Advance Auto Parts (NYSE: AAP) is expected to report Q1 earnings on May 23. Here's what Wall Street wants to see:

The 10-second takeaway
Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Advance Auto Parts's revenues will increase 2.6% and EPS will drop -9.5%.

The average estimate for revenue is $2.01 billion. On the bottom line, the average EPS estimate is $1.62.

Revenue details
Last quarter, Advance Auto Parts reported revenue of $1.33 billion. GAAP reported sales were 0.1% higher than the prior-year quarter's $1.33 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
Last quarter, EPS came in at $0.88. GAAP EPS of $0.88 for Q4 were 2.2% lower than the prior-year quarter's $0.90 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
For the preceding quarter, gross margin was 49.9%, 90 basis points better than the prior-year quarter. Operating margin was 8.5%, 10 basis points better than the prior-year quarter. Net margin was 4.9%, 10 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $6.63 billion. The average EPS estimate is $5.53.

Investor sentiment
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 235 members out of 262 rating the stock outperform, and 27 members rating it underperform. Among 83 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 77 give Advance Auto Parts a green thumbs-up, and six give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Advance Auto Parts is outperform, with an average price target of $79.11.

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