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AutoZone Passes Analysts on Q1 Profits

By  +Follow December 10, 2013 10:27AM
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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.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


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Results for AZO
Paul Johnson
28 Jan 15 09:46:54
Here's AutoZone's $AZO ~$33/share move in 7 trading days. (Chart courtesy of http://t.co/kkWrfGpRlg) http://t.co/aGWdfRu9d4
ProTradersNews
28 Jan 15 08:31:07
$AZO: Investors Buy AutoZone, Inc. on Weakness: http://t.co/dm7hGwqrD7
TakingStock614
28 Jan 15 06:46:15
$AZO I said a couple weeks ago to watch for a retest of 563 well we got 569 and now stocks back up headed towards highs.
Penny Stock Secret
27 Jan 15 19:08:06
This Guy Turned $100 into over $10,000 In Just 30 Days! http://t.co/vezCDY95do .. $AZN $AZO $AZZ
Jake13
27 Jan 15 16:48:31
Stocks Trending Now: http://t.co/j1I70Q28lk $MSLI $AZO $CHYR $CSBK $AALCP $BALT $ILISF $WRE $TROVW $FSCFL $GJS $YDWAF ~
TalkMarkets Recap
27 Jan 15 14:33:35
Large Cap Best & Worst Report - January 27, 2015 $AZO $CTAS $HCN $AET $MYL $AU $C $NRG $GGB $NMR http://t.co/fKRYSir5K5
Quang Doan
27 Jan 15 11:45:14
so it is easy to rigged $NFLX with low volume trading..... back and forth like $AZO....
Media Sentiment
27 Jan 15 09:16:24
$AZO received a new alert. Find out why at http://t.co/5lwmDm2SCs #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 332
Market Int Center
27 Jan 15 09:13:20
AutoZone $AZO Showing Bullish Technicals With Support At $596.33 ( http://t.co/15Zfz606Hq )
TalkMarkets
27 Jan 15 07:55:04
Large Cap Best & Worst Report - January 27, 2015 $AZO $CTAS $HCN $AET $MYL $AU $C $NRG $GGB $NMR http://t.co/jaOd9HUXia
Hammer D. Lane
26 Jan 15 18:54:26
@Benzinga @weatherchannel $AZO just sayin!
Lucky Jimmy
26 Jan 15 18:48:53
AZO Stock up +1.35% percent Today $AZO High is at 612.61 and the Low 600.52 with current volume of 247,148. Au http://t.co/4gEORMNuAi
Lucky Jimmy
26 Jan 15 18:48:31
$AZO AZO up +1.35% percent Today $AZO Stock High is at 612.61 and the Low 600.52 with current volume of 247,148. Au http://t.co/Nt2AelISmS
Vaughn Okumura
26 Jan 15 13:30:38
currently 259.6% net long…ended the day up 1.37% thanks to $ROP (+4.0%), $NVO (+2.9%), $CASY (+2.8%), $AZO (+1.3%) and $ABC (+1.2%)
Zubeyr Kamil Açıksar
26 Jan 15 12:10:22
RT @StkConfidential: $AZO now about $31/share above the buy point in my January 18th subscriber update.
Paul Johnson
26 Jan 15 12:08:57
$AZO now about $31/share above the buy point in my January 18th subscriber update.
Spirit Capital
26 Jan 15 11:54:49
Pissed I missed both $AZO & $CMG backtests over last week. I thought I'd get both a little lower #trading #greed
ProTradersNews
26 Jan 15 07:41:06
$AZO: Company Watch: AutoZone Inc. (NYSE:AZO): http://t.co/fbjobNbwMc
lookn4wins
24 Jan 15 05:33:33
Stocks Trending Now: http://t.co/3At6WLra8p $NU $ROFO $FTPLF $DBMXF $SURDF $TCLRY $ESIO $GOMRF $HNHPF $MWCAF $AZO $DRYS ~
lookn4wins
24 Jan 15 03:00:11
Stocks Trending Now: http://t.co/3At6WLra8p $SMXMF $MAQAF $BMICF $NCIT $AZO $HSOL $SSP $ERDCF $ORI $XKE $ORPB $GNIXF ~
Paul Johnson
23 Jan 15 09:22:10
$AZO now nearly $22 above the buy point in my Sunday update...and the hits just keep comin.'
TickerChirp
23 Jan 15 09:07:35
Hot Tweets Pertaining to $AZO (Autozone Inc symbol AZO) on 01/23/2015 http://t.co/oUd2E2Aaq4
RB Options Scans
23 Jan 15 07:35:44
$azo is another stock fighting the 20 dma
MoneyMakingStocks
22 Jan 15 21:44:00
RT @CloudTrading: **TOP 4 #Stocks w/ Bullish Ichimoku Set Ups, Daily Chart** $ADP $AZO $CAG $ORLY http://t.co/f6Z5S55zLn
θptions•Dt
22 Jan 15 21:16:52
**TOP 4 #Stocks w/ Bullish Ichimoku Set Ups, Daily Chart** $ADP $AZO $CAG $ORLY http://t.co/f6Z5S55zLn
Swing Trader
22 Jan 15 13:09:22
Entered $AZO and $NLNK. Now at 10 of 10, and it felt like throwing darts. Enjoy while it lasts.
Paul Johnson
22 Jan 15 11:19:51
Reversal pick $AZO now ~$17/share above my Sunday buy point, and LOTS of other leaders moving nicely today.
ProTradersNews
22 Jan 15 07:26:06
$AZO: AutoZone Given "BBB" Credit Rating by Morningstar (AZO): http://t.co/Iz8yS52j2a
Sleek Money
22 Jan 15 07:21:02
AutoZone Given “BBB” Credit Rating by Morningstar $AZO http://t.co/53hLcPRCRH
Hammer D. Lane
22 Jan 15 07:01:19
$AZO target $633! ,.....http://t.co/7wc1ABz9hX
4-traders.com
22 Jan 15 02:11:24
#AutoZone : Ethos snaps up stake in AutoZone http://t.co/f7Wxo51Pcf $AZO
4-traders.com
22 Jan 15 02:11:23
#AutoZone : Ethos snaps up stake in AutoZone http://t.co/xfkSEX9IrS $AZO
Rosner Stocks
21 Jan 15 11:48:22
Stocks Trending Now: http://t.co/0kBSoPZVDp $CCK $UCSO $BAX $NBS $SCSG $AZO $MWEB $VNRCF $BLAP $CHPTY $MTRE $SLFPY ~
Hammer D. Lane
21 Jan 15 10:26:48
$AZO looks like entering BUY zone!
Irma Doucet
21 Jan 15 07:33:09
$AZO AutoZone, Inc. vs. O'Reilly Automotive Inc -- Which Is the Better Stock to Buy? http://t.co/1GWaIoiHWy
Market Int Center
21 Jan 15 07:30:43
AutoZone $AZO Showing Support Near $574.20 ( http://t.co/CjsH7RO0VH )
				
				
By  +Follow December 10, 2013 10:27AM
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