Advance Auto Parts: Q3 Earnings Snapshot

RALEIGH, N.C. (AP) — RALEIGH, N.C. (AP) — Advance Auto Parts Inc. (AAP) on Thursday reported third-quarter net income of $15 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Raleigh, North Carolina-based company said it had net income of 25 cents. Earnings, adjusted for asset impairment costs and restructuring costs, were 79 cents per share.

The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 77 cents per share.

The auto parts retailer posted revenue of $2.01 billion in the period, missing Street forecasts. Eight analysts surveyed by Zacks expected $2.04 billion.

Advance Auto Parts expects full-year earnings in the range of $2.75 to $3.10 per share, with revenue expected to be $8.5 billion.

Advance Auto Parts shares have risen 29% since the beginning of the year. The stock has risen 5.5% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AAP at https://www.zacks.com/ap/AAP