Advance Auto Parts Reports Strong Q1 2023 Financial Results
Net Sales Increase 23.4% Year-Over-Year
RALEIGH, N.C.--(BUSINESS WIRE)-- Advance Auto Parts, Inc. (AAP) today reported strong financial results for the first quarter of 2023.
Key Financial Highlights:
- Net sales increased 23.4% to $3.3 billion, compared to $2.7 billion in the first quarter of 2022.
- Comparable store sales increased 10.4%.
- Diluted earnings per share increased 36.4% to $3.06, compared to $2.24 in the first quarter of 2022.
"We are pleased with our strong start to the year, with net sales growth driven by continued strength in our core business and the benefits of our strategic initiatives," said Tom Greco, President and Chief Executive Officer of Advance Auto Parts. "Our team remains focused on executing our long-term strategy to drive profitable growth and enhance the customer experience."
For more information, please visit the Advance Auto Parts website at advanceautoparts.com.
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