Advance Auto Parts Inc., headquartered in Raleigh, North Carolina, released its second‑quarter earnings on Thursday. The auto‑parts retailer reported a net income of $55 million for the period, translating to earnings of 90 cents per share.

Adjusted earnings exceed expectations

When adjusted for asset impairment and restructuring costs, the company’s earnings rose to $1.03 per share. Analysts surveyed by Zacks Investment Research had projected earnings of 81 cents per share, meaning Advance Auto Parts outperformed the consensus estimate.

Revenue slightly below forecasts

Revenue for the quarter reached $2 billion, falling short of the $2.03 billion expected by eight analysts in the Zacks survey. Despite the modest revenue miss, the earnings beat was enough to satisfy investors.

Guidance for the full year

Looking ahead, Advance Auto Parts forecast full‑year earnings in the range of $2.60 to $3.30 per share. The company also expects total revenue between $8.49 billion and $8.57 billion for the year.

Share performance

Since the beginning of the year, Advance Auto Parts’ stock has climbed 43%, although it has slipped slightly over the past 12 months. The strong earnings report may help sustain the upward momentum.

Local impact

As a major employer in the Raleigh area, the company’s performance has implications for the local economy. Continued profitability supports job stability and potential future expansion of its distribution network in North Carolina.

Advance Auto Parts’ earnings release was generated by Automated Insights using data from Zacks Investment Research.

Original reporting: Alexandria, VA News – WTOP News — read the source article.