AutoZone (AZO) Tops Q1 EPS by 5c; Comps Light of Views

(Updated - December 6, 2016 7:13 AM EST)

AutoZone (NYSE: AZO) reported Q1 EPS of $9.36, $0.05 better than the analyst estimate of $9.31. Revenue for the quarter came in at $2.5 billion versus the consensus estimate of $2.49 billion.

Comps rose 1.6 percent, versus a gain of 1.9 percent expected by analysts.

“I would like to thank our entire organization for delivering another quarter of very solid results. We are pleased to report our forty-first consecutive quarter of double digit earnings per share growth. We remain committed to providing superior customer service and trustworthy advice. For the quarter, we reached record first quarter sales and earnings per share while opening 21 new locations and 35 Commercial programs. We also continued with the rollout of our inventory availability initiatives, including expanding our multi-deliveries per week to 161 net additional stores. We will continue with our deliberately-paced multiple delivery rollouts in 2017, and we will continue to open more Mega Hub locations. We have opened our second distribution center in Mexico, and we are in the process of building two new domestic distribution centers. We believe these initiatives will allow us to continue to meet our customers’ needs across all selling channels. As we continue to invest capital in all our businesses, we remain committed to our disciplined approach of increasing operating earnings and utilizing our capital effectively,” said Bill Rhodes, Chairman, President and Chief Executive Officer.

For earnings history and earnings-related data on AutoZone (AZO) click here.

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