Auto part retailer, Advance Auto Parts, Inc.(AAP) reported a drop in earnings for the fourth quarter, beating estimates on Thursday.
The Roanoke, VA based company reported fourth quarter net income of $65.05 million, or 88 cents per share, down -2% from $66.43 million, or 90 cents per share last year. On average, analysts expected to see earnings of 76 cents per share.
Revenue for the quarter was $1.329 billion, up from $1.327 billion last year. Analysts estimated revenue of $1.33 billion.
CFO Mike Norona commented, “our 2013 annual operating EPS outlook will be in the range of $5.45 to $5.60 per share excluding one-time integration costs for BWP of approximately $0.15 to $.20 per share. On a reported basis, including the BWP one-time integration costs, our EPS outlook is expected to be $5.30 to $5.45.”
Looking ahead, the company sees FY2013 earnings in the range of $5.45 per share to $5.50 per share. Analysts are expecting to see EPS of $5.58.
Advance Auto Parts shares were up $5.00, or 6.86% during Thursday morning trading. The stock has been mostly flat in the past year.
The Bottom Line
Shares of Advance Auto Parts, Inc.(AAP) have a 0.31% yield, based on Thursday morning’s price of $78.68.
Advance Auto Parts, Inc.(AAP) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.