AutoZone Inc Earnings: Off the Revenue Estimate Mark

S&P 500 (NYSE:SPY) component AutoZone Inc (NYSE:AZO) reported its results for the first quarter. AutoZone is a specialty retailer of automotive replacement parts and accessories, offering an extensive line for cars, sport utility vehicles, vans, and light trucks.

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AutoZone Inc Earnings Cheat Sheet

Results: Net income for AutoZone Inc rose to $203.5 million ($5.41 per share) vs. $191.1 million ($4.68 per share) in the same quarter a year earlier. This marks a rise of 6.4% from the year-earlier quarter.

Revenue: Rose 3.5% to $1.99 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: AutoZone Inc was about in line with expectations as the mean analyst estimate of $5.40 per share. It fell short of the average revenue estimate of $2.13 billion.

Quoting Management: “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:

The company has now seen its net income rise for three quarters in a row. In the fourth quarter of the last fiscal year, net income rose 7.4% and in the third quarter of the last fiscal year, the figure rose 9.3%.

Revenue has increased for four consecutive quarters. Revenue increased 4.6% to $2.76 billion in the fourth quarter of the last fiscal year. The figure rose 6.7% in the third quarter of the last fiscal year from the year earlier and climbed 8.6% in the second quarter of the last fiscal year from the year-ago quarter.

The company has now beaten estimates the last two quarters. In the fourth quarter of the last fiscal year, it topped expectations with net income of $8.46 versus a mean estimate of net income of $8.39 per share.

Looking Forward: Expectations for the second quarter have not changed from $4.80. Over the past three months, the average estimate for the fiscal year has climbed from $27.14 per to share to $27.58.

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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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