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AutoZone Passes Analysts on Q1 Profits

By  +Follow December 10, 2013 10:27AM
Tickers Mentioned:

AutoZone, Inc. (AZO) , the biggest auto parts retailer in the United States (for now), on Dec. 10 reported a larger-than-expected profit during the first quarter of fiscal 2013 as margins edged ahead and sales picked-up.

For the quarter ended November 23, the Memphis-based company said that revenue rose by 3.6 percent to $2.1 billion from $1.99 billion in last year’s quarter.  Net income for the quarter totaled $218.09 million, or $6.29 per share, versus $203.45 million, or $5.41 per share, in the year prior quarter.  The company has reported 29 straight quarter of double-digit earnings per share growth.

Wall Street was expecting earnings of $6.28 per share on revenue of $2.1 billion.

Gross profit as a percentage of sales was 51.9 percent, compared to 51.8 percent in Q1 fiscal 2012.  At the same time, operating expenses were down by 10 basis points to 33.5 percent of sales, as the company shifted the timing of advertising expenditures.

Sales at stores open more than one year rose by 0.9 percent.  An unseasonably cold October and storms in November help drive sales at places like AutoZone, as do-it-yourselfers cope with wear and tear brought on by bad weather.  The storms that are blasting a wide swath of the eastern half of the U.S. in December could also provide a boon for sales in the current quarter. 

AutoZone opened seven new domestic locations, one in Mexico and one in Brazil, the fourth largest auto market in the world and a country of strategic growth focus for AutoZone.  All accounted for, AutoZone has more than 5,200 locations.  The opening of new stores helped drive inventory higher by 9.1 percent in the quarter.

“Additionally, rolled out an exciting, new version of our electronic parts catalog, and we grew sales across our digital commerce businesses,” said Bill Rhodes, chairman, president and chief executive at AutoZone, in a statement this morning.

AutoZone will be bumped down to the number two position in the list of biggest U.S. auto parts retailers early in 2014 when Advance Auto Parts (AAP) completes its $2-billion acquisition of General Parts International Inc.  That merger will create a retail giant with $9.2 billion in annual sales.

During the quarter, AutoZone repurchased 678,000 common shares for an aggregate amount of $292 million.  The company still has $177 million left in a current buy-back plan.

Shares have cruised ahead by nearly 4 percent in Tuesday morning trading to $474.71.  Shares have grown by about 33 percent so far in 2013 to all-time highs.

