Advance Auto Parts Stock Sinks on Soft Q1 Sales Projections | Global News Avenue

In advance car parts (AAP) Stocks sank Wednesday, surpassing the steady results in the fourth quarter after auto retailers’ sales forecasts were low in the first quarter.

The company reported sales in the last quarter of 2024 were $20 billion, a slight decrease in year-on-year decline, but much better than the analysts that are visible Alpha expectation. Advance Auto Parts Record Adjusted Loss of Adjusted $1.18 per share Comparable store sales It fell by 1%, and both are better than consensus.

Retailers’ current quarterly forecasts are lower than expected. Advance Auto Parts sold about $2.5 billion, with sales of about 2%, while analysts expect a decline of $2.61 billion and 0.51% respectively.

JPM Call Report “Mixed Bag” with “More Left Half” for 2025

In a comment after the report, JPMorgan analysts said the results and predictions were equivalent to “a mixed bag with low visibility and weighted second-half level.”

Last November, Advance Auto Parts Announced a turnaround plan These include the closure of more than 700 company-owned and independent stores.

On Wednesday, stocks in pre-auto parts fell nearly 13%, losing about a third of their value in the past year, hovering over a decade-plus low.