A month has gone by since the last earnings report for Advance Auto Parts (AAP). Shares have lost about 3.8% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Advance Auto Parts due for a breakout? Before we dive into how investors and analysts have reacted as of late, let’s take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
Advance Auto Parts’ Q2 Earnings & Sales Rise Y/Y
Advance Auto Parts reported adjusted earnings of $2.92 per share in second-quarter 2020 (ended Jul 11, 2020), up 46% from the prior-year number. The earnings figure also beat the Zacks Consensus Estimate of $1.97.
Advance Auto Parts generated net revenues of $2,501 million, beating the Zacks Consensus Estimate of $2,360 million. The revenue figure also rose