AutoZone Q1 earnings fall short of expectations despite year-over-year revenue growth

From Nasdaq: 2024-12-12 10:58:00

AutoZone Inc. (AZO) reported Q1 fiscal 2025 earnings of $32.52 per share, missing the Zacks Consensus Estimate of $33.54. Net sales were $4.28 billion, up 2.1% YoY. Domestic commercial sales reached $1.13 billion, with same-store sales up 0.3%. Gross profit increased to $2.27 billion, but operating profit decreased to $841 million.

AutoZone opened 23 new US stores, six in Mexico, and five in Brazil in Q1. Total store count reached 7,387. Inventory per store was $849,000, up 8.7% YoY. The company also repurchased 160,000 shares for $505.2 million, with $1.7 billion remaining for repurchases.

AutoZone had cash of $304 million and total debt of $9.01 billion as of Nov. 23, 2024. The company carries a Zacks Rank #4 (Sell). Better-ranked stocks include Dorman Products, Inc. (DORM), Tesla, Inc. (TSLA), and Blue Bird Corporation (BLBD), each with a Zacks Rank #1 (Strong Buy).

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Read more at Nasdaq: AutoZone Q1 Earnings Miss Expectations, Revenues Rise Y/Y