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Posted

When selecting parts for a car repair, it pays to know the differences between original and aftermarket parts. Whenever possible, get estimates for both.

OEM vs. Aftermarket Parts for Your Car

Choosing between original and aftermarket car parts — and even used parts of either type — is all about squaring your priorities with your budget.

You’ll have different options depending on the part and the shop. And the best choice will depend on whether you’re trying to keep repairs cheap, restore your car’s appearance after a wreck or soup up your ride.

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Before we get into that, here are the key differences:

Original equipment manufacturer (OEM) parts match those that came with your car, and are of the same quality as its original parts. They’re also the most expensive.
Aftermarket parts are cheaper, and made by other manufacturers — often several, giving you more options.
Used parts may have a bit of wear and tear, but should be inspected or rebuilt to ensure they’ll work. These are the cheapest option.

Choosing between aftermarket and OEM parts

Your decision will depend on the type of repair and the quality and price of the parts. Always look for parts that come with a warranty, even if they’re OEM, so you’ll be protected in case they fail.

Auto body repairs

Some aftermarket parts may be OK for 

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, but others won’t be as good, says Michael Calkins, manager of technical services at AAA. “There’s a lot of variation in quality.” For example, he says, aftermarket parts often don’t have the same level of rustproofing as original parts, fit and finish don’t match, or panels don’t align properly.

Ultimately your decision will depend on the type of repair and the quality and price of the parts.

If OEM parts are used in auto body repair, the car should look and work exactly as it did before the damage, because everything will match up. OEM parts are also crash-tested, unlike many aftermarket parts.

Aftermarket parts come at varying price points and levels of quality, but because they are cheaper, insurance companies often prefer them. If you want OEM parts but are dealing with an insurer that wants the shop to use aftermarket parts, ask to pay the difference.

“There’s also the option of used parts, depending on the age of the vehicle,” Calkins says. “It may be cheaper than an aftermarket part but still have all of the original quality.”

Mechanical repairs

A used part, whether it’s OEM or aftermarket, can really save money on repairs under the hood, so long as it’s inspected first and warrantied. And some aftermarket companies reverse-engineer their products to be even better than OEM versions.

Some companies reverse-engineer aftermarket parts to be even better than OEM versions.

For example, many car buffs will tell you that you can get heavy-duty shocks and struts or brake pads that are made of stronger materials. Scan some reviews online, or talk with your mechanic if you’re not sure whether an aftermarket part could be an upgrade.

Adding some extras

If you’d like to modify your ride by adding something like a backup camera or back-seat TV screen, you’ll probably be looking for aftermarket parts. Certain aftermarket upgrades could increase 

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. This is especially true for improvements like a better sound system or alloy wheels, rather than mechanical repairs.

Who provides OEM or aftermarket parts?

The options you’ll have for parts depends on the nature of the repairs and what type of shop you take your car to:

    • Dealership repair shops will offer only OEM parts — they have no reason to offer a cheaper product from a competitor
    • link hidden, please login to view
       may be able to offer you a choice between OEM and aftermarket parts
    • Independent garages that specialize in your type of vehicle will likely have both, but with quicker access to OEM parts, including used OEM parts, which can really save you
    • Auto body shops can offer both, but if your collision repair is part of an insurance claim, the insurer will likely prefer aftermarket parts to save money

Depending on the job, the cost of OEM versus aftermarket parts varies. Whenever you’re given the choice, ask to see estimates for both so you can weigh your options.

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  • 1 month later...
Sell your car with CarBrain
Posted

I prefer to buy aftermarket car parts instead of OEM due to the fact that aftermarket car parts are less costly as compared to OEM. Choosing aftermarket car parts gives you a variety of options and they are easily available, whereas OEM parts on the other hand are not readily available and in order to purchase an OEM part you will have to contact your care manufacturer. Lastly, and most importantly, aftermarkets parts have been known to perform better then the original parts in certain cases.

  • Like 1
  • 2 years later...
Posted

@EllenJ90: This is also the feedback from our customers. Most mechanic parts break for a certain reason (if it's not a crash), so we offer rebuilds of those parts with the options of re-engineering and different materials than the originals.

