RALEIGH, N.C. (AP) — RALEIGH, N.C. (AP) — Advance Auto Parts Inc. (AAP) on Thursday reported a loss of $6 million in its third quarter.
On a per-share basis, the Raleigh, North Carolina-based company said it had a loss of 10 cents. Losses, adjusted for one-time gains and costs, came to 4 cents per share.
The results did not meet Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share.
The auto parts retailer posted revenue of $2.15 billion in the period, also missing Street forecasts. Eight analysts surveyed by Zacks expected $2.67 billion.
Advance Auto Parts expects full-year revenue of $9 billion.
Advance Auto Parts shares have declined 33% since the beginning of the year. The stock has declined 27% in the last 12 months.
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