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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
OptMapp
28 Feb 15 05:25:26
What are you trading next week? Here are some upcoming earnings - Tues: $BBY $AZO $AMBA $DKS $KATE Wed: $ANF $HRB Thur: $COST $KR
Jake13
27 Feb 15 20:52:53
AZO Year to date has changed +3.81% percent. +5.60% in the last 30 days. $AZO Autozone Full breakdown Last pri http://t.co/k7qlLTA59D
Jake13
27 Feb 15 20:52:32
$AZO AZO Stock year to date has changed +3.81% percent. +5.60% in the last 30 days. $AZO Autozone Full breakdown La http://t.co/7HM3ZvpFzp
chartguy89
27 Feb 15 20:51:45
AZO 642.68 Autozone Stock Charts $AZO Last Updated: 02/27/15 Last price: 642.68 Total volume: 325,198 AZO Stoc http://t.co/9Ep77o4acw
chartguy89
27 Feb 15 20:51:29
$AZO AZO 642.68 Autozone Stock Charts $AZO Last Updated: 02/27/15 Last price: 642.68 Total volume: 325,198 AZO Stoc http://t.co/rLPeGqRTpw
ProTradersNews
27 Feb 15 15:27:02
$.IXIC $NFLX $IBM $AZO $TGT $BBY $HON $XOM $KR $COST: Cramer game plan: Rest up-this will charge higher!: http://t.co/aRonuQFpJ4
Lucretia
27 Feb 15 14:04:24
$AZO Is AutoZone in the Buy Zone? (NYSE:AZO) http://t.co/iKtZ8DnAKe
Vaughn Okumura
27 Feb 15 13:29:20
monthly recap: my 26 long positions are $ACGL, $AZO, $BCR, $BF.B, $BRK.A, $CASY, $CHD, $CNI, $DHR, $ECL, $ENB, $FISV, $GWW, $HRL,
RB Options Scans
27 Feb 15 11:48:00
$10 range in $azo thus far today, earnings tues b/o
DailyStockPicks
27 Feb 15 11:22:39
After large gain on $EYES, $KBIO is next with $1 in net cash $ORCL $MS $NOV $CF $PRGO $AZO investors read http://t.co/t2YAvyw70P
BNK Invest
27 Feb 15 10:46:28
Notable Friday Option Activity: $MNST $YUM $AZO #stockoptions http://t.co/dtoevfsUCJ
12Stocks.com
27 Feb 15 08:52:21
S&P500 #Stocks Trend $MNST $KSS $YUM $GOOGL $GOOG $MO $AZO $ECL $NFLX $UA $SJM $FSLR $DRI $EXPD $TSO $GCI $CRM @ http://t.co/RPeaHBZz9y
Estimize
27 Feb 15 08:13:08
@LDrogen $AZO is reporting earnings for Q2 2015 on 03/03/15 – http://t.co/ba1FA7AYpv
Estimize
27 Feb 15 08:12:21
@strategydesk $AZO is reporting earnings for Q2 2015 on 03/03/15 – http://t.co/ba1FA7AYpv
Estimize
27 Feb 15 08:12:20
@pchoi414 $AZO is reporting earnings for Q2 2015 on 03/03/15 – http://t.co/ba1FA7AYpv
Estimize
27 Feb 15 08:12:19
@RSDTrading $AZO is reporting earnings for Q2 2015 on 03/03/15 – http://t.co/ba1FA7AYpv
Estimize
27 Feb 15 08:12:16
@kingfish111 $AZO is reporting earnings for Q2 2015 on 03/03/15 – http://t.co/ba1FA7AYpv
12Stocks.com
27 Feb 15 03:02:53
Weekly S&P500 #Stocks Trend $FSLR $AVGO $CRM $EXPD $LH $MCD $KSS $AZO $UA $ECL $CCE $GCI $YUM $DRI $TSO $OMC @ http://t.co/RPeaHBZz9y
Energy Shots
26 Feb 15 21:00:49
RT @JorelLaraKalel: 52 Week Highs $AZO $CACC $CHKP $CME $DDS $DRI $FDP $FICO $FLWS $FUN $GPX $HD $INTU $JBLU $KKD $LEN $MNST $NVR $PAYX $RJ…
Investors Hangout
26 Feb 15 20:52:42
chartguy89: AZO 644.97 Autozone Stock Charts $AZO Last http://t.co/hsv15BVQJw
Investors Hangout
26 Feb 15 20:52:42
chartguy89: AZO 644.97 Autozone Stock Charts $AZO Last http://t.co/PmS0Hz6TuJ
Investors Hangout
26 Feb 15 20:52:42
chartguy89: AZO 644.97 Autozone Stock Charts $AZO Last http://t.co/oRng4BDuIB
Investors Hangout
26 Feb 15 20:52:41
chartguy89: AZO 644.97 Autozone Stock Charts $AZO Last http://t.co/hp8sYXSlwM
chartguy89
26 Feb 15 20:48:15
AZO 644.97 Autozone Stock Charts $AZO Last Updated: 02/26/15 Last price: 644.97 Total volume: 231,532 AZO Stoc http://t.co/LJEyITNaP4
chartguy89
26 Feb 15 20:48:00
$AZO AZO 644.97 Autozone Stock Charts $AZO Last Updated: 02/26/15 Last price: 644.97 Total volume: 231,532 AZO Stoc http://t.co/fcXH1EtH5d
Jake13
26 Feb 15 20:47:59
AZO Year to date has changed +4.18% percent. +5.36% in the last 30 days. $AZO Autozone Full breakdown Last pri http://t.co/nDnNEsrUnb
Jake13
26 Feb 15 20:47:38
$AZO AZO Stock year to date has changed +4.18% percent. +5.36% in the last 30 days. $AZO Autozone Full breakdown La http://t.co/JP0YGmehbf
Michael Handlin
26 Feb 15 16:31:03
@jimcramer What do you think about $AZO heading into earnings?
