RALEIGH, N.C. (AP) — RALEIGH, N.C. (AP) — Advance Auto Parts Inc. (AAP) on Thursday reported a loss of $1 million in its third quarter.
On a per-share basis, the Raleigh, North Carolina-based company said it had a loss of 2 cents. Earnings, adjusted for non-recurring costs, were 92 cents per share.
The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 74 cents per share.
The auto parts retailer posted revenue of $2.04 billion in the period, also surpassing Street forecasts. Eight analysts surveyed by Zacks expected $2.01 billion.
Advance Auto Parts expects full-year earnings in the range of $1.75 to $1.85 per share, with revenue in the range of $8.55 billion to $8.6 billion.
Advance Auto Parts shares have climbed 17% since the beginning of the year. The stock has risen 54% 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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