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AutoZone (AZO) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
zacks.com· 2024-05-21 14:31
Core Insights - AutoZone reported revenue of $4.24 billion for the quarter ended May 2024, reflecting a year-over-year increase of 3.5% [1] - The earnings per share (EPS) for the quarter was $36.69, up from $34.12 in the same quarter last year [1] - The reported revenue fell short of the Zacks Consensus Estimate of $4.29 billion, resulting in a surprise of -1.16%, while the EPS exceeded the consensus estimate of $35.67 by 2.86% [1] Financial Performance Metrics - Same store sales in the domestic market showed no change year-over-year, compared to an average estimate of 2.4% growth [2] - Total square footage was reported at 48,567 Ksq ft, slightly below the estimated 48,658.56 Ksq ft [2] - Square footage per store was 6,712 thousand, compared to the average estimate of 6,726.23 thousand [2] - The total number of AutoZone stores reached 7,236, in line with the average estimate of 7,235 [2] - Domestic store count remained at 6,364, matching the average estimate [2] - Sales per average square foot were $86 thousand, below the average estimate of $91.84 thousand [2] - Sales per average store were $576 thousand, compared to the average estimate of $587.29 thousand [2] - In Mexico, 12 new stores were opened, exceeding the average estimate of 9 [2] - In the domestic market, 32 new stores were opened, slightly below the average estimate of 35 [2] - Net sales for auto parts were $4.16 billion, compared to the average estimate of $4.21 billion, marking a 3.5% year-over-year increase [2] - Net sales from all other categories were $79.07 million, slightly above the estimated $78.39 million, representing a 7.1% year-over-year increase [2] - Domestic commercial sales reached $1.15 billion, below the average estimate of $1.18 billion, with a year-over-year increase of 3.3% [2] Stock Performance - Over the past month, AutoZone shares have returned -1.3%, contrasting with the Zacks S&P 500 composite's increase of 7.1% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]
AutoZone(AZO) - 2024 Q2 - Quarterly Results
2024-05-21 10:55
EXHIBIT 99.1 AutoZone 3rd Quarter Total Company Same Store Sales Increase 0.9%; Domestic Same Store Sales were flat; EPS Increases to $36.69 MEMPHIS, Tenn., May 21, 2024 (GLOBE NEWSWIRE) -- AutoZone, Inc. (NYSE: AZO) today reported net sales of $4.2 billion for its third quarter (12 weeks) ended May 4, 2024, an increase of 3.5% from the third quarter of fiscal 2023 (12 weeks). Same store sales, or sales for our domestic and international stores open at least one year, are as follows: Constant Currency 12 We ...
AutoZone 3rd Quarter Total Company Same Store Sales Increase 0.9%; Domestic Same Store Sales were flat; EPS Increases to $36.69
globenewswire.com· 2024-05-21 10:55
MEMPHIS, Tenn., May 21, 2024 (GLOBE NEWSWIRE) -- AutoZone, Inc. (NYSE: AZO) today reported net sales of $4.2 billion for its third quarter (12 weeks) ended May 4, 2024, an increase of 3.5% from the third quarter of fiscal 2023 (12 weeks). Same store sales, or sales for our domestic and international stores open at least one year, are as follows:        Constant Currency 12 Weeks 12 Weeks*    Domestic0.0% 0.0%International18.1% 9.3%Total Company1.9% 0.9%* Excludes impacts from fluctuations of foreign exchang ...
3 Under-the-Radar Auto Parts Stocks to Buy for Long-Term Growth
investorplace.com· 2024-05-21 10:26
Auto parts stocks often fly under the radar, getting little to no investor attention compared to their larger industry peers. While it’s the big-name car manufacturers that consistently grab headlines and investor focus, auto parts stocks have historically outperformed.Unlike automotive manufacturers, whose sales often fluctuate due to the industry’s cyclical nature, auto parts distributors and retailers experience more stable sales. Even during economic downturns, when new car sales decline, there remains ...
Top 5 Thriving Giants With Solid Upside to Tap Market Rally
zacks.com· 2024-05-20 13:05
U.S. stock markets have resumed momentum with much vigor in May after a brief halt in April. Market participants witnessed an impressive 15-month rally before April. The rebound in May has taken a section of financial experts by surprise as they warned of further downside due to higher stock valuations and the Fed’s decision to keep interest rates higher for longer than expected.Favorable Economic DataWall Street rebounded in early May following a sharp decline in the April job additions, a notable deterior ...
5 Best CEFs This Month For A 10% Yield (May 2024)
seekingalpha.com· 2024-05-19 14:00
Olivier Le Moal In this monthly article, we try to identify five closed-end funds ("CEFs") that have a solid historical performance, pay high enough distributions, and offer reasonable valuations at the current time. We also present a more diversified list of the top 10 funds. Author's Note: This article is part of our monthly series that tries to discover the five best buys in the CEF arena at that time. Certain parts of the introduction, definitions, and sections describing selection criteria/process ...
Wall Street Favorites: 3 Retail Stocks With Strong Buy Ratings for May 2024
investorplace.com· 2024-05-17 20:14
Retail has been a tough game over the last five years. The industry has contended with the pandemic, stores closures and a consumer shift to preferring online shopping. Since Covid-19 receded, retailers have been faced with the biggest surge of inflation in 40 years and the highest interest rates in 25 years. This has led consumers to focus on essentials and cutback their spending on discretionary items. But there are certain retail stocks to buy that still stand a chance in this tightening market. The most ...
AutoZone to Release Third Quarter Fiscal 2024 Earnings May 21, 2024
Newsfilter· 2024-04-30 20:30
MEMPHIS, Tenn., April 30, 2024 (GLOBE NEWSWIRE) -- AutoZone, Inc. (NYSE:AZO), the leading retailer and distributor of automotive replacement parts and accessories in the Americas, will release results for its third quarter ended Saturday, May 4, 2024, before market open on Tuesday, May 21, 2024. Additionally, the Company will host a one-hour conference call on Tuesday, May 21, 2024, beginning at 10:00 a.m. (ET), to discuss the results of the quarter. This call is being webcast and can be accessed, along wit ...
Here's Why AutoZone Will Likely Announce a Stock Split
24/7 Wall Street· 2024-04-13 13:21
Here's Why AutoZone Will Likely Announce a Stock Split Sundry Photography / iStock Editorial via Getty Images History credits Henry Ford with inventing the automobile assembly line. The notion of having a different workstation be responsible for a specific part in a precisely sequenced assembly protocol is a fundamental principle behind mass production and large product manufacturing. Nevertheless, mechanical auto parts are susceptible to excessive wear, breakdown, damage, and other conditions that can re ...
These 2 Magnificent Stocks Have Skyrocketed in the Past. Is It Time to Buy Them Now With $100 and Hold Through 2024 (and Beyond)?
The Motley Fool· 2024-03-24 18:27
When you think about magnificent stocks, I'm sure the "Magnificent Seven" tech-focused and innovative enterprises come to mind. Their returns in the past decade have certainly been spectacular.But there are two lesser-known and definitely more boring companies that have also trounced the market. I'm talking about O'Reilly Automotive (ORLY 0.40%) and AutoZone (AZO 0.90%). The former is up 678% in the past 10 years, while the latter has risen 498% during that time.Should you buy these two skyrocketing retail ...