As auto parts retailer stocks’ Q3 earnings season wraps, let's dig into this quarter's best and worst performers, including Advance Auto Parts (NYSE:AAP) and its peers.
Cars are complex machines that need maintenance and occasional repairs, and auto parts retailers cater to the professional mechanic as well as the do-it-yourself (DIY) fixer. Work on cars may entail replacing fluids, parts, or accessories, and these stores have the parts and accessories or these jobs. While e-commerce competition presents a risk, these stores have a leg up due to the combination of broad and deep selection as well as expertise provided by sales associates. Another change on the horizon could be the increasing penetration of electric vehicles. Conveyor Roller
The 5 auto parts retailer stocks we track reported a mixed Q3; on average, revenues were in line with analyst consensus estimates Stocks have faced challenges as investors prioritize near-term cash flows, but auto parts retailer stocks held their ground better than others, with the share prices up 8% on average since the previous earnings results.
Founded in Virginia in 1932, Advance Auto Parts (NYSE:AAP) is an auto parts and accessories retailer that sells everything from carburetors to motor oil to car floor mats.
Advance Auto Parts reported revenues of $2.72 billion, up 2.9% year on year, topping analyst expectations by 1.6%. It was a weak quarter for the company, with underwhelming earnings guidance for the full year.
“Since joining Advance, I have partnered with the board and management team to move with speed in conducting a comprehensive review of the business,” said Shane O'Kelly, president and chief executive officer.
Advance Auto Parts delivered the weakest full-year guidance update of the whole group. The stock is up 14.6% since the results and currently trades at $66.96.
Read our full report on Advance Auto Parts here, it's free.
Serving both the DIY customer and professional mechanic, O’Reilly Automotive (NASDAQ:ORLY) is an auto parts and accessories retailer that sells everything from fuel pumps to car air fresheners to mufflers.
Conveyor Roller Frame/Bracket O'Reilly reported revenues of $4.20 billion, up 10.7% year on year, outperforming analyst expectations by 2.9%. It was a solid quarter for the company, with a decent beat of analysts' revenue es