 

Check out your options at 

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      Approx. (1.0%)
      Adjusted operating income margin from continuing operations
       
       
      0.25
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      0.75
      %
      Adjusted diluted EPS from continuing operations
       
      $
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      $
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      $
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      Approx. $9,000
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      Positive low-single-digit %
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      30 new stores
       
      50 to 70 new stores
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      December 30, 2023
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      Current assets:
         
       
       
      Cash and cash equivalents
        $
      464,492
       
      $
      488,049
      Receivables, net
         
      668,937
       
       
      609,528
      Inventories, net
         
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      3,893,569
      Other current assets
         
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      180,402
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      1,205,473
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      7,493,767
       
       
      6,377,021
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      1,555,985
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      2,347,073
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      601,159
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      85,988
      Noncurrent assets held for sale
         

       
       
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        $
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      $
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      Accrued expenses
         
      641,914
       
       
      616,067
      Other current liabilities
         
      458,343
       
       
      396,408
      Current liabilities held for sale
         
      994,824
       
       
      768,851
      Total current liabilities
         
      5,593,541
       
       
      5,307,405
      Long-term debt
         
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      1,786,361
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      2,018,383
       
       
      2,039,908
      Deferred income taxes
         
      380,118
       
       
      355,635
      Other long-term liabilities
         
      89,949
       
       
      83,538
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      183,751
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      2,597,680
       
       
      2,519,728
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      $
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        Twelve Weeks Ended
       
      Forty Weeks Ended
       
        October 5, 2024
       
      October 7, 2023 (1)
       
      October 5, 2024
       
      October 7, 2023 (1)
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        $
      2,147,991
       
       
      $
      2,218,205
       
       
      $
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      $
      7,194,670
       
      Cost of sales, including purchasing and warehousing costs
         
      1,240,093
       
       
       
      1,400,638
       
       
       
      4,036,898
       
       
       
      4,154,190
       
      Gross profit
         
      907,898
       
       
       
      817,567
       
       
       
      3,061,404
       
       
       
      3,040,480
       
      Selling, general and administrative expenses
         
      907,495
       
       
       
      896,145
       
       
       
      2,954,707
       
       
       
      2,959,238
       
      Operating income (loss)
         
      403
       
       
       
      (78,578
      )
       
       
      106,697
       
       
       
      81,242
       
      Other, net:
         
       
       
       
       
       
       
      Interest expense
         
      (18,805
      )
       
       
      (19,375
      )
       
       
      (62,127
      )
       
       
      (69,948
      )
      Other income (expense), net
         
      2,393
       
       
       
      (305
      )
       
       
      12,769
       
       
       
      232
       
      Total other, net
         
      (16,412
      )
       
       
      (19,680
      )
       
       
      (49,358
      )
       
       
      (69,716
      )
      (Loss) income before provision for income taxes
         
      (16,009
      )
       
       
      (98,258
      )
       
       
      57,339
       
       
       
      11,526
       
      Provision for income taxes
         
      9,354
       
       
       
      (24,072
      )
       
       
      34,763
       
       
       
      6,360
       
      Net (loss) income from continuing operations
         
      (25,363
      )
       
       
      (74,186
      )
       
       
      22,576
       
       
       
      5,166
       
      Net income from discontinued operations
         
      19,349
       
       
       
      12,149
       
       
       
      56,413
       
       
       
      59,696
       
      Net (loss) income
        $
      (6,014
      )
       
      $
      (62,037
      )
       
      $
      78,989
       
       
      $
      64,862
       
       
         
       
       
       
       
       
       
      Basic (loss) earnings per common share from continuing operations
        $
      (0.42
      )
       
      $
      (1.25
      )
       
      $
      0.38
       
       
      $
      0.09
       
      Basic earnings per common share from discontinued operations
         
      0.32
       
       
       
      0.20
       
       
       
      0.95
       
       
       
      1.00
       
      Basic (loss) earnings per common share
        $
      (0.10
      )
       
      $
      (1.05
      )
       
      $
      1.33
       
       
      $
      1.09
       
      Basic weighted-average common shares outstanding
         
      59,684
       
       
       
      59,474
       
       
       
      59,618
       
       
       
      59,411
       
       
         
       
       
       
       
       
       
      Diluted (loss) earnings per common share from continuing operations
        $
      (0.42
      )
       
      $
      (1.24
      )
       
      $
      0.38
       
       
      $
      0.09
       
      Diluted earnings per common share from discontinued operations
         
      0.32
       
       
       
