Advance Auto Parts rises after upbeat FY forecast
** Automotive aftermarket parts provider Advance Auto Parts AAP.N shares rise 3.1% to $72.38 premarket
** Co now expects its FY net sales in the range of $11.30 bln to $11.50 bln; analysts on average are expecting it to be $11.35 bln - LSEG
** Sees FY EPS to be in a range of $3.75/shr to $4.25/shr, whose midpoint is above LSEG estimates of $3.82/shr
** Reports Q1 sales of $3.40 bln, below estimates of $3.43 bln
** "While the industry experienced a slower start to 2024 compared with our expectations, the actions we began in the back half of last year will help us streamline our operations for the long term" - CEO Shane O'Kelly
** YTD, AAP up 15%
Reporting by Abhinav Parmar in Bengaluru
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