-=Advance Auto (AAP) reported earnings on Wed 31 May 23 (b/o)

 

Advance Auto misses by $1.84, reports revs in-line; guides FY23 EPS below consensus, revs below consensus

• Reports Q1 (Mar) earnings of $0.72 per share, $1.84 worse than the FactSet Consensus of $2.56; revenues rose 1.3% year/year to $3.42 bln vs the $3.43 bln FactSet Consensus.
  • Q1 Comparable store sales decreased 0.4%
• Co issues downside guidance for FY23, sees EPS of $6.00-6.50 vs. $10.62 FactSet Consensus; sees FY23 revs of $11.2-11.3 bln vs. $11.44 bln FactSet Consensus.
  • Co sees FY23 Comparable store sales of (1.0%)-0.0% from 1.0-3.0% prior
• Dividend reduction
  • On May 30, 2023, the company declared a cash dividend of $0.25 per share to be paid on July 28, 2023 to all common stockholders of record as of July 14, 2023. Co's prior dividend was $1.50 per share.