      0.20
       
       
       
      0.94
       
       
       
      1.00
       
      Diluted (loss) earnings per common share
        $
      (0.10
      )
       
      $
      (1.04
      )
       
      $
      1.32
       
       
      $
      1.09
       
      Diluted weighted-average common shares outstanding
         
      59,902
       
       
       
      59,630
       
       
       
      59,878
       
       
       
      59,588
       
      (1)
        The condensed consolidated statement of operations for the twelve and forty weeks ended October 7, 2023, reflects the correction of non-material errors the company discovered in previously reported results.
      Advance Auto Parts, Inc. and Subsidiaries
      Condensed Consolidated Statements of Cash Flows
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        Forty Weeks Ended
       
        October 5, 2024
       
      October 7, 2023
      Cash flows from operating activities:
         
       
       
      Net income
        $
      78,989
       
       
      $
      64,862
       
      Net income from discontinued operations
         
      56,413
       
       
       
      59,696
       
      Net income from continuing operations
         
      22,576
       
       
       
      5,166
       
      Adjustments to reconcile net income to net cash used in operating activities:
         
       
       
      Depreciation and amortization
         
      217,197
       
       
       
      206,658
       
      Share-based compensation
         
      33,810
       
       
       
      33,777
       
      (Gain) Loss on sale and impairment of long-lived assets
         
      (14,273
      )
       
       
      1,886
       
      Provision for deferred income taxes
         
      24,289
       
       
       
      (27,811
      )
      Other, net
         
      2,986
       
       
       
      2,436
       
      Net change in:
         
       
       
      Receivables, net
         
      (60,383
      )
       
       
      (161,629
      )
      Inventories, net
         
      (152,229
      )
       
       
      (110,871
      )
      Accounts payable
         
      (25,225
      )
       
       
      (77,336
      )
      Accrued expenses
         
      30,794
       
       
       
      171,117
       
      Other assets and liabilities, net
         
      1,477
       
       
       
      (71,707
      )
      Net cash provided by (used in) operating activities from continuing operations
         
      81,019
       
       
       
      (28,314
      )
      Net cash provided by operating activities from discontinued operations
         
      76,917
       
       
       
      57,148
       
      Net cash provided by operating activities
         
      157,936
       
       
       
      28,834
       
      Cash flows from investing activities:
         
       
       
      Purchases of property and equipment
         
      (129,714
      )
       
       
      (174,186
      )
      Proceeds from sales of property and equipment
         
      13,232
       
       
       
      2,001
       
      Net cash used in investing activities of continuing operations
         
      (116,482
      )
       
       
      (172,185
      )
      Net cash used in investing activities of discontinued operations
         
      (7,988
      )
       
       
      (13,015
      )
      Net cash used in investing activities
         
      (124,470
      )
       
       
      (185,200
      )
      Cash flows from financing activities:
         
       
       
      Borrowings under credit facilities
         

       
       
       
      4,805,000
       
      Payments on credit facilities
         

       
       
       
      (4,990,000
      )
      Borrowings on senior unsecured notes
         

       
       
       
      599,571
       
      Dividends paid
         
      (44,882
      )
       
       
      (194,322
      )
      Purchases of noncontrolling interests
         
      (9,101
      )
       
       

       
      Proceeds from the issuance of common stock
         
      2,995
       
       
       
      3,045
       
      Repurchases of common stock
         
      (5,601
      )
       
       
      (14,237
      )
      Other, net
         
      (1,143
      )
       
       
      (5,010
      )
      Net cash (used in) provided by financing activities
         
      (57,732
      )
       
       
      204,047
       
       
        Forty Weeks Ended
       
        October 5, 2024
       
      October 7, 2023
      Effect of exchange rate changes on cash
         
      11,766
       
       
       
      (1,932
      )
       
         
       
       
      Net (decrease) increase in cash and cash equivalents
         
      (12,500
      )
       
       
      45,749
       
      Cash and cash equivalents, beginning of period
         
      503,471
       
       
       
      270,805
       
      Cash and cash equivalents, end of period
        $
      490,971
       
       
      $
      316,554
       
       
         
       
       
      Summary of cash and cash equivalents:
         
       
       
      Cash and cash equivalents of continuing operations, end of period
        $
      464,492
       
