Jefferies Notes ‘More Consistently Positive’ Q3 Through August

Channel feedback suggests that automotive aftermarket service demand is still outperforming DIY, according to the September 2019 Monthly Tune-Up from Jefferies LLC.

“Commentary in early September suggests Q3 trends through August are more consistently positive versus weather-related volatility seen in Q2,” analysts Bret Jordan, Mark Jordan and Ethan Huntley wrote. “Although, some regional disruption was noted in the Southeast in early September, given uncertainly regarding Hurricane Dorian’s path.”

The Jefferies team also stated that heat appears to be a meaningful contributor, noting that warmer-than-average summer temperatures appear to be driving strength in such categories as temperature control, which underperformed during a historically cold and wet spring.

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