RALEIGH, N.C. (AP) — RALEIGH, N.C. (AP) — Advance Auto Parts Inc. (AAP) on Tuesday reported fourth-quarter profit of $106.7 million.
The Raleigh, North Carolina-based company said it had profit of $1.79 per share. Earnings, adjusted for one-time gains and costs, were $2.88 per share.
The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $2.41 per share.
The auto parts retailer posted revenue of $2.47 billion in the period, also beating Street forecasts. Nine analysts surveyed by Zacks expected $2.42 billion.
For the year, the company reported profit of $501.9 million, or $8.27 per share. Revenue was reported as $11.15 billion.
Advance Auto Parts expects full-year earnings to be $10.20 to $11.20 per share, with revenue in the range of $11.4 billion to $11.6 billion.
Advance Auto Parts shares have decreased slightly more than 4% since the beginning of the year. The stock has fallen 32% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AAP at https://www.zacks.com/ap/AAP
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