AutoZone Earnings: AZO Stock Races 7% Higher on Q1 Beat

AutoZone (NYSE:AZO) earnings for the automotive parts retailer’s fiscal first quarter of 2020 have AZO stock heading higher on Tuesday. This comes from its diluted earnings per share of $14.30 for the quarter. That’s above Wall Street’s estimate of $13.77 per share. Revenue of $2.79 billion was also better than analysts’ estimates of $2.77 billion for the period.

AutoZone Earnings: AZO Stock Races 7% Higher on Q1 Beat
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Now for a closer look at the most recent AutoZone earnings report.

  • Diluted per-share earnings are up 6.61% compared to $13.47 in fiscal Q1 2019.
  • Revenue is sitting 5.68% higher than the $2.64 billion reported during the same time last year.
  • That increase in revenue was fueled by domestic same-store sales increasing by 3.4% from the fiscal first quarter of the previous year.
  • Operating income of $500.02 million is a 2.51% increase YoY from $487.82 million.
  • The AutoZone earnings report also includes a net income of $350.34 million.
  • That’s a slight drop from its net income of $351.41 million in the same period of the year prior.

Bill Rhodes, Chairman, President and CEO of AutoZone, says this about the AZO stock earnings.

“I would like to thank and congratulate our entire organization for delivering solid sales and earnings in our first fiscal quarter. Our business strengthened during the quarter with accelerated growth in both Retail and Commercial. The hard work of our AutoZoners and their dedication to providing superior customer service, again drove our strong quarterly performance.”

AZO stock was up 7.01% as of Tuesday afternoon. The stock is also up 39.42% since the start of the year.


Article printed from InvestorPlace Media, https://investorplace.com/2019/12/autozone-earnings-send-azo-stock-racing-higher/.

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