By Denny Jacob

Advance Auto Parts maintained its outlook for the year while reporting better-than-expected results in its latest quarter, sending its stock higher.

Shares rose 20% to $37.56 in premarket trading. The stock is down 34% on the year.

The aftermarket car-parts retailer backed its guidance for 2025, which called for sales from continuing operations between $8.4 billion and $8.6 billion and adjusted earnings per share from continuing operations in the range of $1.50 to $2.50, among other forecasts. The company said its guidance assumes current tariffs remain in place for the remainder of the year.

Chief Executive Shane O'Kelly said Advanced Auto Parts completed its store footprint optimization during the quarter while also making progress in other strategic initiatives, notably in its Pro performance during the quarter with eight consecutive weeks of U.S. Pro comparable sales growth.

"We are reaffirming our annual guidance based on performance to date, expected progress on our strategic initiatives for the balance of the year and our planned mitigation actions for the tariffs currently in effect," said O'Kelly.

The Raleigh, N.C., company logged net income of $24 million, or 40 cents a share, for the first quarter ended April 19, down from $40 million, or 67 cents a share, in the prior-year period.

Stripping out certain one-time items, losses came in at 22 cents a share on an adjusted basis. Analysts polled by FactSet had expected a loss of 82 cents a share on an adjusted basis.

Sales declined to $2.58 billion from $2.77 billion. Analysts polled by FactSet had expected $2.5 billion.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

May 22, 2025 06:54 ET (10:54 GMT)

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