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AutoZone (AZO) Q1 Earnings in line with Estimates, Up Y/Y
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AutoZone, Inc. (AZO - Free Report) is one of the nation’s leading specialty retailers of automotive replacement parts and accessories, operating in the Do-It-Yourself (“DIY”) retail, Do-It-for-Me (“DIFM”) commercial and other customer markets. The company is focused on increasing sales through store expansion and boosting earnings per share via an aggressive share repurchase program.
However, AutoZone has been facing challenges in terms higher expenses related to opening new distribution centers and increasing the frequency of delivery to stores.
Estimate Trend & Surprise History
Investors should note that the first quarter (ended Nov 19, 2016) of fiscal 2016 earnings estimates for AutoZone have been stable over the past week and month.
Meanwhile, the company delivered positive earnings surprises in three of the trailing four quarters with an average beat of around 1.12%. Investors have been eagerly awaiting AutoZone’s latest earnings report to see whether it delivers an earnings beat in the first quarter.
We have highlighted some of the key stats from the company’s earnings announcement below:
Earnings
AutoZone reported earnings of $9.36 per share in the first quarter of fiscal 2017, in line with the Zacks Consensus Estimate of $9.36. Earnings were 13% higher than $8.29 generated in the year-ago quarter.
Revenues
AutoZone logged revenues of $2.47 billion, marginally missing the Zacks Consensus Estimate of $2.49 billion. However, revenues were 3.4% higher than a year-ago.
Key Stats/Developments to Note
In the first quarter of fiscal 2017, AutoZone repurchased 478,000 shares for $363 million, reflecting an average price of $759 per share. The company had shares worth $783 million remaining for repurchase at the end of the quarter.
Market Reaction
AutoZone’s shares were rising in pre-market trading following the release. Clearly, the initial reaction to the news is positive.
Check back later for our full write up on AutoZone’s earnings report!
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AutoZone (AZO) Q1 Earnings in line with Estimates, Up Y/Y
AutoZone, Inc. (AZO - Free Report) is one of the nation’s leading specialty retailers of automotive replacement parts and accessories, operating in the Do-It-Yourself (“DIY”) retail, Do-It-for-Me (“DIFM”) commercial and other customer markets. The company is focused on increasing sales through store expansion and boosting earnings per share via an aggressive share repurchase program.
However, AutoZone has been facing challenges in terms higher expenses related to opening new distribution centers and increasing the frequency of delivery to stores.
Estimate Trend & Surprise History
Investors should note that the first quarter (ended Nov 19, 2016) of fiscal 2016 earnings estimates for AutoZone have been stable over the past week and month.
Meanwhile, the company delivered positive earnings surprises in three of the trailing four quarters with an average beat of around 1.12%. Investors have been eagerly awaiting AutoZone’s latest earnings report to see whether it delivers an earnings beat in the first quarter.
AUTOZONE INC Price and EPS Surprise
AUTOZONE INC Price and EPS Surprise | AUTOZONE INC Quote
Zacks Rank
AutoZone currently has a Zacks Rank #3 (Hold), but that could change following its earnings report which was just released. Meanwhile, you can see the complete list of today’s Zacks #1 Rank stocks here.
We have highlighted some of the key stats from the company’s earnings announcement below:
Earnings
AutoZone reported earnings of $9.36 per share in the first quarter of fiscal 2017, in line with the Zacks Consensus Estimate of $9.36. Earnings were 13% higher than $8.29 generated in the year-ago quarter.
Revenues
AutoZone logged revenues of $2.47 billion, marginally missing the Zacks Consensus Estimate of $2.49 billion. However, revenues were 3.4% higher than a year-ago.
Key Stats/Developments to Note
In the first quarter of fiscal 2017, AutoZone repurchased 478,000 shares for $363 million, reflecting an average price of $759 per share. The company had shares worth $783 million remaining for repurchase at the end of the quarter.
Market Reaction
AutoZone’s shares were rising in pre-market trading following the release. Clearly, the initial reaction to the news is positive.
Check back later for our full write up on AutoZone’s earnings report!
Zacks' Top Investment Ideas for Long-Term Profit
How would you like to see our best recommendations to help you find today’s most promising long-term stocks? Starting now, you can look inside our portfolios featuring stocks under $10, income stocks, value investments and more. These picks, which have double and triple-digit profit potential, are rarely available to the public. But you can see them now. Click here >