Advance Auto beats by $0.14, misses on revs' Q1 comps -0.8%
- Reports Q1 (Mar) earnings of $2.10 per share, excluding non-recurring items, $0.14 better thanthe Capital IQ Consensus of $1.96; revenues fell 0.6% year/year to $2.87 bln vs the $2.91 bln Capital IQ Consensus.
- Comparable store sales for the first quarter decreased 0.8%. The Company's Gross Profit margin increased 32 basis points in the first quarter to 44.3% from 44.0% in the first quarter of the prior year. The increase was primarily driven by a reduction in material costs and related items.