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Business Wire
8 hours ago
- Business Wire
Advance Auto Parts Announces Preliminary Second Quarter 2025 Financial Highlights
RALEIGH, N.C.--(BUSINESS WIRE)--Advance Auto Parts, Inc. (NYSE: AAP), a leading automotive aftermarket parts provider in North America that serves both professional installer and do-it-yourself customers ('Advance' or the 'Company'), announced preliminary second quarter 2025 financial highlights. 'Our team remains focused on implementing our strategic initiatives to improve business performance. We are pleased to share preliminary second-quarter financial results, which align with the upper range of our expectations, demonstrating progress in our turnaround efforts,' said Shane O'Kelly, president and chief executive officer. 'Today, we are announcing proactive debt financing transactions, aimed at preserving financial flexibility for the business as we continue to execute our initiatives.' 'We are working closely with our banking partners to establish a revised debt financing structure that we believe serves as a bridge toward re-attainment of an investment grade credit rating in the future,' said Ryan Grimsland, executive vice president and chief financial officer. 'As we navigate the dynamic macro-economic environment, the additional liquidity generated from our financing plans will support the new asset-backed revolving loan facility and commitments under the supply chain financing program utilized by our vendors. We believe that our revised debt structure will position us to maintain continued access to this program while providing us the optionality to optimize the program for the long-term.' Preliminary Second Quarter 2025 Financial Highlights Based on preliminary unaudited financials for the second quarter ended July 12, 2025, the Company expects to report the following: Net sales: $1.98 billion to $2.00 billion Year-over-year comparable store sales percent change: 0.0% to +0.1% Adjusted operating income margin (1): 2.8% to 3.0% The Company expects to report financial results for the second quarter ended July 12, 2025 before the market opens on Thursday, August 14, 2025. About Advance Auto Parts Advance Auto Parts, Inc. is a leading automotive aftermarket parts provider that serves both professional installers and do-it-yourself customers. As of April 19, 2025, Advance operated 4,285 stores primarily within the United States, with additional locations in Canada, Puerto Rico, and the U.S. Virgin Islands. The company also served 881 independently owned Carquest branded stores across these locations in addition to Mexico and various Caribbean islands. Additional information about Advance, including employment opportunities, customer services, and online shopping for parts, accessories and other offerings can be found at Forward-Looking Statements This press release provides a preliminary view of management's current plans and intentions relating to the Company' capital structure and debt financing arrangements. These plans and intentions are subject to change and the Company can provide no assurances that the Company will successfully negotiate and complete the entry into the asset-backed revolving loan facility or the other potential arrangements or transactions described or implied in this disclosure. In addition, the preliminary second quarter 2025 financial highlights presented in this press release are derived from the Company's internal records and based on the most current information available to management, are subject to the closing and finalization of financial and accounting procedures for the period (which have yet to be performed) and should not be viewed as a substitute for our full financial statements prepared in accordance with GAAP. Our normal reporting processes with respect to the preliminary estimated financial data provided below have not been fully completed. As a result, these preliminary estimated results may differ from the actual results that will be reflected in our unaudited condensed consolidated financial statements for the second quarter of 2025 when they are completed. While we believe that these estimates are based on reasonable assumptions, our actual results may vary, and such variations may be material. Certain statements herein are 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are usually identifiable by words such as 'anticipate,' 'believe,' 'could,' 'estimate,' 'expect,' 'forecast, 'guidance,' 'intend,' 'likely,' 'may,' 'plan,' 'position,' 'possible,' 'potential,' 'probable,' 'project,' 'should,' 'strategy,' 'target,' 'will,' or similar language. All statements other than statements of historical fact are forward-looking statements, including, but not limited to, statements about the Company's strategic initiatives, restructuring and asset optimization, financial objectives, including the refinancing of the Company's $1.0 billion revolving loan facility with the planned asset-backed revolving loan facility, the additional debt capital raise operational plans and objectives, statements about the Company's preliminary estimated results for the quarter ended July 12, 2025, statements about the status of, and capacity and utilization under, the Company's supply chain financing arrangements, statements about the Company's future credit ratings and outlook, statements regarding expectations for economic conditions, future business and financial performance, including with respect to tariffs, as well as statements regarding underlying assumptions related thereto. Forward-looking statements reflect the Company's views based on historical results, current information and assumptions related to future developments. Except as may be required by law, the Company undertakes no obligation to update any forward-looking statements made herein. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those projected or implied by the forward-looking statements. They include, among others, the Company's ability to complete its debt financing plans on terms favorable to the Company or at all, risks relating to incurrence of indebtedness and increased leverage, the Company's ability to hire, train and retain qualified employees, the timing and implementation of strategic initiatives, risks associated with the Company's restructuring and asset optimization plans, risks relating to refinancing the Company's existing revolving loan facility with the planned asset-backed revolving loan facility, risks related to the Company's credit ratings or perceived creditworthiness, deterioration of general macroeconomic conditions, geopolitical factors including increased tariffs and trade restrictions, the highly competitive nature of the industry, demand for the Company's products and services, risks relating to the impairment of assets, including intangible assets such as goodwill, access to financing on favorable terms, complexities in the Company's inventory and supply chain and challenges with transforming and growing its business. Please refer to ' Item 1A. Risk Factors ' of the Company's most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission ('SEC'), for a description of these and other risks and uncertainties that could cause actual results to differ materially from those projected or implied by the forward-looking statements. 1 Adjusted operating income margin is a non-GAAP measure. For a better understanding of the Company's non-GAAP adjustments, refer to the reconciliation of non-GAAP financial measures in the company's periodic reports filed with the SEC. The Company is not able to provide a reconciliation of this forward-looking non-GAAP measure because it is unable to predict with reasonable accuracy the value of certain adjustments and as a result, the comparable GAAP measure is unavailable without unreasonable efforts.