       
      $
      308,804
       
      Cash and cash equivalents of discontinued operations, end of period
         
      26,479
       
       
       
      7,750
       
      Cash and cash equivalents , end of period
        $
      490,971
       
       
      $
      316,554
       
      (1)
        The condensed consolidated statement of cash flows for the forty weeks ended October 7, 2023, reflects the correction of non-material errors the company discovered in previously reported results.
      Restatement of Previously Issued Financial Statements
      During the fiscal year ended December 30, 2023, the company identified errors primarily impacting cost of sales, selling, general and administrative costs and other income/expenses, net, incurred in prior years but not previously recognized. The company evaluated the errors and determined that the related impacts were not material to the previously issued consolidated financial statements for any prior period. A summary of the corrections to the impacted financial statement line items in the company's Condensed Consolidated Statement of Operations for the twelve and forty weeks ended October 7, 2023, and the company's Condensed Consolidated Statement of Cash Flows for the forty weeks ended October 7, 2023, included in the company's previously filed Annual Report on Form 10-K are presented below:
      Condensed Consolidated Statement of Operations
      October 7, 2023
       
        Twelve Weeks Ended
      (in thousands)
        As Previously Reported
       
      Adjustments
       
      As Corrected
       
      Discontinued Operations
       
      As Corrected, after Discontinued Operations
      Cost of sales
        $
      1,732,420
       
       
      $
      16,379
       
       
      $
      1,748,799
       
       
      $
      348,161
       
      $
      1,400,638
       
      Gross profit
         
      986,659
       
       
       
      (16,379
      )
       
       
      970,280
       
       
       
      152,713
       
       
      817,567
       
      Selling, general and administrative expenses
         
      1,030,355
       
       
       
      878
       
       
       
      1,031,233
       
       
       
      135,088
       
       
      896,145
       
      Operating (loss) income
         
      (43,696
      )
       
       
      (17,257
      )
       
       
      (60,953
      )
       
       
      17,625
       
       
      (78,578
      )
      (Loss) Income before provision for income taxes
         
      (64,319
      )
       
       
      (17,257
      )
       
       
      (81,576
      )
       
       
      16,682
       
       
      (98,258
      )
      Provision for income taxes
         
      (15,686
      )
       
       
      (3,853
      )
       
       
      (19,539
      )
       
       
      4,533
       
       
      (24,072
      )
      Net (loss) income
        $
      (48,633
      )
       
      $
      (13,404
      )
       
      $
      (62,037
      )
       
      $
      12,149
       
      $
      (74,186
      )
       
         
       
       
       
       
       
       
       
       
      Basic (loss) earnings per share
        $
      (0.82
      )
       
      $
      (0.23
      )
       
      $
      (1.05
      )
       
      $
      0.20
       
      $
      (1.25
      )
      Diluted (loss) earnings per common share
        $
      (0.82
      )
       
      $
      (0.22
      )
       
      $
      (1.04
      )
       
      $
      0.20
       
      $
      (1.24
      )
      Condensed Consolidated Statement of Operations
      October 7, 2023
       
        Forty Weeks Ended
      (in thousands)
        As Previously Reported
       
      Adjustments
       
      As Corrected
       
      Discontinued Operations
       
      As Corrected, after Discontinued Operations
      Cost of sales
        $
      5,220,200
       
      $
      29,877
       
       
      $
      5,250,077
       
      $
      1,095,887
       
      $
      4,154,190
      Gross profit
         
      3,602,538
       
       
      (29,877
      )
       
       
      3,572,661
       
       
      532,181
       
       
      3,040,480
      Selling, general and administrative expenses
         
      3,407,445
       
       
      2,272
       
       
       
      3,409,717
       
       
      450,479
       
       
      2,959,238
      Operating income (loss)
         
      195,093
       
       
      (32,149
      )
       
       
      162,944
       
       
      81,702
       
       
      81,242
      Income (loss) before provision for income taxes
         
      124,894
       
       
      (32,149
      )
       
       
      92,745
       
       
      81,219
       
       
      11,526
      Provision for income taxes
         
      34,649
       
       
      (6,766
      )
       
       
      27,883
       
       
      21,523
       
       
      6,360
      Net income (loss)
        $
      90,245
       
      $
      (25,383
      )
       
      $
      64,862
       
      $
      59,696
       
      $
      5,166
       
         
       
