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AutoZone Stock Surges on Q1 Earnings Beat

AutoZone stock was on the rise Tuesday after releasing a solid earnings report for its fiscal first quarter of 2019.

AutoZone Stock Surges on Q1 Earnings Beat

AutoZone (NYSE:AZO) reported earnings per share of $13.47 for its fiscal first quarter of the year. This is an increase over the company’s earnings per share of $10.00 from the same time last year. It was also a boon to AutoZone stock by beating out Wall Street’s earnings per share estimate of $12.21 for the quarter.

During its fiscal first quarter of 2019, AutoZone reported net income of $351.41 million. The retailer of car parts, tools and accessories reported net income of $281.00 million for its fiscal first quarter of 2018.

AutoZone’s earnings report for its fiscal first quarter of the year also includes operating profit of $487.82 million. This is better than the company’s operating profit of $468.75 million from the same period of the year prior.

Revenue reported by AutoZone for its fiscal first quarter of 2019 came in at $2.64 billion. This is up from the company’s revenue of $2.59 billion from its fiscal first quarter of the previous year. It was also good news for AutoZone stock by matching analysts’ revenue estimate for the period.

AutoZone notes that its domestic same-store sales for its fiscal first quarter of the year were up 2.7%. The company’s domestic same-store sales were up 2.3% during the same period in the previous year.

AZO stock was up 6% as of noon Tuesday and is up 11% since the start of the year.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2018/12/autozone-stock-surges-on-q1-earnings-beat/.

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