AutoZone's Q3 EPS exceeded expectations at $36.69, but revenues of $4.235bn missed consensus; lower sales due to tax refund timing and cooler weather.
AutoZone's Q3 earnings per share beat expectations at $36.69, but revenues of $4.235bn missed the analyst consensus of $4.298bn. Lower sales were attributed to tax refund timing and cooler weather. The company opened 45 new stores, increasing its total to 7,236. Despite revenue disappointment, AutoZone's domestic same-store sales increased 0.9% and the company has $1.4bn remaining in its share repurchase authorization.
May 21, 2024
6 Articles