       
       
       
       
       
       
       
      Basic earnings (loss) per share
        $
      1.52
       
      $
      (0.43
      )
       
      $
      1.09
       
      $
      1.00
       
      $
      0.09
      Diluted earnings (loss) per common share
        $
      1.51
       
      $
      (0.42
      )
       
      $
      1.09
       
      $
      1.00
       
      $
      0.09
      Condensed Consolidated Statement of Cash Flows
      Forty Weeks Ended October 7, 2023
      (in thousands)
        As Previously Reported
       
      Adjustments
       
      As Corrected
       
      Discontinued Operations
       
      As Corrected, after Discontinued Operations
      Net income
        $
      90,245
       
       
      $
      (25,383
      )
       
      $
      64,862
       
       
      $
      59,696
       
       
      $
      5,166
       
      Provision for deferred income taxes
         
      (33,059
      )
       
       
      5,248
       
       
       
      (27,811
      )
       
       

       
       
       
      (27,811
      )
      Other, net
         
      1,499
       
       
       
      937
       
       
       
      2,436
       
       
       

       
       
       
      2,436
       
      Net change in:
         
       
       
       
       
       
       
       
       
      Receivables, net
         
      (170,371
      )
       
       
      (9,519
      )
       
       
      (179,890
      )
       
       
      (18,261
      )
       
       
      (161,629
      )
      Inventories, net
         
      (41,025
      )
       
       
      15,442
       
       
       
      (25,583
      )
       
       
      85,288
       
       
       
      (110,871
      )
      Accounts payable
         
      (191,871
      )
       
       
      28,500
       
       
       
      (163,371
      )
       
       
      (86,035
      )
       
       
      (77,336
      )
      Accrued expenses
         
      145,704
       
       
       
      21,521
       
       
       
      167,225
       
       
       
      (3,892
      )
       
       
      171,117
       
      Other assets and liabilities, net
         
      (45,015
      )
       
       
      (38,316
      )
       
       
      (83,331
      )
       
       
      (11,624
      )
       
       
      (71,707
      )
      Net cash provided by (used in) operating activities
         
      30,404
       
       
       
      (1,570
      )
       
       
      28,834
       
       
       
      57,148
       
       
       
      (28,314
      )
      Other, net (1)
         
      (4,073
      )
       
       
      (937
      )
       
       
      (5,010
      )
       
       

       
       
       
      (5,010
      )
      Net cash provided by financing activities
         
      204,984
       
       
       
      (937
      )
       
       
      204,047
       
       
       
       
       
      Effect of exchange rate changes on cash
         
      (1,942
      )
       
       
      10
       
       
       
      (1,932
      )
       
       
       
       
      Net increase (decrease) in cash and cash equivalents
         
      48,246
       
       
       
      (2,497
      )
       
       
      45,749
       
       
       
       
       
      Cash and cash equivalents, beginning of period
         
      269,282
       
       
       
      1,523
       
       
       
      270,805
       
       
       
      50,670
       
       
       
      220,135
       
      Cash and cash equivalents, end of period
        $
      317,528
       
       
      $
      (974
      )
       