Business Wire
a day ago
- Business Wire
FFAI Marks Fourth Anniversary of Nasdaq Listing with Commitment to Accelerate FX Product Execution and Delivery, Uphold 'Stockholders First' Principle, and Continue the Counterattack Against Potential Illegal Short Selling
LOS ANGELES--(BUSINESS WIRE)--Faraday Future Intelligent Electric Inc. (NASDAQ: FFAI) ('Faraday Future', 'FF' or the 'Company'), a California-based global shared intelligent electric mobility ecosystem company, today announced the celebration of its fourth anniversary as a publicly listed company on Nasdaq. Marking this milestone, the Company reaffirmed its commitment to driving breakthroughs in both its business and capital fundamentals. FF also pledged to accelerate the execution and delivery of products under its second brand, FX, while advancing its dual-brand strategy. Upholding its 'Stockholders First' philosophy, the Company remains focused on delivering greater value to stockholders by expediting efforts to win the Counterattack Against Potential Illegal Short Selling and maximizing stockholder interests. Faraday Future Marks Fourth Anniversary with a Reversal in Both Business and Capital Fundamentals Since its successful listing in 2021, FF has remained focused on disruptive innovation in the intelligent electric mobility ecosystem and is now advancing from the AIEV era to the next-generation EAI EV era. Following the return of the founding team—including Founder YT Jia—in April this year, the Company has implemented a comprehensive 'Ten Punch Combo' transformations, achieving a qualitative leap across key areas such as product development and delivery, manufacturing, supply chain, brand building, organizational governance, and system and capability buildup. On July 17, FF successfully unveiled in Downtown Los Angeles the FX Super One, alongside the Super EAI F.A.C.E. (Front AI Communication Ecosystem), and the FF EAI Embodied AI Agent 6x4 Architecture. The debut of the FX Super One made a striking market impression, fundamentally redefining the traditional luxury executive mobility experience long dominated by models such as the Cadillac Escalade. Compared to where the Company stood at the time of its IPO four years ago, FF has now achieved a dual turnaround in both business and capital fundamentals. The Company has established a strategic framework centered around dual home markets and dual DNA in U.S. and China, while also deploying its 'Third Pole' in Middle East. Through consistent delivery on its promises, more transparent communications, and a proactive and pragmatic corporate culture, FF has regained a vote of confidence from its stockholders. Since its debut, the FX Super One has attracted significant market attention, with over 10,000 paid pre-orders from both B2B and B2C customers. FF continues to refine its Co-Creation Ecosystem Online Direct Sales system, expand its multi-channel sales strategy, and elevate brand influence. The Company's 'B2B2C' co-creation ecosystem model now covers five core sectors: FX Par (Partners), car rental companies, live e-commerce MCN agencies, real estate brokerages, and home office industry. On July 21, the Company also announced a strategic partnership with HabitTrade, a global multi-market brokerage and digital asset infrastructure platform. Through this collaboration, FF seeks to build an integrated ecosystem combining EAI mobility, Web3, blockchain technology, crypto, and stablecoin applications. This initiative aims to bridge Web2 and Web3, connect on-chain and off-chain value flows, and expand the convergence between the real and virtual economies—creating new value for both users and the industry. In addition, the Company recently completed a new round of financing commitment totaling $105 million, which is expected to nearly cover the launch requirements of the FX Super One. Global institutional investor BlackRock has increased its holdings in FFAI for four consecutive quarters, reaching 5.39 million shares, signaling growing recognition and confidence among top-tier capital in the outlook of both FF and FX. Initial Victory in the Counterattack Against Potential Illegal Short Selling; FF Reaffirms Its Commitment to Protecting Stockholder Interests Since the appointment of Founder YT Jia as FF's Co-CEO, the Company has achieved initial success in its efforts to combat potential illegal short selling. The Company previously issued a public update on the identified illegal short selling and online market manipulation targeting FFAI, noting that certain individuals and online accounts involved had issued public apologies and taken down all content suspected of contributing to such manipulative activities. Recently, the Company identified additional indications of potential illegal short selling and the deliberate dissemination of false or misleading information aimed at disrupting the market. FF has issued a legal letter to the parties involved and reserves all rights to pursue legal remedies. On the occasion of its fourth anniversary as a publicly listed company, FF reaffirms its unwavering commitment to the 'Stockholders First' philosophy and its effort to continue to closely monitor the market for signs of potential illegal short selling and will take all necessary legal and regulatory actions to defend the rights and interests of its stockholders. Any attempts to undermine FFAI or harm investor interests will be met with appropriate consequences. FF also calls on