AAP

Advance Auto Parts (NYSE:AAP) shares lost more than 11% in Tuesday's extended trading hours on disappointing third-quarter results and a weak full-year earnings forecast. Q3 performance was hit by increased penetration of lower-priced in-house brands. AAP stock is down more than 20% year-to-date. The automotive parts provider reported adjusted earnings per share of $2.84, which compared unfavorably with $3.21 in the prior-year quarter. Also, the reported figure was much below Wall Street’s earnings estimate of $3.32. Further, revenue rose about 1% to $2.64 billion but marginally lagged analysts’ expectations of $2.65 billion.
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