      $
      316,554
       
       
      $
      7,750
       
       
      $
      308,804
       
      (1)
        The summary of corrections table above inadvertently omitted disclosure for proceeds from the issuance of common stock as follows: $3.0 million as previously reported, $0 adjustments and $3.0 million as corrected.
      Reconciliation of Non-GAAP Financial Measures
      The company's financial results include certain financial measures not derived in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Non-GAAP financial measures, including Adjusted Net income, Adjusted EPS, Adjusted SG&A Margin, and Adjusted Operating Income, should not be used as a substitute for GAAP financial measures, or considered in isolation, for the purpose of analyzing our operating performance, financial position or cash flows.
      The company has presented these non-GAAP financial measures as the company believes that the presentation of the financial results that exclude (1) transformation expenses under the company’s turnaround plan, (2) other significant costs and (3) nonrecurring tax expense are useful and indicative of the company's base operations because the expenses vary from period to period in terms of size, nature and significance. These measures assist in comparing the company’s current operating results with past periods and with the operational performance of other companies in the industry. The disclosure of these measures allows investors to evaluate the company’s performance using the same measures management uses in developing internal budgets and forecasts and in evaluating management’s compensation. Included below is a description of the expenses the company has determined are not normal, recurring cash operating expenses necessary to operate the company’s business and the rationale for why providing these measures is useful to investors as a supplement to the GAAP measures.
      Transformation Expenses — Costs incurred in connection with the company's turnaround plan and specific transformative activities related to asset optimization that the company does not view to be normal cash operating expenses. These expenses primarily include:
      Distribution network optimization — Costs primarily relating to the conversion of the stores and DCs to market hubs, including temporary labor, team member severance, long-lived asset write off charges and incremental depreciation, as a result of accelerating depreciation of long-lived assets over a shorter useful life as a result of the optimization plans. Third-party professional services — Costs relating to non-recurring services rendered by third-party vendors assisting with the turnaround initiatives. Other Expenses — Costs incurred by the company that are not viewed as normal cash operating expenses and vary from period to period in terms of size, nature, and significance, including but not limited to executive turnover and incremental costs associated with remediating the company's previously-disclosed material weaknesses in internal control over financial reporting.
      Nonrecurring Tax Expense — Income tax incurred by the company from the book to tax basis difference in the Worldpac Canada stock directly resulting from the sale of Worldpac.
      The following tables include reconciliations of this information to the most comparable GAAP measures:
      Reconciliation of Adjusted Net Income and Adjusted EPS:
       
        Twelve Weeks Ended
       
      Forty Weeks Ended
      (in thousands, except per share data)
        October 5, 2024
       
      October 7, 2023
       
      October 5, 2024
       
      October 7, 2023
      Net (loss) income from continuing operations (GAAP)
        $
      (25,363
      )
       
      $
      (74,186
      )
       
      $
      22,576
       
       
      $
      5,166
       
      Selling, general and administrative
      adjustments:
         
       
       
       
       
       
       
      Transformation expenses:
         
       
       
       
       
       
       
      Distribution network optimization
         
      8,909
       
       
       

       
       
       
      13,943
       
       
       

       
      Third-party professional services
         
      3,582
       
       
       
      50
       
       
       
      5,301
       
       
       
      320
       
      Other charges:
         
       
       
       
       
       
       
      Executive turnover
         
      87
       
       
       
      3,799
       
       
       
      1,561
       
       
       
      5,360
       
      Material weakness remediation
         
      1,293
       
       
       
      429
       
       
       
      3,649
       
       
       
      429
       
      Other significant costs (1)
         
      2,394
       
       
       

       
       
       
      3,491
       
       
       

       
      Provision for income taxes on adjustments (2)
         
      (4,066
      )
       
       
      (1,070
      )
       
       
      (6,986
      )
       
       
      (1,527
      )
      Nonrecurring tax expense
         
      10,000
       
       
       

       
       
       
      10,000
       
       
       

       
      Adjusted net (loss) income (Non-GAAP)
        $
      (3,164
      )
       
      $
      (70,978
      )
       
      $
      53,535
       
       
      $
      9,748
       
       
         
       
       
       
       
       
       
      Diluted (loss) earnings per share from continuing operations (GAAP)
        $
      (0.42
      )
       
      $
      (1.24
      )
       
      $
      0.38
       
       
      $
      0.09
       
      Adjustments, net of tax
         
      0.38
       
       
       
      0.05
       
       
       
      0.52
       
       
       
      0.08
       
      Adjusted EPS (Non-GAAP)
        $
      (0.04
      )
       
      $
      (1.19
      )
       
      $
      0.90
       
       
      $
      0.17
        (1)
        During the twelve and forty weeks ended October 5, 2024, the Company recorded expense of $2.4 million and $3.5 million for costs incurred following a cybersecurity incident that occurred over these periods.
      (2)
        The income tax impact of non-GAAP adjustments is calculated using the estimated tax rate in effect for the respective non-GAAP adjustments.
      Reconciliation of Adjusted Selling, General and Administrative Expenses
       
        Twelve Weeks Ended
       
      Forty Weeks Ended
      (in thousands)
        October 5, 2024
       
      October 7, 2023
       
      October 5, 2024
       
      October 7, 2023
      SG&A (GAAP)
        $
      907,495
       
      $
      896,145
       
      $
      2,954,707
       
      $
      2,959,238
      SG&A adjustments
         
      16,265
       
       
      4,278
       
       
      27,945
       
       
      6,109
      Adjusted SG&A (Non-GAAP)
        $
      891,230
       
      $
      891,867
       
      $
      2,926,762
       
      $
      2,953,129
      Reconciliation of Adjusted Operating Income:
       
