The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how auto parts retailer stocks fared in Q2, starting with Monro (NASDAQ:MNRO).

Cars are complex machines that need maintenance and occasional repairs, and auto parts retailers cater to the professional mechanic as well as the do-it-yourself (DIY) fixer. Work on cars may entail replacing fluids, parts, or accessories, and these stores have the parts and accessories or these jobs. While e-commerce competition presents a risk, these stores have a leg up due to the combination of broad and deep selection as well as expertise provided by sales associates. Another change on the horizon could be the increasing penetration of electric vehicles.

The 5 auto parts retailer stocks we track reported a mixed Q2. As a group, revenues missed analysts’ consensus estimates by 0.7%.

Stocks--especially those trading at higher multiples--had a strong end of 2023, but this year has seen periods of volatility. Mixed signals about inflation have led to uncertainty around rate cuts, and while some auto parts retailer stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 2.7% since the latest earnings results.

Best Q2: Monro (NASDAQ:MNRO)

Started as a single location in Rochester, New York, Monro (NASDAQ:MNRO) provides common auto services such as brake repairs, tire replacements, and oil changes.

Monro reported revenues of $293.2 million, down 10.3% year on year. This print was in line with analysts’ expectations, and overall, it was a very strong quarter for the company with an impressive beat of analysts’ gross margin estimates.

“We drove a significant acceleration in our comparable store sales trends as the first quarter progressed. Importantly, we turned the corner in our tire category with a return to growth in units in the month of June, as we continued to leverage the strength of our manufacturer-funded promotions. The combination of our ConfiDrive digital courtesy inspection process, service coupon and oil change offer allowed us to drive growth in both battery units and sales dollars in the month of June as well as an improvement in our higher-margin service categories as the quarter progressed. Our gross margin expansion in the quarter represents another major step toward restoring our gross margins back to pre-COVID levels”, said Mike Broderick, President and Chief Executive Officer.

Monro delivered the slowest revenue growth of the whole group. The market was likely pricing in the results, and the stock is flat since reporting. It currently trades at $26.

Is now the time to buy Monro? Access our full analysis of the earnings results here, it’s free.

AutoZone (NYSE:AZO)

Aiming to be a one-stop shop for the DIY customer, AutoZone (NYSE:AZO) is an auto parts and accessories retailer that sells everything from car batteries to windshield wiper fluid to brake pads.

AutoZone reported revenues of $4.24 billion, up 3.5% year on year, falling short of analysts’ expectations by 1.3%. It performed better than its peers, but it was unfortunately a mixed quarter for the company with a narrow beat of analysts’ gross margin estimates.

The market seems happy with the results as the stock is up 8.2% since reporting. It currently trades at $3,167.

Is now the time to buy AutoZone? Access our full analysis of the earnings results here, it’s free.

Weakest Q2: Genuine Parts (NYSE:GPC)

Largely targeting the professional customer, Genuine Parts (NYSE:GPC) sells auto and industrial parts such as batteries, belts, bearings, and machine fluids.

Genuine Parts reported revenues of $5.96 billion, flat year on year, falling short of analysts’ expectations by 1.2%. It was a weak quarter for the company with underwhelming earnings guidance for the full year and a miss of analysts’ earnings estimates.

Interestingly, the stock is up 2% since the results and currently trades at $141.20.

Read our full analysis of Genuine Parts’s results here.

O'Reilly (NASDAQ:ORLY)

Serving both the DIY customer and professional mechanic, O’Reilly Automotive (NASDAQ:ORLY) is an auto parts and accessories retailer that sells everything from fuel pumps to car air fresheners to mufflers.

O'Reilly reported revenues of $4.27 billion, up 5% year on year, falling short of analysts’ expectations by 1.1%. Revenue aside, it was a weaker quarter for the company with underwhelming earnings guidance for the full year and a miss of analysts’ gross margin estimates.

O'Reilly achieved the fastest revenue growth but had the weakest full-year guidance update among its peers. The stock is up 8.1% since reporting and currently trades at $1,138.

Read our full, actionable report on O'Reilly here, it’s free.

Advance Auto Parts (NYSE:AAP)

Founded in Virginia in 1932, Advance Auto Parts (NYSE:AAP) is an auto parts and accessories retailer that sells everything from carburetors to motor oil to car floor mats.

Advance Auto Parts reported revenues of $2.68 billion, flat year on year, in line with analysts’ expectations. Overall, it was a weak quarter for the company with underwhelming earnings guidance for the full year and a miss of analysts’ earnings estimates.

Advance Auto Parts delivered the biggest analyst estimates beat and highest full-year guidance raise among its peers. The stock is down 31.4% since reporting and currently trades at $42.46.

Read our full, actionable report on Advance Auto Parts here, it’s free.

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