RALEIGH, N.C. (AP) — RALEIGH, N.C. (AP) — Advance Auto Parts Inc. (AAP) on Thursday reported second-quarter net income of $55 million.
The Raleigh, North Carolina-based company said it had profit of 90 cents per share. Earnings, adjusted for asset impairment costs and restructuring costs, were $1.03 per share.
The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 81 cents per share.
The auto parts retailer posted revenue of $2 billion in the period, which fell short of Street forecasts. Eight analysts surveyed by Zacks expected $2.03 billion.
Advance Auto Parts expects full-year earnings in the range of $2.60 to $3.30 per share, with revenue in the range of $8.49 billion to $8.57 billion.
Advance Auto Parts shares have climbed 43% since the beginning of the year. The stock has decreased slightly in the last 12 months.
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