterly sales of $2.01 billion outpaced the Street view of $1.978 billion. Comparable store sales for the second quarter increased 0.1%.
“Our comparable sales performance was fueled by growth in the Pro business, and we are encouraged by the early signs of stabilization in our DIY business,” said Shane O’Kelly, president and chief executive officer.
Advance Auto Parts cut its FY25 adjusted EPS outlook to $1.20–$2.20 from $1.50–$2.50, …