.September 24, 2024 at 2:21 PM

AutoZone (NYSE:AZO) reported fourth-quarter earnings below analyst expectations, causing a more than 2% drop in stock price today. Adjusted earnings per share were $48.11, missing the Street estimate of $53.61. Revenue for the quarter was $6.2 billion, slightly below the expected $6.23 billion, with a 9.0% year-over-year increase. Same-store sales grew by 0.7%, with domestic same-store sales up 0.2%. Challenges in discretionary merchandise categories affected performance, but Commercial sales showed improvement. Full fiscal year 2024 sales were $18.5 billion, up 5.9% from the prior year, with earnings per share at $149.55.