RALEIGH, N.C. (AP) — RALEIGH, N.C. (AP) — Advance Auto Parts Inc. (AAP) on Friday reported fourth-quarter net income of $6 million, after reporting a loss in the same period a year earlier.
The Raleigh, North Carolina-based company said it had net income of 10 cents per share. Earnings, adjusted for one-time gains and costs, came to 86 cents per share.
The results beat Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 41 cents per share.
The auto parts retailer posted revenue of $1.97 billion in the period, also surpassing Street forecasts. Nine analysts surveyed by Zacks expected $1.95 billion.
For the year, the company reported net income of $44 million, or 73 cents per share, swinging to a profit in the period. Revenue was reported as $8.6 billion.
Advance Auto Parts expects full-year earnings in the range of $2.40 to $3.10 per share, with revenue in the range of $8.49 billion to $8.57 billion.
Advance Auto Parts shares have increased 48% since the beginning of the year. The stock has increased 23% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AAP at https://www.zacks.com/ap/AAP