On May 21, Advance Auto Parts surged 18.4% in regular trading, trading at $60.55/share, with trading volume of $318 million. The rally was driven by the company's fiscal Q1 results that dramatically exceeded Wall Street expectations.

Specifically, adjusted EPS came in at $0.77, crushing the analyst consensus estimate of $0.45 by 71% and swinging sharply from a loss of $0.22 per share a year earlier. Net sales reached $2.614 billion, topping the expected $2.579 billion. The outperformance was fueled by robust growth in the company's Pro business segment, which serves commercial garages and repair shops. For the full year, management guided adjusted EPS of $2.40–$3.10 versus the FactSet estimate of $2.80. Following the results, Truist Securities raised its price target from $55 to $62 while maintaining a Hold rating. The analyst consensus mean target stands at $57.11.

Founded in 1929, Advance Auto Parts is a leading U.S. automotive parts retailer operating stores under the Advance Auto Parts, Carquest, and Worldpac brands, serving both professional installers and do-it-yourself customers.

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