RALEIGH, N.C. (AP) — RALEIGH, N.C. (AP) — Advance Auto Parts Inc. (AAP) on Wednesday reported a loss of $414.8 million in its fourth quarter.
On a per-share basis, the Raleigh, North Carolina-based company said it had a loss of $6.92. Losses, adjusted for one-time gains and costs, came to $1.18 per share.
The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for a loss of $1.38 per share.
The auto parts retailer posted revenue of $2 billion in the period, also beating Street forecasts. Nine analysts surveyed by Zacks expected $1.92 billion.
For the year, the company reported a loss of $335.8 million, or $5.61 per share, swinging to a loss in the period. Revenue was reported as $9.09 billion.
Advance Auto Parts expects full-year earnings in the range of $1.50 to $2.50 per share, with revenue in the range of $8.4 billion to $8.6 billion.
