AutoZone Inc. (NYSE:AZO) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0.59%.
AutoZone Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 23.17% to $10.42 in the quarter versus EPS of $8.46 in the year-earlier quarter.
Revenue: Rose 12.01% to $3.1 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: AutoZone Inc. reported adjusted EPS income of $10.42 per share. By that measure, the company beat the mean analyst estimate of $10.34. It beat the average revenue estimate of $3.09 billion.
Quoting Management: “I would like to thank our entire organization for the solid performance delivered this past quarter. We are pleased to report our twenty-eighth consecutive quarter of double digit growth in earnings per share. Our customer service and trustworthy advice are what differentiate us across our industry, and our AutoZoners’ passion to deliver superior service has allowed us to consistently deliver exceptional financial results. For the year, we reached many new milestones which included surpassing $9 billion in total sales, opening 368 additional Commercial programs, acquiring AutoAnything, and opening three stores in Brazil. We also improved our return on invested capital from the third quarter, achieving 32.7% at year end. While our same store sales performance was below our expectations for the quarter, we believe the initiatives we have in place will lead to improved sales in both Retail and Commercial in 2014. We remain committed to delivering exceptional customer service while growing our Retail, Commercial, International, and digital commerce businesses. We will maintain our disciplined approach to growing operating earnings and utilizing our capital effectively,” said Bill Rhodes, Chairman, President and Chief Executive Officer.
Key Stats (on next page)…