5 Stocks Gaining Attention After Beating Profit Expectations

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In this article, we discuss the 5 stocks gaining attention after beating profit expectations. If you want to read our detailed analysis of these companies, go directly to the 10 Stocks Gaining Attention After Beating Profit Expectations.

5. Advance Auto Parts, Inc. (NYSE:AAP)

Number of Hedge Fund Holders: 34

Advance Auto Parts, Inc. (NYSE:AAP) recently caught investors’ attention after announcing better-than-expected financial results for the third quarter. The automotive aftermarket parts provider reported adjusted earnings of $3.21 per share, up 21.6 percent from the same period last year.

Revenue came in at $2.62 billion, up 3.1 percent versus the year-ago quarter. Analysts were expecting Advance Auto Parts, Inc. (NYSE:AAP) to report adjusted earnings of $2.87 per share on revenue of $2.58 billion.

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The company also updated its sales outlook for 2021. Advance Auto Parts, Inc. (NYSE:AAP) now expects revenue in the range of $10.90 – $10.95 billion for the full year, compared to its previous forecast between $10.60 – $10.80 billion.

Speaking on the results, CEO Tom Greco said in a statement:

“In Q3, we delivered another quarter of improved top-line growth and margin expansion and returned significant cash to our shareholders in line with the strategy we outlined in April.”

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