Advance Auto Parts Beats Estimates, Home Depot Reported Strong Results

Mukesh Buch
13 Nov, 2018
New York City

Advance Auto Parts beats earnings estimates and the retailer lifted fiscal outlook. Home Depot reported better-than-expected results. JetBlue Airways said traffic in October soared. Tyson Foods plunged on weak revenues and forecast.

[R]1:45 AM New York City, New York – Advance Auto Parts beats earnings estimates and the retailer lifted fiscal outlook. Home Depot reported better-than-expected results. JetBlue Airways said traffic in October soared. Tyson Foods plunged on weak revenues and forecast.[/R]

Tollbooth Index edged down 20.14 to 15,269.81 but for the year-to-date soared 10.9%.

Earnings Review

Advance Auto Parts Inc ((AAP)) surged 8.9% or $14.96 to $181.94 after the auto parts retailer reported net sales in the third-quarter ending in September jumped 4.3% from a year ago to $2.3 billion.

Comparable store sales in the quarter advanced 4.6%.

Net income in the quarter soared 20.6% to $115.8 million or $1.56 per diluted share from $96 million or $1.30 in the same quarter last year.

The auto parts retailer lifted fiscal 2018 net sales forecast to between $9.55 billion and $9.60 billion from the earlier estimate of $9.3 billion to $9.5 billion and comparable store sales in the range of 2% to 2.5% from the earlier estimate of flat to 1.5% and

The Home Depot Inc ((HD)) dropped 2.9% or $5.28 to $174.15 after the home improvement specialty retailer reported sales in the third-quarter ending on October 28 soared 5.1% from a year ago to $26.3 billion.

Comparable store sales in the quarter jumped 4.8% and comparable store sales in the U.S. advanced 5.4%.

Net income in the quarter surged 31.8% to $2.9 billion or $2.51 per diluted share from $2.2 billion or $1.84 in the same quarter last year.

Home Depot forecasted fiscal 2018 sales growth of 7.2%, comparable store sales growth of 5.5% and operating margin of about 14.5% and diluted earnings per share growth of 33.8% from $9.75 in a year ago period.

JetBlue Airways Corp ((JBLU)) advanced 1.6% or 28 cents to $18.27 after the airline operator said traffic in October soared 9.5% from a year ago month and capacity soared 8.9%.

Revenues per passenger jumped 6.5% to 3.37 million and load factor increased 0.5 percentage points to 82.9%.

Tyson Foods, Inc ((TSN)) plunged 6.6% or $4.05 to $57.56 after the chicken, beef and pork food processor sales in the fourth-quarter ending in September fell 1% from a year ago to $10 billion.

Net income in the quarter jumped 35.9% to $537 million or $1.47 per diluted share from $394 million or $1.07 in the same quarter last year.

Tyson Foods forecasted fiscal 2019 sales of about $41 billion and diluted earnings per share in the range of $5.75 to $6.10.