12Stocks.com
26 Feb 15 16:02:50
S&P500 #Stocks Trend $AVGO $CRM $TSO $GOOGL $GOOG $ZTS $SJM $LH $OMC $EXPD $AZO $GCI $KSS $NFLX $MCD $MO $UA @ http://t.co/RPeaHBZz9y
StockNewsWires
26 Feb 15 14:16:04
$AZO: AutoZone to Present at the Upcoming Consumer Conferences: http://t.co/RURjdZKuSc
ProTradersNews
26 Feb 15 13:12:14
$AZO: AutoZone to Present at the Upcoming Consumer Conferences: http://t.co/SMhcWq5i5Q
ProTradersNews
26 Feb 15 13:11:09
$AZO: AutoZone to Present at the Upcoming Consumer Conferences: http://t.co/CQes8PnMZw
$Stocknewsalerts
26 Feb 15 13:07:15
$AZO AutoZone to Present at the Upcoming Consumer Conferences From our Stock News Alerts App
NASDAQ
26 Feb 15 13:07:06
$AZO - AutoZone to Present at the Upcoming Consumer Conferences http://t.co/vFsAACea52
4-traders.com
26 Feb 15 13:06:03
#AutoZone to Present at the Upcoming Consumer Conferences http://t.co/sXA4ttE575 $AZO
James P Worthy
26 Feb 15 07:31:19
$AZO AutoZone to Grow on Strong Core Business, Share Buybacks http://t.co/nFpwuiJ3O2
chartguy89
25 Feb 15 20:48:18
AZO 637.12 Autozone Stock Charts $AZO Last Updated: 02/25/15 Last price: 637.12 Total volume: 188,563 AZO Stoc http://t.co/nbLS0OAjt0
chartguy89
25 Feb 15 20:48:02
$AZO AZO 637.12 Autozone Stock Charts $AZO Last Updated: 02/25/15 Last price: 637.12 Total volume: 188,563 AZO Stoc http://t.co/xM3Fyjiu7x
Jake13
25 Feb 15 20:47:21
AZO Year to date has changed +2.91% percent. +5.48% in the last 30 days. $AZO Autozone Full breakdown Last pri http://t.co/bRw51FvhuB
Jake13
25 Feb 15 20:46:59
$AZO AZO Stock year to date has changed +2.91% percent. +5.48% in the last 30 days. $AZO Autozone Full breakdown La http://t.co/ZgiwXcyIJI
TalkMarkets Recap
25 Feb 15 16:34:06
#LargeCap Best & Worst Report - February 25, 2015 $HCN $MCHP $AZO $CTAS $DIS $MYL $KGC $NRG $FTI $GGB $SM http://t.co/gxXtXLNRwT
Market Newswire
25 Feb 15 14:01:28
AutoZone to Grow on Strong Core Business, Share Buybacks - February 25, 2015 - http://t.co/6HTvhx9Oq1 $AZO #news #mkt #economics
BreakingStocksNews
25 Feb 15 13:52:01
$AZO: AutoZone to Grow on Strong Core Business, Share Buybacks: http://t.co/ZgwK60pUEZ
TalkMarkets
25 Feb 15 10:02:57
#LargeCap Best & Worst Report - February 25, 2015 $HCN $MCHP $AZO $CTAS $DIS $MYL $KGC $NRG $FTI $GGB $SM http://t.co/EY4eCnscQt
12Stocks.com
25 Feb 15 08:52:34
S&P500 #Stocks Trend $NFX $FSLR $DLTR $ECL $DG $TWC $EXPD $DRI $CTAS $TSCO $CME $RAI $AZO $LO $PKI $MMM $CINF @ http://t.co/RPeaHBZz9y
Media Sentiment
25 Feb 15 08:14:33
$AZO received a new alert. Find out why at http://t.co/nZwqReM0tj #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 264
Market Int Center
25 Feb 15 08:10:10
AutoZone $AZO Showing Bullish Technicals With Resistance At $643.16 ( http://t.co/1IzOaLqoGS )
Brad Ascherien
25 Feb 15 07:43:29
RT @NPetallides: Consumer Stocks only Bright Spot Today. Lifetime Highs $DLTR $VFC $UA $DG $DRI $AZO $TGT $LOW $MNST $OMC Thanks for the…
The Legacy News
25 Feb 15 07:42:09
Zacks Reaffirms “Neutral” Rating for AutoZone $AZO http://t.co/Bs8JndoxdQ
Nicole Petallides
25 Feb 15 07:18:20
Consumer Stocks only Bright Spot Today. Lifetime Highs $DLTR $VFC $UA $DG $DRI $AZO $TGT $LOW $MNST $OMC Thanks for the list @Brady_FBN
				
				
By  +Follow December 10, 2013 10:27AM
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