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LKQ Corporation to Release Fourth Quarter and Full Year 2019 Results on Thursday, February 20, 2020
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By AutoZone
MEMPHIS, Tenn. , Aug. 28, 2024 (GLOBE NEWSWIRE) -- AutoZone, Inc. (NYSE: AZO), the leading retailer and distributor of automotive replacement parts and accessories in the Americas , will release results for its fourth quarter ended Saturday, August 31, 2024 , before market open on Tuesday,
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By Advance Auto Parts
RALEIGH, N.C.--(BUSINESS WIRE)-- Advance Auto Parts, Inc. (NYSE: AAP), a leading automotive aftermarket parts provider in North America that serves both professional installer and do-it-yourself customers, announced its financial results for the second quarter ended July 13, 2024.
“Our team delivered positive comparable sales growth while navigating a challenging demand environment during the second quarter. I would like to thank the team for their hard work and dedication to serving our customers,” said Shane O’Kelly, president and chief executive officer. “We continue to make progress on our decisive actions with an increased focus on the Advance blended box. This morning, we announced the sale of Worldpac for $1.5 billion. This transaction is a critical milestone in our turnaround as it enables us to strengthen our balance sheet and streamline our focus. The next chapter of our strategic and operational review will now focus on the remaining Advance business, with the goal of improving our sales trajectory and the productivity of all our assets to deliver stronger returns for our shareholders.”
Second Quarter 2024 Results (1,2)
Second quarter 2024 net sales totaled $2.7 billion, which was flat compared with the second quarter of the prior year. Comparable store sales increased 0.4%.
The company's gross profit decreased 2.3% to $1.1 billion. Gross profit margin was 41.5% compared with 42.5% in the second quarter of the prior year. This was primarily due to the company's strategic pricing investments and higher product costs.
SG&A expenses were $1.0 billion, or 38.9% of net sales compared with 37.8% in the second quarter of 2023. This increase was primarily due to wage investments in frontline team members and an increase in professional fees, including costs associated with the implementation of the company's strategic plan and the remediation of the company’s previously-disclosed material weaknesses. This was partially offset by a reduction in marketing expenses.
The company's operating income was $71.8 million, or 2.7% of net sales compared with 4.7% in the second quarter of 2023.
The company's effective tax rate was 27.5%, compared with 26.4% in the second quarter of 2023. The company's diluted EPS was $0.75, compared with $1.32 in the second quarter of 2023.
Net cash provided by operating activities was $87.8 million through the second quarter of 2024 versus $167.1 million of cash used in operating activities in the same period of the prior year. Free cash flow through the second quarter of 2024 was an outflow of $4.6 million compared with an outflow of $312.0 million in the same period of the prior year.
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By Advance Auto Parts
RALEIGH, N.C.--(BUSINESS WIRE)-- Advance Auto Parts, Inc. (NYSE: AAP), a leading automotive aftermarket parts provider in North America that serves both professional installers and do-it-yourself customers, will report its second quarter 2024 results before the market opens on Thursday, August 22, 2024. Interested parties can listen to the event via a webcast scheduled to begin at 8:00 a.m. Eastern Time on Thursday, August 22, 2024. The webcast will be accessible via the company’s Investor Relations website (
link hidden, please login to view ). To join by phone, please
link hidden, please login to view online for dial-in and passcode information. Upon registering, participants will receive a confirmation with call details and a registrant ID. While registration is open through the live call, the company suggests registering a day in advance or at minimum 10 minutes before the start of the call. A replay of the conference call will be available on the company’s Investor Relations website for one year. About Advance Auto Parts
Advance Auto Parts, Inc. is a leading automotive aftermarket parts provider that serves both professional installer and do-it-yourself customers. As of April 20, 2024, Advance operated 4,777 stores and 320 Worldpac branches primarily within the United States, with additional locations in Canada, Puerto Rico and the U.S. Virgin Islands. The company also served 1,152 independently owned Carquest branded stores across these locations in addition to Mexico and various Caribbean islands. Additional information about Advance, including employment opportunities, customer services, and online shopping for parts, accessories and other offerings can be found at
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By Counterman
link hidden, please login to view and link hidden, please login to viewhave declared Avery Breneman of Blackfoot, ID, the 2024 Technician of the Year. Breneman is the owner of Avery’s Auto Repair, a Bumper to Bumper Certified Service Center and customer of NPW Companies. Breneman was named the winner during Auto Value and Bumper to Bumper’s Technician of the Year program in Detroit, Michigan, this July. “This recognition is humbling. I deeply appreciate the experience and I am proud to be the 2024 Technician of the Year Champion. The support from Auto Value and Bumper to Bumper has been incredible. I want to thank NPW and our sales rep, Hoss Prestwich, for encouraging me to compete,” said Breneman.
