Advance Auto Parts tops 3Q profit forecasts

ROANOKE, Va. (AP) _ Advance Auto Parts Inc. (AAP) on Tuesday reported third-quarter earnings of $96 million.

The Roanoke, Virginia-based company said it had profit of $1.30 per share. Earnings, adjusted for one-time gains and costs, were $1.43 per share.

The results exceeded Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.20 per share.

The auto parts retailer posted revenue of $2.18 billion in the period, missing Street forecasts. Nine analysts surveyed by Zacks expected $2.21 billion.

Advance Auto Parts shares have fallen 51 percent since the beginning of the year. The stock has declined 43 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AAP at https://www.zacks.com/ap/AAP