AutoZone Earnings: AZO Stock Slips 4% on Q2 Sales Miss

AutoZone (NYSE:AZO) earnings for the retailer of auto parts fiscal second quarter of 2020 have AZO stock down on Tuesday. This follows its diluted earnings per share (EPS) of $12.39, which is better than Wall Street’s estimate of $11.77 per share. Its revenue of $2.51 billion, however, is a different story because it couldn’t reach analysts’ estimates of $2.57 billion.

AutoZone Earnings: AZO Stock Slips 3% on Q2 Sales Miss
Source: Robert Gregory Griffeth / Shutterstock.com

Here’s what else is worth noting from the most recent AutoZone earnings report.

  • Diluted per-share earnings are up 7.83% from $11.49 in the fiscal second quarter of 2019.
  • Revenue for the quarter comes in 2.45% higher than the $2.45 billion from the same time last year.
  • Operating income of $407.94 million is a 1.98% increase year-over-year from $400.02 million.
  • The AutoZone earnings report also includes a net income of $299.28 million.
  • That’s a 1.58% increase from the $294.64 million reported in the same period of the year prior.

Bill Rhodes, chairman, president and CEO of AutoZone, said this about the AZO stock earnings:

“Our sales performance in our fiscal second quarter did not meet our plans or expectations. We had particularly challenging sales in specific weather sensitive categories and geographies, indicating to us that the mild winter was a considerable headwind to our and our industry’s sales performance.”

The AutoZone earnings report doesn’t make mention of its fiscal 2020 outlook. Despite this, we know what Wall Street expects. Analysts are looking for diluted EPS of $65.89 on revenue of $12.21 billion for the year.

AZO stock was down 4.4% as of Tuesday afternoon.

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/2020/03/autozone-earnings-drop-azo-stock-on-sales-miss/.

©2021 InvestorPlace Media, LLC