Advance Auto Parts, Inc. (AAP), the largest automotive aftermarket parts provider in North America, reported second-quarter net income of $150.0 million or $2.03 per share, compared to $139.5 million or $1.89 per share, prior year.
Comparable cash earnings per share was $2.27, up 9.1% from $2.08 per share in the second quarter last year. On average, 20 analysts polled by Thomson Reuters expected the company to report profit per share of $2.25 for the quarter. Analysts' estimates typically exclude special items.
Total sales increased 1.0% to $2.37 billion from $2.35 billion in the comparable quarter last year, while 15 analysts expected revenue of $2.38 billion for the quarter.
The company said its sales increase was driven by the addition of new stores over the past 12 months and a comparable store sales increase of 1.0% partially offset by changes in our independent store count. Comparable store sales were negatively impacted by 34 basis points due to foreign currency fluctuations from its Canadian operations.
Advance Auto Parts is maintaining its full year guidance for comparable cash earnings per share of $8.10 to $8.30. Analysts expect the company to report full year earnings per share of $8.26.
On August 12, 2015, the company's Board declared a regular quarterly cash dividend of $0.06 per share to be paid on October 2, 2015 to stockholders of record as of September 18, 2015.
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