Advance Auto Parts Reports a 42.76% Decrease in Profit for Q2 Earnings Period
Advance Auto Parts Sees 0.11% Revenue Dip in the Second Quarter of 2024
Advance Auto Parts, Inc. [AAP] reported a net profit of $44,991 for the second quarter ending in 2024. This figure reflects a decrease from the previous quarter's profit, with the financial results announced for the period ended July 13, 2024.
The company, headquartered in Raleigh, N.C., reported to SEC in an 8-K filing $0.75 earnings per share in the quarter, compared to $1.32 in the previous quarter.
Advance Auto Parts, a leading provider in the automotive aftermarket parts sector, reported a revenue of $2.68 billion for the current period. This represents a slight decrease of 0.11% compared to the revenue in the previous quarter, reflecting the company's performance in the industry.
In comparison to the same quarter of the previous year, Advance Auto Parts experienced a significant decline in revenue, with a decrease of 55.89%. Additionally, the company saw a notable decrease of 64.53% in net profit in the current quarter when compared to the same quarter of the previous year.
As of August 20, 2024 end of day trading.
