AutoZone (AZO) Tops Q4 EPS by 2c

AutoZone (NYSE: AZO) reported Q4 EPS of $11.28, $0.02 better than the analyst estimate of $11.26. Revenue for the quarter came in at $3 billion versus the consensus estimate of $3.07 billion.

Comps rose 2.1%.

"I would like to thank our entire organization for the solid performance delivered this past fiscal year. We are pleased to report that the fourth quarter of fiscal 2014, on a 16 week adjusted basis, marked our thirty-second consecutive quarter of double digit earnings per share growth. Since our inception, we've been committed to providing exceptional customer service and trustworthy advice that we see as the differentiator across our industry. Simply put, our AutoZoners' passion to live our Pledge has allowed us to continue to deliver consistent, exceptional financial results. For the year, we reached many milestones which included generating over one billion dollars in net income (on a 52 week basis), opening 424 net additional Commercial programs, and reaching an agreement to acquire Interamerican Motor Corporation (IMC). As we have routinely stated, we will remain committed to our disciplined approach to growing operating earnings and utilizing our capital effectively," said Bill Rhodes, Chairman, President and Chief Executive Officer.

The Company's inventory increased 9.8% over the same period last year, driven by increased product placement and new stores during the fiscal year. Inventory per store was $582 thousand versus $550 thousand last year and $594 thousand last quarter. Net inventory, defined as merchandise inventories less accounts payable, on a per store basis was a negative $87 thousand versus negative $86 thousand last year and negative $84 thousand last quarter.

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

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