Advance Auto Parts Q3 EPS Rises, Backs FY13 Outlook - Quick Facts

(RTTNews) - Advance Auto Parts Inc. (AAP) announced an increase in third quarter net income to $103.83 from $89.50 million last year. Earnings per share rose to $1.42 from $1.22 a year ago. The current quarter results includes $0.04 of transaction expenses on pending acquisition of General Parts International, Inc. and $0.02 of integration expenses for B.W.P. Distributors, Inc.

On average, 11 analysts polled by Thomson Reuters expected earnings per share of $1.40 for the quarter. Analysts' estimates typically exclude one-time items.

Net sales for the quartere were $1.52 billion, in comparison with $1.46 billion in the previous year.

The company said it expects softer sales environment to continue in the fourth quarter and annual 2013 comparable store sales to be in the low negative single digits. Further, Advance Auto parts reaffirmed its annual 2013 earnings per share outlook to be in the range of $5.30 to $5.45, excluding all one-time costs incurred in the fourth quarter related to the General Parts acquisition. Analysts are looking for $5.52 per share on revenue of $6.49 billion.