Sixteen top technicians from across the United States and Canada traveled to Detroit to participate in the 2024 Auto Value and Bumper to Bumper Technician of the Year finalist competition. Sponsored by DRiV and Garage Gurus, the annual competition included a custom Automotive Service Excellence examination as well as a series of Garage Gurus’ hands-on skills tests.
“With over 3,700 Certified Service Centers within the Auto Value & Bumper to Bumper network, becoming a technician of the year finalist is no easy task,” said JC Washbish, president at the Aftermarket Auto Parts Alliance, Inc. “The goal of this program is to recognize top technician talent within the industry, bring honor to the trades, and highlight the skills required to be a top tech. This year’s competition did not disappoint. We had a wonderful group of Auto Value and Bumper to Bumper technicians! We’d like to thank DRiV and Garage Gurus for their continued support of this fantastic event.”
The technician finalists were treated to a variety of entertainment and experiences in Metro Detroit including a day at the Henry Ford Museum and Greenfield Village, a tour of the Ford Rouge Factory, racing at the Champion® Motor Speedway in the M1 Concourse and the luxury of a suite at Comerica Park for a Detroit Tigers’ game.
“For Auto Value and Bumper to Bumper to once again partner with Garage Gurus on the technician of the year event is fantastic. The opportunity for our team to interact with top technicians from the certified service center network while representing our Champion, Fel-Pro, Moog, Monroe, Walker, Wagner and Garage Gurus brands is special,” said Mike Hinderer, technical product specialist field manager with Garage Gurus. “To the professional technicians in the industry, we are here, we see you and we support you.”
DRiV and Garage Gurus have been the host sponsor of the Auto Value and Bumper to Bumper Technician of the Year event since 2019.
“Our team at DRiV is very proud of our continued sponsorship and support of the Auto Value and Bumper to Bumper Technician of the Year program,” says Tony Genna, vice president North America sales at DRiV. “Hosting these extremely talented technicians from across North America is really something special and we are always appreciative of our time together. A program like this is important for our industry and no one does it better than the team at Auto Value and Bumper to Bumper.”
The 2024 Auto Value and Bumper to Bumper Technician of the Year Finalists include:
Scott Anderson; Canyon Meadows Auto Repair; Calgary, Alberta, Canada; Central Auto Parts Sean Blakeley; First Choice Automotive Repair; Killeen, TX; 4M Parts Warehouse Rafael Borja; Robertson Automotive; Tyler, TX; ABC Auto Parts Avery Breneman; Avery Auto; Blackfoot, ID; National Performance Warehouse Jeremiah Clark; Clarks Auto Repair and Service; Pleasureville, KY; Moog Louisville Warehouse Bim Gill; Gills Service Center; Harpersville, AL; National Performance Warehouse Michael Golda; Kerners Auto Service; Shelby Township, MI; Auto-Wares Group of Companies Jake Fehr; Chad’s Auto Repair Shop; Winkler, Manitoba, Canada; Piston Ring Service John Kincaid; Grainger Automotive; Bean Station, TN; Hahn Automotive Warehouse Brandon Osman; Square Deal Garage; Pinole, CA; Trimon, Inc. Mike Powers; Joe’s Garage; North Little Rock, AR; Parts Warehouse, Inc. Ryan Radtke; Village Mobil; Waunakee, WI; Automotive Parts Headquarters Inc. Matthew Reitmeier; Travel Care Regina Ltd; Regina, Saskatchewan, Canada; Auto Electric Service Rob Richardson; Maclane’s Automotive; Downingtown, PA; Eastern Warehouse Distributor, LLC Stephen “Chris” Scott; Accelerated Auto Service; Bennington, NE; The Merrill Company Doug Smith; Telle Tire and Automotive; St. Louis, MO; All Car Automotive Warehouse, Inc. The post
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