Countdown to Advance Auto Parts (AAP) Q1 Earnings: A Look at Estimates Beyond Revenue and EPS

Analysts on Wall Street project that Advance Auto Parts (AAP) will announce quarterly loss of $0.82 per share in its forthcoming report, representing a decline of 222.4% year over year. Revenues are projected to reach $2.5 billion, declining 26.6% from the same quarter last year.The consensus EPS estimate for the quarter has been revised 3.6% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.With that in mind, let's delve into the average projections of some Advance Auto Parts metrics that are commonly tracked and projected by analysts on Wall Street.Analysts predict that the 'Number of stores (Retail) - Total' will reach 4,452. Compared to the current estimate, the company reported 5,097 in the same quarter of the previous year.The average prediction of analysts places 'Number of stores - AAP' at 4,174. The estimate is in contrast to the year-ago figure of 4,483.The consensus estimate for 'Number of stores opened' stands at 4. Compared to the current estimate, the company reported 7 in the same quarter of the previous year.Based on the collective assessment of analysts, 'Number of stores - CARQUEST' should arrive at 277. The estimate is in contrast to the year-ago figure of 294.View all Key Company Metrics for Advance Auto Parts here>>>Advance Auto Parts shares have witnessed a change of +9.9% in the past month, in contrast to the Zacks S&P 500 composite's +13.1% move. With a Zacks Rank #1 (Strong Buy), AAP is expected outperform the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.0% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Advance Auto Parts, Inc. (AAP): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks