Advance Auto Parts (AAP) Down 3.8% Since Last Earnings Report: Can It Rebound?

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

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