Advance Auto Parts Inc. (AAP) stock plummeted 8.46% in pre-market trading on Wednesday, following the release of its fourth-quarter results and outlook for the current fiscal year.

The auto parts retailer reported a wider-than-expected adjusted loss of $1.18 per share for the fourth quarter, compared to a loss of $0.45 per share in the prior-year period. While this beat analysts' expectations slightly, net sales of $2 billion declined from $2.01 billion a year earlier and came in below the $1.93 billion consensus estimate.

Looking ahead, Advance Auto Parts forecasted a disappointing outlook for fiscal 2025. The company projected adjusted earnings of $1.50 to $2.50 per share, with revenue projected between $8.4 billion and $8.6 billion. Analysts had expected earnings of $1.54 per share on $8.52 billion in sales for the year. Furthermore, the company expects first-quarter same-store sales to decline by approximately 2%, below the consensus estimate of a 0.7% drop.