Advance Auto Parts First Take 1Q26 Results Analysis

Advance Auto Parts reported a strong 1Q26 earnings beat with adj. EPS of $0.77 and a 3.5% increase in comp store sales. Despite the outperformance and reiterated FY26 guidance, Goldman Sachs maintains its Sell rating and $49 price target.

Key Takeaways

• 1.AAP's 1Q26 adjusted EPS of $0.77 significantly beat GS ($0.24) and consensus ($0.43) estimates.
• 2.Management reiterated FY26 guidance, including net sales of $8.485bn-$8.575bn and adj. EPS of $2.40-$3.10.
• 3.Operating margins improved by 410 bps y/y to 3.8% due to gross margin expansion and SG&A leverage.

Table of Contents

• Analysis
• Implications
• Valuation & Risks
• Disclosure Appendix
• Price target and rating history chart(s)
• Target price history table(s)
• Regulatory disclosures

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