Advance Auto Parts says its third-quarter net income rose 16 percent as it benefited from its acquisition of a Northeast car parts supplier and its profit margins expanded.
The company on Thursday posted earnings of $103.8 million, or $1.42 per share, for the quarter ended Oct. 5. That's up from $89.5 million, or $1.21 per share, a year ago.
Revenue increased 4.3 percent to $1.52 billion. But revenue at stores open at least a year fell 2 percent. That's an important measure for retailers because it excludes the volatility from newly opened or closed stores.
Analysts expected earnings of $1.43 per share on revenue of $1.53 billion.
Advance Auto Parts Inc., based in Roanoke, Va., operates more than 4,015 stores in the U.S., Puerto Rico and the Virgin Islands.
It's the first earnings report to come out since Roanoke's only Fortune 500 company announced a deal to buy Raleigh, North Carolina-based General Parts.
Advance's shares rose 28 cents to $100.28 in morning trading.