Comparable earnings per diluted share were $2.25, an increase of 35.5% versus the first quarter last year for the aftermarket parts provider.
Total sales increased 47.3% to $2.97 billion, as compared with total sales during the first quarter of fiscal 2013 of $2.02 billion.
Analysts polled by Thomson Reuters had expected per share earnings of $2.16 and revenue of $2.98 billion.
The sales increase was driven by the acquisition of General Parts, solid execution delivering a comparable same store sales increase of 2.4% and the addition of new stores over the past 12 months.
TheStreet Ratings team rates ADVANCE AUTO PARTS INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate ADVANCE AUTO PARTS INC (AAP) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, expanding profit margins, reasonable valuation levels and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income."