AutoZone Earnings: Why AZO Stock Is Driving 5% Lower Today

AutoZone (NYSE:AZO) earnings for its fiscal fourth quarter of 2019 has AZO stock falling on Tuesday. The drop comes from the company’s earnings per share of $20.95 missing Wall Street’s estimate of $21.80. Net sales for the quarter comes in at $3.99 billion, which is above analysts’ estimate of $3.93 billion.

AutoZone Earnings: Why AZO Stock Is Driving 5% Lower Today
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Here are some more highlights from the fiscal fourth-quarter AutoZone earnings report.

  • Revenue for the quarter was up 12% from the $3.56 billion reported in the same period of the year prior.
  • Domestic same-store sales for the period were up 3%.
  • Earnings per share were up roughly 13% YoY.
  • AutoZone earnings for the quarter also include operating profit of $780.78 million.
  • That’s a 32% increase over its operating profit of $591.24 million in its fiscal fourth quarter of 2018.
  • Gross profit, as a percentage of sales, for the most recent quarter comes in at 53.40%, compared to 53.60% for the same time last year.
  • Operating expenses, as a percentage of sales, were 33.80%.
  • For comparison, operating expenses, as a percentage of sales, for the fiscal fourth quarter of 2018 was 37.00%
  • AZO contributes the change to termination fees of $130.30 million and an additional week of sales for the same time in 2018.
  • The AutoZone earnings report also has net income for the quarter sitting at $565.23 million.
  • This is up 41% from the auto part retailer’s net income of $400.28 million in the second quarter of the previous year.

AZO stock was down 5% as of Tuesday afternoon, but is up 37.50% 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/2019/09/autozone-earnings-hits-azo-stock/.

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