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Results for AZO
FinSentS SP500
29 Nov 15 07:08:24
$AZO:US AutoZone Receives $760.90 Consensus Target Price from Analysts (NYSE:AZO) #AUTOZONE INC https://t.co/67p0M02zfX #SP500
29 Nov 15 07:08:02
$AZO: AutoZone receives $ 760.90 analysts ‘ Consensus Target Price …: https://t.co/JuTuFU673A
Breaking News
29 Nov 15 06:43:02
$AZO: AutoZone will receive $ 760.90 analyst consensus target price …: https://t.co/TpCGyALFE9
29 Nov 15 03:58:03
$AZO: AutoZone Receives $760.90 Consensus Target Price from Analysts …: https://t.co/ISgdq6faml
27 Nov 15 22:51:32
XLB Energy Select Sector SPDR Day Low https://t.co/JT3vlOVzhM $XLB $NNN $AZO $CAT #XLB #stock #finance
27 Nov 15 22:39:05
GPRO GoPro, Inc. Company Info https://t.co/jDyFvNB35C $GPRO $AZO $TCK $GPRO #GPRO #share #stockmarket
Stock Forums
27 Nov 15 22:37:33
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27 Nov 15 22:33:36
AZO Autozone Inc. Nevada P/E Ratio https://t.co/i1R98xWQKd $AZO $UUP $BABA $XLI #AZO #stocks #share
27 Nov 15 22:33:34
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Bull Market Report
27 Nov 15 12:59:55
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27 Nov 15 12:52:58
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Investors Hangout
27 Nov 15 12:37:08
ESL.TO Enghouse Systems Ltd. Shares https://t.co/cnPjjdbpOl $ESL.TO $AGQ $AZO $EFA #ESL.TO #tradeideas #stock
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Stock Forums
27 Nov 15 10:43:33
MXWL MyECheck, Inc. Shares https://t.co/pnrqGFaHhj $MXWL $JNJ $MDXG $AZO #MXWL #stockmarket #stockmarket
27 Nov 15 10:34:03
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27 Nov 15 08:20:24
$SALE breakout on #BlackFriday! Up 5% target $12.50. 5.7 EV/EBITDA, $60M stock buyback plan in Q4 https://t.co/qM8kTQpx0i $CF $PRGO $AZO
Hammer D. Lane
27 Nov 15 08:14:00
$AZO coiled spring!
27 Nov 15 01:13:30
Brokerages Set AutoZone PT at $760.90 $AZO https://t.co/jkLPOjObjz
27 Nov 15 01:04:02
$AZO: Brokerages Set AutoZone PT at $760.90 (NYSE:AZO): https://t.co/A7XKdYt3ug
Sleek Money
27 Nov 15 00:58:39
Brokerages Set AutoZone PT at $760.90 $AZO https://t.co/OIkZESsTjA
26 Nov 15 11:38:02
$AZO: Autozone Incorporated (NYSE:AZO) Sellers Covered 1.11% of Their …: https://t.co/9KqDzg71uU
26 Nov 15 07:20:29
RT @DailyStockPlays: Parabolic SAR Buy https://t.co/jl4tl7NCos $AZO $TSLA $MSTR $IYH $CHDN $WSO $SHV $UNF $HAR $AGU $RH $SXI $DXCM $PBYI $M…
26 Nov 15 07:04:47
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26 Nov 15 00:55:02
$AZO: Wall Street analysts bullish on AZO's earnings growth: https://t.co/Ul7vaIm1OH https://t.co/ZFMqqlI1uz
25 Nov 15 22:45:58
Black Friday $SALE on #stockmarket. Cash-rich, 5.7 EV/EBITDA, $60M stock buyback plan in Q4. Read: https://t.co/qM8kTQpx0i $CF $PRGO $AZO
25 Nov 15 18:49:20
TWM ProShares UltraShort Russell 2000 Fund % Change https://t.co/8cxL1WLIG9 $TWM $AMGN $AZO $NATI #TWM #invest #investing
Investors Hangout
25 Nov 15 18:43:32
MU Micron Technology, Inc. 52Wk Low https://t.co/QXVkJ0LCLm $MU $AZO $HRL $KRE #MU #investing #invest
Investors Hangout
25 Nov 15 18:41:36
JD https://t.co/jg8OezNi53, Inc. Volume https://t.co/S7fxrAeuq2 $JD $UAL $AZO $XIV #JD #tradeideas #share
25 Nov 15 18:41:03
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Investors Hangout
25 Nov 15 18:34:19
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Lucky Jimmy
25 Nov 15 18:34:10
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25 Nov 15 17:00:55
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Brent Adamson
25 Nov 15 12:30:46
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BNK Invest
25 Nov 15 12:00:25
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Binary Trader Pro
25 Nov 15 11:55:37
RT https://t.co/Fwqo2VWlIa $AZO received a new alert. Find out why at https://t.co/A7XURrQmbD #stocks #daytrading #trading #mkt #NYSE #N…
Media Sentiment
25 Nov 15 11:52:36
$AZO received a new alert. Find out why at https://t.co/nZwqReM0tj #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 410
Market Int Center
25 Nov 15 11:50:34
AutoZone $AZO Showing Bullish Technicals With Support At $767.07 ( https://t.co/8qlFjRE8vw )
25 Nov 15 11:18:09
Undervalued cash-rich retailer due for gains on Black Friday; $60M stock buyback plan in Q4 $SALE https://t.co/qM8kTQpx0i $CF $PRGO $AZO
Hammer D. Lane
25 Nov 15 10:05:46
$AZO $ORLY rate increase could move auto part shares skyward!
Don Vandenbord
25 Nov 15 09:01:30
RT @TJReazor: $AZO is 1 of my favorite stocks and this setup into earnings looks great... cc @1DannyStewart @dvandenbord https://t.co/grtBd…
Dan Stewart, CFA
25 Nov 15 08:55:43
RT @TJReazor: $AZO is 1 of my favorite stocks and this setup into earnings looks great... cc @1DannyStewart @dvandenbord https://t.co/grtBd…
Timothy Reazor
25 Nov 15 08:52:07
$AZO is 1 of my favorite stocks and this setup into earnings looks great... cc @1DannyStewart @dvandenbord https://t.co/grtBdb3m1g
25 Nov 15 08:22:32
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Sleek Money
25 Nov 15 00:58:37
AutoZone Given “BBB” Credit Rating $AZO https://t.co/2rpofyumlP
25 Nov 15 00:57:38
AutoZone Given “BBB” Credit Rating $AZO https://t.co/ABTylDYOrv
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25 Nov 15 00:23:41
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24 Nov 15 20:39:03
Large Cap Best & Worst Report - November 24, 2015 $ALK $AMT $ASR $AVB $AZO $COO $DIS $DNR $GG $GM $HRL $KGC $MTD https://t.co/X730YDVBtL
Capital Market Labs
24 Nov 15 18:00:47
$AZO Very High Fundamental Rating https://t.co/J36xyxny6i https://t.co/ciYaOUomN3
By  +Follow December 10, 2013 10:27AM



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