Entire Year Net Sales Increased 8.8% to $11.0 Billion; Comparable Store Sales Increased 10.7%Operating Cash Flow Increased 14.7% to $1.1 Billion; Free Cash Flow Increased 17.2% to $822.6 MillionReturned $1.0 Billion in Cash to Shareholders
$1.0 Billion Increase to Existing Share Repurchase AuthorizationQuarterly Cash Dividend Increased half to $1.50 Per Share
RALEIGH, N.C., February 14, 2022 Advance Auto Parts, Inc., a main auto secondary selling parts supplier in North America, that serves both expert installer and DIY clients, reported its monetary outcomes for the final quarter and entire year finished January 1, 2022. The organization’s 2020 outcomes in both the final quarter and entire year incorporate an extra week.
Advance had a solid final quarter and conveyed a record year in 2021 across generally key measurements. We stayed zeroed in all through the year on the execution of the procedure we laid out last April to convey top quartile complete investor return. On account of the devotion of our colleagues and Independent accomplices, our business is significantly more grounded and preferred situated today over it was before the pandemic, said Tom Greco, president and CEO officer.We shut the year with a record $11.0 billion in net deals and around 159 premise focuses in changed working pay edge extension comparative with the similar 52 weeks in 2020. We additionally returned a record $1.0 billion in real money to investors through share repurchases and quarterly money profits. Likewise, we’ve currently conceded north of 24,000 stock honors to bleeding edge colleagues, esteemed at more than $60 million upon award since the beginning of our Fuel the Frontline program. This speculation makes a proprietorship culture that empowers Advance to stay a business of decision as long as possible.
- As we start 2022, we stay zeroed in on the restrained execution of our essential arrangement. While we are as yet exploring unsure times as it connects with macroeconomic elements, including huge expansion, the ventures we’ve made in separating our business will keep on giving upper hand to Advance. We trust these speculations, alongside industry tailwinds, for example, improvement in miles driven and a maturing armada will empower us to keep on driving beneficial development and complete investor return.
- Final quarter 2021 Net deals added up to $2.4 billion, a 1.3% increment contrasted and the final quarter of the earlier year. Barring deals from the extra week in the final quarter 2020, Net deals expanded 8.6%. Equivalent store deals development for the final quarter 2021 was 8.2%. For entire year 2021, Net deals of $11.0 billion expanded 8.8% from entire year 2020. On a near 52-week premise, Net deals expanded 10.6%. Entire year 2021 Comparable store deals development was 10.7%.
- The organization’s GAAP Gross overall revenue diminished to 44.7% from 45.8% in the final quarter of the earlier year. Changed net benefit expanded 12.1% from the near 12 weeks in the final quarter of 2020 to $1.1 billion in the final quarter of 2021. Changed net overall revenue was 46.8% of Net deals in the final quarter of 2021, a 145 premise point increment from the near 12 weeks in the final quarter of 2020, basically determined by enhancements in class the board including key valuing, stock related and possessed brand development.
This was somewhat counterbalanced by continuous inflationary expenses, troublesome channel blend and the lapping of psychologist benefits in the final quarter of the earlier year. GAAP Gross overall revenue expanded 47 premise focuses to 44.8% for entire year 2021, while Adjusted net revenue for entire year 2021 was 46.0%, a 175 premise point improvement from the relative 52 weeks in the earlier year.