        Twelve Weeks Ended
       
      Forty Weeks Ended
      (in thousands)
        October 5, 2024
       
      October 7, 2023
       
      October 5, 2024
       
      October 7, 2023
      Operating income (GAAP)
        $
      403
       
      $
      (78,578
      )
       
      $
      106,697
       
      $
      81,242
      SG&A adjustments
         
      16,265
       
       
      4,278
       
       
       
      27,945
       
       
      6,109
      Adjusted operating income (Non-GAAP)
        $
      16,668
       
      $
      (74,300
      )
       
      $
      134,642
       
      $
      87,351
      NOTE:
        Adjusted SG&A, Adjusted SG&A as a percentage of Net sales, Adjusted operating income and Adjusted operating income margin (calculated by dividing Adjusted operating income by Net sales) are non-GAAP measures. Management believes these non-GAAP measures are important metrics in assessing the overall performance of the business and utilizes these metrics in its ongoing reporting. On that basis, management believes it is useful to provide these metrics to investors and prospective investors to evaluate the company’s operating performance across periods adjusting for these items (refer to the reconciliations of non-GAAP adjustments above). These non-GAAP measures might not be calculated in the same manner as, and thus might not be comparable to, similarly titled measures reported by other companies. Non-GAAP measures should not be used by investors or third parties as the sole basis for formulating investment decisions, as they may exclude a number of important cash and non-cash recurring items.
      Reconciliation of Free Cash Flow: (1)
         
       
       
       
        Forty Weeks Ended
      (in thousands)
        October 5, 2024
       
      October 7, 2023
      Cash flows provided by operating activities of continuing operations
        $
      81,019
       
       
      $
      (28,314
      )
      Purchases of property and equipment
         
      (129,714
      )
       
       
      (174,186
      )
      Free cash flow
        $
      (48,695
      )
       
      $
      (202,500
      )
      Adjusted Debt to Adjusted EBITDAR: (1)
         
       
       
       
        Four Quarters Ended
      (In thousands, except adjusted debt to adjusted EBITDAR ratio)
        October 5, 2024
       
      December 30, 2023
      Total GAAP debt
        $
      1,788,513
       
       
      $
      1,786,361
       
      Add: Operating lease liabilities
         
      2,711,578
       
       
       
      2,660,827
       
      Adjusted debt
        $
      4,500,091
       
       
      $
      4,447,188
       
       
         
       
       
      GAAP Net income
        $
      50,819
       
       
      $
      29,735
       
      Depreciation and amortization
         
      309,566
       
       
       
      306,454
       
      Interest expense
         
      80,559
       
       
       
      88,055
       
      Other expense, net
         
      (16,174
      )
       
       
      (5,525
      )
      Provision for income taxes
         
      23,843
       
       
       
      2,112
       
      Rent expense
         
      638,232
       
       
       
      613,859
       
      Share-based compensation
         
      46,557
       
       
       
      45,647
       
      Other charges (2)
         
      40,091
       
       
       
      12,419
       
      Transformation related charges
         
      27,131
       
       
       
      29,719
       
      Adjusted EBITDAR
        $
      1,200,624
       
       
      $
      1,122,475
       
       
         
       
       
      Adjusted Debt to Adjusted EBITDAR
         
      3.7
       
       
       
      4.0
       
      (1)
        The four quarters ended October 5, 2024, includes the correction of non-material errors the company discovered in previously reported results.
      (2)
        The adjustments to the four quarters ended October 5, 2024, and December 30, 2023, include expenses associated with the company's material weakness remediation efforts and executive turnover.
       
