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Auto Stock Roundup: AAP & XPEV's Q2 Results, F's Output Cut & More

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30.08.2021

Last week, the Recreational Vehicle (RV) Industry Association came up with the shipments data for July. Markedly, the RV industry delivered the strongest ever July performance. With this, the RV industry has set a new monthly record for each of the trailing nine months. RVs are gradually evolving from being a pandemic-induced choice for traveling to a sustainable one, owing to the myriad conveniences they provide to travelers. Total shipments edged up 3.5% year over year to 44,537 units. Towable RVs rose 3.4% year over year to 40,511 units, led by a surge in conventional travel trailers units. Motorhomes also increased 3.9% year over year to 4,026 units for the month.

Advance Auto Parts AAP reported adjusted earnings of $3.4 per share for second-quarter 2021 (ended Jul 17, 2021), jumping 15.3% from the prior-year figure. The reported figure also beat the Zacks Consensus Estimate of $2.95 on higher-than-expected comps growth. For the second quarter, comparable store sales witnessed 5.8% growth against the consensus mark of a decline of 1.1%. The firm generated net revenues of $2,649.4 million, marginally topping the Zacks Consensus Estimate of $2,614 million and increasing 5.9% from the year-ago reported figure. Full-year 2021 net sales, comparable store sales growth and adjusted operating income margin are now envisioned in the band of $10.6-$10.8 billion, 6-8% and 9.2-9.4%, respectively.

XPeng XPEV reported second-quarter 2021 loss per share of 23 cents or RMB1.50, narrower than the year-ago loss of RMB 6.29 owing to higher revenues. This China-based........

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