A lower effective income tax rate – a byproduct of President Trump’s tax-reform measure – boosted AutoZone’s net income and diluted earnings per share, according to the company.
“We are pleased to report another quarter of operational improvement as we begin the second year of our five-year plan,” said Tom Greco, Advance Auto Parts president and CEO.
Advance’s stock tumbled 20 percent after the retailer reported its Q2 results.
Advance Auto Parts CEO Tom Greco said the company is keeping the big picture in mind after a slow first quarter marked by weaker-than-expected demand.
O’Reilly Automotive reported a 3 percent increase in first-quarter 2017 revenue and profit, but other metrics fell short of the company’s expectations.
Standard Motor Products, Inc. will hold a conference call at 11:00 AM, Eastern Time, on Thursday, July 30, 2015.