Advance Auto Parts Crashes on Q2 Earnings & Dismal Outlook
Bullish implications for O'Reilly and AutoZone
Today, Advance Auto Parts reported its Q2 results and announced the divestiture of the Worldpac business (a wholesale distributor of original equipment auto parts) for a net cash inflow of 1.2 billion USD. At the time of writing, shares are tanking by 17%.
Let’s review the results in a little more detail, and discuss what they mean for O’Reilly and AutoZone. FYI: we covered ORLY’s Analyst Day in yesterday’s post.