         
      NOTE:
        Management believes its Adjusted Debt to Adjusted EBITDAR ratio (“leverage ratio”) is a key financial metric for debt securities, as reviewed by rating agencies, and believes its debt levels are best analyzed using this measure. The company’s goal is to maintain an investment grade rating. The company's credit rating directly impacts the interest rates on borrowings under its existing credit facility and could impact the company's ability to obtain additional funding. If the company was unable to maintain its investment grade rating, this could negatively impact future performance and limit growth opportunities. Similar measures are utilized in the calculation of the financial covenants and ratios contained in the company's financing arrangements. The leverage ratio calculated by the company is a non-GAAP measure and should not be considered a substitute for debt to net earnings, as determined in accordance with GAAP. The company adjusts the calculation to remove rent expense and to add back the company’s existing operating lease liabilities related to their right-of-use assets to provide a more meaningful comparison with the company’s peers and to account for differences in debt structures and leasing arrangements. The company’s calculation of its leverage ratio may not be calculated in the same manner as other companies, and thus may not be comparable to similarly titled measures used by other companies.
      Store Information
      During the forty weeks ended October 5, 2024, 23 stores were opened and 29 were closed, resulting in a total of 4,781 stores as of October 5, 2024, compared with a total of 4,786 stores as of December 30, 2023.
      The below table summarizes the changes in the number of company-operated stores during the twelve and forty weeks ended October 5, 2024:
       
       
      Twelve Weeks Ended
       
       
      AAP
       
      CARQUEST
       
      Total
      July 15, 2024
       
      4,484
       
       
      292
       
       
      4,776
       
      New
       
      9
       
       

       
       
      9
       
      Closed
       
      (2
      )
       
      (2
      )
       
      (4
      )
      Converted
       
      1
       
       
      (1
      )
       

       
      October 5, 2024
       
      4,492
       
       
      289
       
       
      4,781
       
       
       
      Forty Weeks Ended
       
       
      AAP
       
      CARQUEST
       
      Total
      December 30, 2023
       
      4,484
       
       
      302
       
       
      4,786
       
      New
       
      23
       
       

       
       
      23
       
      Closed
       
      (17
      )
       
      (12
      )
       
      (29
      )
      Converted
       
      2
       
       
      (1
      )
       
      1
       
      October 5, 2024
       
      4,492
       
       
      289
       
       
      4,781
       
       

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      We understand that your vehicle deserves the best. All of our parts are rigorously tested to meet or exceed OEM standards. When you purchase from Clifford Auto Parts, you’re not just buying a product; you’re investing in quality that you can trust.
      2. Fast & Free Shipping Across the U.S.
      We know how important it is to get your car back on the road quickly. That’s why we offer fast, reliable shipping throughout the United States, free of charge. Order today, and we’ll have your parts at your doorstep in no time.
      3. Lifetime Warranty on All Parts
      We stand behind the quality of our products, which is why we offer a lifetime warranty on all parts. If something goes wrong, we’ve got you covered.
      4. Dedicated Customer Support
      Not sure which part you need? Our experienced team is here to assist you. Whether you have questions about compatibility or need help troubleshooting an issue, we’re just a call away.
      Top-Selling Products at Clifford Auto Parts
      Here’s a look at some of our best-selling products:
      🚗 Chevrolet Engine Control Modules (ECM)
      Ensure your Chevy runs smoothly with our top-rated ECMs, designed to optimize engine performance and fuel efficiency.
      🚚 Dodge Powertrain Control Modules (PCM)
      Experience smooth gear shifts and improved performance with our Dodge PCMs, specifically designed to enhance the driving experience.
      🚙 Ford Transmission Control Modules (TCM)
      Our Ford TCMs are engineered to provide precise control over your vehicle’s transmission, ensuring reliability and longevity.
      Customer Testimonials
      "Clifford Auto Parts has been a game-changer for me. The lifetime warranty and free shipping made it an easy decision to choose them over other suppliers. My car's performance has never been better!" – David S., New York
      "I was impressed by the fast shipping and the quality of the parts I received. The customer support team was very helpful in guiding me to the right ECM for my Dodge Ram." – Sarah P., California
      Join the Clifford Auto Parts Community
      Are you tired of dealing with subpar auto parts that leave you stranded on the side of the road? It's time to make the switch to Clifford Auto Parts. Our parts are designed to keep your vehicle performing at its best, ensuring you get the most out of every drive.
      Visit our website today at
      link hidden, please login to view to browse our full range of automotive components.

      Engage with Us We’re always here to help and love connecting with automotive enthusiasts. If you have any questions or need advice on choosing the right parts for your vehicle, don’t hesitate to reach out to us. Let's keep your car running smoothly!
      🔧 Clifford Auto Parts – Driving quality, performance, and satisfaction.


    • By abiztime
      what's the top brake disc aftermarket services in US?

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