regulators and the broader investment community to remain vigilant against such bad-faith efforts to distort capital markets. The Company urges collective resistance against the malicious attacks and defamatory campaigns launched by irresponsible entities targeting innovative enterprises. ABOUT FARADAY FUTURE Faraday Future is a California-based global shared intelligent electric mobility ecosystem company. Founded in 2014, the Company's mission is to disrupt the automotive industry by creating a user-centric, technology-first, and smart driving experience. Faraday Future's flagship model, the FF 91, exemplifies its vision for luxury, innovation, and performance. The FX strategy aims to introduce mass production models equipped with state-of-the-art luxury technology similar to the FF 91, targeting a broader market with middle-to-low price range offerings. FF is committed to redefining mobility through AI innovation. Join us in shaping the future of intelligent transportation. For more information, please visit FORWARD LOOKING STATEMENTS This press release includes 'forward looking statements' within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words 'plan to,' 'can,' 'will,' 'should,' 'future,' 'potential,' and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements, which include statements regarding the Super One MPV, Super EAI F.A.C.E., and EAI Embodied AI Agent 6x4 architecture, are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include, among others: the Company's ability to secure necessary agreements to license or produce FX vehicles in the U.S., the Middle East, or elsewhere, none of which have been secured; the Company's ability to homologate FX vehicles for sale in the U.S., the Middle East, or elsewhere; the Company's ability to secure the necessary funding to execute on its AI, EREV and Faraday X (FX) strategies, each of which will be substantial; the Company's ability to secure necessary permits at its Hanford, CA production facility; the Company's ability to secure regulatory approvals for the proposed Super One front grill; the potential impact of tariff policy; the Company's ability to continue as a going concern and improve its liquidity and financial position; the Company's ability to pay its outstanding obligations; the Company's ability to remediate its material weaknesses in internal control over financial reporting and the risks related to the restatement of previously issued consolidated financial statements; the Company's limited operating history and the significant barriers to growth it faces; the Company's history of losses and expectation of continued losses; the success of the Company's payroll expense reduction plan; the Company's ability to execute on its plans to develop and market its vehicles and the timing of these development programs; the Company's estimates of the size of the markets for its vehicles and cost to bring those vehicles to market; the rate and degree of market acceptance of the Company's vehicles; the Company's ability to cover future warranty claims; the success of other competing manufacturers; the performance and security of the Company's vehicles; current and potential litigation involving the Company; uncertainties regarding the Company's legal remedies related to illegal short selling, market manipulation, or false information, and the unpredictability of judicial interpretations or regulatory responses; the Company's ability to receive funds from, satisfy the conditions precedent of and close on the various financings described elsewhere by the Company; the result of future financing efforts, the failure of any of which could result in the Company seeking protection under the Bankruptcy Code; the Company's indebtedness; the Company's ability to cover future warranty claims; the Company's ability to use its 'at-the-market' program; insurance coverage; general economic and market conditions impacting demand for the Company's products; potential negative impacts of a reverse stock split; potential cost, headcount and salary reduction actions may not be sufficient or may not achieve their expected results; circumstances outside of the Company's control, such as natural disasters, climate change, health epidemics and pandemics, terrorist attacks, and civil unrest; risks related to the Company's operations in China; the success of the Company's remedial measures taken in response to the Special Committee findings; the Company's dependence on its suppliers and contract manufacturer; the Company's ability to develop and protect its technologies; the Company's ability to protect against cybersecurity risks; and the ability of the Company to attract and retain employees, any adverse developments in existing legal proceedings or the initiation of new legal proceedings, and volatility of the Company's stock price. You should carefully consider the foregoing factors and the other risks and uncertainties described in the 'Risk Factors' section of the Company's Form 10-K filed with the SEC on March 31, 2025, and other documents filed by the Company from time to time with the SEC.
Wall Street Journal
2 days ago
- Wall Street Journal
Renault Group Vehicle Sales Rise on Passenger-Car Strength
Renault group vehicle sales rose by 1.3% in the first half of the year, boosted by a strong performance from its core brand's passenger cars. Overall group sales rose to 1.17 million vehicles in the period from 1.15 million a year earlier.
