Advance Auto Parts Raises 2021 Guidance; Q2 Comps. Up 5.8% - Quick Facts

(RTTNews) - Advance Auto Parts, Inc. (AAP) said its second-quarter adjusted earnings per share increased 15.3% year-on-year, and adjusted operating income margin expanded 11 basis points to 11.4%. The company delivered a 5.8% increase in comparable store sales led by a strong recovery in the professional business. For full year 2021, the company updated its financial guidance to reflect the positive first-half results.

For full year 2021, the company now expects comparable store sales in a range of 6.0% to 8.0%, revised from prior guidance of 4.0% to 6.0%. Adjusted operating income margin is now expected to be 9.2% to 9.4%, revised from prior outlook of 9.0% to 9.2%. Net sales are anticipated to be $10.60 billion to $10.80 billion, updated from previous guidance of $10.40 billion to $10.60 billion. Analysts polled by Thomson Reuters expect the company to report revenue of $10.66 billion. Analysts' estimates typically exclude special items.

Second-quarter adjusted EPS increased 15.3% to $3.40. On average, 19 analysts polled by Thomson Reuters expected the company to report profit per share of $3.03, for the quarter. Analysts' estimates typically exclude special items. On a GAAP basis, EPS was $2.74, flat with last year.

Second-quarter net sales were up 5.9% to $2.65 billion. Analysts expected revenue of $2.62 billion, for the quarter.