Advance Auto Parts Inc (0H9G.L) Q3 2024 Earnings Report

Advance Auto Parts (0H9G.L) reported a materially weaker QQ3 2024 compared to prior year periods, with revenue of $2.1479 billion, a YoY decline of 22.5% and QoQ decline of 19.9%. Gross profit totaled $907.9 million, delivering a gross margin of 42.3%, but operating income remained essentially breakeven at $0.40 million and net income registered a loss of $6.01 million, or earnings per share of -$0.10. The combination of lower sales and relatively fixed cost structure led to a severe compression of profitability, with an operating margin near zero and a net margin of -0.28%. EBITDA stood at approximately $52.6 million, implying an EBITDA margin around 2.4% for the quarter.