=Advance Auto (AAP) reported earnings on Tue 14 Aug 2018 (b/o)

Advance Auto beats by $0.11, beats on revs; raises FY18 rev guidance; Q2 comps +2.8% 

• Reports Q2 (Jun) earnings of $1.97 per share, $0.11 better than the Capital IQ Consensus of $1.86; revenues rose 2.8% year/year to $2.33 bln vs the $2.26 bln Capital IQ Consensus. Comparable store sales for the second quarter of 2018 increased 2.8%.
• Co issues raised guidancefor FY18, sees FY18 revs of $9.3-9.5 bln vs. $9.38 bln Capital IQ Consensus Estimate. Co raises FY18 comps of 0.0-1.5% from (2.0%) - 0.0% prior.
• On August 8, 2018, the Company's Board of Directors authorized a $600 million share repurchase program. This new authorization replaces the Company's $500 million share repurchase program authorized in May 2012, which had $415 million remaining.