Advance Auto Parts Reports 36% Drop In Q1 Bottom Line

(RTTNews) - Advance Auto Parts (AAP) reported earnings for first quarter that declined compared to the same period last year.

The company said its profit fell to $118.36 million, or $1.60 per share. This was lower than $186.10 million, or $2.51 per share, in last year's first quarter.

Analysts had expected the company to earn $2.18 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 3.0% to $2.89 billion. This was down from $2.98 billion last year.

Advance Auto Parts earnings at a glance:

-Earnings (Q1): $118.36 Mln. vs. $186.10 Mln. last year. -Earnings Decline (Y-o-Y): -36.4% -EPS (Q1): $1.60 vs. $2.51 last year. -EPS Decline (Y-o-Y): -36.3% -Analysts Estimate: $2.18 -Revenue (Q1): $2.89 Bln vs. $2.98 Bln last year. -Revenue Change (Y-o-Y): -3.0%