Advance Auto Parts Inc

AAP

Equity

ISIN US00751Y1064 / Valor 1331600

New York Stock Exchange, Inc (2024-12-26)

USD 44.24+1.17%

Advance Auto Parts Inc
UMushroom community rating:

0.00 0 votes No rating yet

NegativeNeutralPositive

About company

Advance Auto Parts, Inc. is a prominent provider in the automotive aftermarket parts industry, catering to a broad customer base that includes both professional installers and do-it-yourself enthusiasts. With a significant presence, the company operates stores and Worldpac branches across the United States, Canada, Puerto Rico, and the U.S. Virgin Islands. Beyond its own branded locations, Advance Auto Parts also supports a network of independently owned Carquest stores, extending its reach into Mexico and various Caribbean islands. The company's offerings encompass a wide range of automotive parts, accessories, and services, available both in-store and through its online platform, www.AdvanceAutoParts.com. This platform not only facilitates the retail of automotive components but also provides customer services and employment opportunities, underscoring the company's comprehensive approach to serving the automotive aftermarket sector.

Summarized from source with an LLMView SourceSector: Consumer Services

Net Sales

Advance Auto Parts Inc. reported net sales of $3.4 billion for the first quarter of 2024, reflecting a slight decrease of 0.3% compared to the same period in the previous year. This decline was attributed to a 0.2% drop in comparable store sales.

Gross Profit

The company's gross profit for the first quarter of 2024 was $1.4 billion, a decrease of 2.2% from the prior year. The gross profit margin also fell to 42.0%, down by 82 basis points, primarily due to increased costs that were not fully offset by pricing actions.

SG&A Expenses

Advance Auto Parts Inc. saw its SG&A expenses improve to 39.4% of net sales, down from 39.9% in the first quarter of 2023. This improvement was driven by cost control efforts, including reduced corporate expenditures and a significant reduction in marketing expenses.

Operating Income

The company's operating income for the first quarter of 2024 was $86.0 million, or 2.5% of net sales, compared to 2.9% in the same quarter of the previous year. The effective tax rate increased to 33.2% from 28.5%, influenced by a discrete charge for share-based compensation.

Dividends

On May 21, 2024, Advance Auto Parts Inc. declared a regular cash dividend of $0.25 per share, payable on July 26, 2024, to all common stockholders of record as of July 12, 2024. This reflects the company's ongoing commitment to returning value to its shareholders.

Summarized from source with an LLMView Source

Key figures

-27.4%1Y

-80.9%3Y

-72.2%5Y

Performance

46.6%1Y

46.5%3Y

43.4%5Y

Volatility