Advance Auto Parts Earnings/Sales

Advance Auto Parts reported EPS of 0.68 this morning, below Zack’s consensus of $0.70, and at the low end of management guidance for $0.68 to $0.71 The results included $0.03 impact from the new rule for stock option expensing. Adjusted for this expense, comparable earnings were up 11%. 2006 guidance was reiterated at $2.37 to $2.47 including $0.12 of annual stock-option expense. Although management indicated sales would need to improve for them to come in closer to the high end of the range.

Same-store sales in the quarter were up 3.9%, with DIY up 0.5% and commercial up 16.3%. The company continu ...