Categories Earnings, Industrials

AutoZone overtakes market expectations in Q4

AutoZone (NYSE: AZO), a leading retailer of automotive replacement parts, said its earnings for the fourth quarter rose to $22.59 per share, compared to $15.02 per share a year ago, helped by higher revenues. The bottom-line was better than analysts’ prediction of $21.80 per share.

Revenue for the quarter rose 12.1% to $4 billion, on strong domestic store sales. Since the fourth quarter of last year, AutoZone has consistently reported solid domestic store sales, riding on improved product placement. Wall Street was expecting revenues of $3.93 billion.

Domestic same-store stores increased by 3% in Q4.

AutoZone (NYSE: AZO) said its earnings for the fourth quarter rose to $22.59 per share, compared to $15.02 per share a year ago,

For the full year, sales were $11.9 billion, an increase of 5.7% from the prior year.

READ: How to safeguard your portfolio in a recession-driven bear market

AZO stock was modestly up during pre-market trading hours on Tuesday. AutoZone is one of the better-performing stocks this year, rising over 38% in the year-to-date period.  The S&P 500 index has increased just 19.7% during the same period.  

However, the high valuation has led to a recent spike in short interest in the stock. At the end of August, the company had 16.7% more short interest than in July.

On the other hand, it may be noted that AutoZone is likely to outperform markets in the event of a recession, as people delay purchases of new cars and keep repairing the old ones.

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Most Popular

Does Unity Software (U) stock has more room to run?

Last month, the IPO market was in a full swing. IPOs of Snowflake (NYSE: SNOW) and JFROG (NASDAQ: FROG) had an impressive opening day in September, the former creating a

PepsiCo (PEP): Steady snacking habits amid pandemic drive strong quarter for beverage giant

PepsiCo Inc. (NASDAQ: PEP) beat market expectations on both revenue and earnings for the third quarter of 2020. The company saw the momentum continue in its snacks business while the

Does the virus-driven boom make Electronic Arts (EA) a good investment?

With more and more people turning to virtual entertainment sources, amid the virus-related movement restrictions, video game publishers like Electronic Arts (NASDAQ: EA) are witnessing unusually high demand. Not surprisingly,

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top