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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.

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
The Greensheet
30 Oct 14 08:15:13
AutoZone Being Investigated For Waste Storage/Disposal http://t.co/hhImSWQtGF (subscription required) $AZO
30 Oct 14 06:36:06
AutoZone Assigned “BBB” Credit Rating by Morningstar $AZO http://t.co/BYOle5mvnq
30 Oct 14 01:10:03
http://t.co/CwPNU3PUkw breken uit hun chartmill channel #aandelen $AZO $CVA $GNCMA
The Greensheet
29 Oct 14 18:09:15
Is AutoZone Inc. Wasting Billions With Its Buybacks? (from The Motley Fool) http://t.co/eveouUedPn $AZO #AutoZone
Kenneth Barwin
29 Oct 14 17:45:20
@purplechipman $dorm not luck when inventories will be dried up at $orly $azo next quarter. Good growth and balance sheet too
Despicable Draghi ™
29 Oct 14 15:24:32
v2 Ratings
29 Oct 14 11:38:22
$azo looks expensive (rating fell to 2.4 as price rose to 548.38). #stockratings http://t.co/5bGTjadQQS
29 Oct 14 10:07:30
RT @billgunderson: Autozone $AZO is attempting to break out of a ten month consolidation. #100 OVERALL. I am long this Large Cap stock in m…
Bill Gunderson
29 Oct 14 10:07:04
Autozone $AZO is attempting to break out of a ten month consolidation. #100 OVERALL. I am long this Large Cap stock in my conservative gr
29 Oct 14 09:46:02
http://t.co/CwPNU3PUkw #aandelen die door hun chartmill kanaal breken $AZO $CVA $GNCMA
John Ablemann
29 Oct 14 07:30:58
$AZO Is AutoZone Inc. Wasting Billions With Its Buybacks? http://t.co/HXntvNYS6A
29 Oct 14 06:36:22
$AZO covered the rest. All out
Robinson Joachin
29 Oct 14 06:11:44
$ES, $NQ, and $YM all going up pre-market. Traded $FB earnings. Watching $AZO. #fbearnings http://t.co/gX8725A2aj
28 Oct 14 20:00:04
Sell-signals cont'd... $GLW $HAR $PCG $CLF $MCO $RTN $LLL $DISCA $ITW $ACE $KMB $CTSH $TSO $AZO $MSI $FTI $ABC
28 Oct 14 19:01:03
$AZO covered some before the close today... #lehmanshort
Despicable Draghi ™
28 Oct 14 15:59:43
Kym L
28 Oct 14 14:51:06
$XLY mentioned last night $HD $LOW $NKE $VFC $AZO nice. $TJX $LB okay
Becky Hiu
28 Oct 14 13:18:44
"@Babba: @BeckyHiu How about a chart on $AZO?" Awesome weekly BO: http://t.co/uTqf4SsnfR
Hammer D. Lane
28 Oct 14 12:33:43
$AZO ?
v2 Ratings
28 Oct 14 10:29:20
$azo looks expensive (rating fell to 3.0 as price rose to 545.63). #stockratings http://t.co/5bGTjadQQS
28 Oct 14 08:43:03
#aandelen chartmill channel breakout signalen http://t.co/CwPNU3PUkw $MONT $AZO $CVA
28 Oct 14 08:28:50
Morning Buzz: AutoNation $AN, Tesla Motors $TSLA, Crocs $CROX, Twitter $TWTR, AutoZone $AZO http://t.co/7iXjD3CISn
28 Oct 14 07:56:50
15% profit on 2 trades $azo $aapl. Out for Fomc minutes and fed rates tommorow
Wall Street Pit
28 Oct 14 07:55:52
Morning Buzz: AutoNation (AN), Tesla Motors (TSLA), Crocs (CROX), Twitter (TWTR),… - http://t.co/uP3b3eSRgD $AN $TSLA $CROX $TWTR $AZO
Nickey Friedman
28 Oct 14 07:13:28
$AZO Is AutoZone Inc. Wasting Billions With Its Buybacks? (AZO): http://t.co/j1gvWQj4uO via @themotleyfool
28 Oct 14 06:49:44
Is AutoZone Inc. Wasting Billions With Its Buybacks?. $AZO. http://t.co/PMGb6uyGvw
Kym L
27 Oct 14 21:55:35
$XLY strong $TJX $LB $HD $LOW $NKE $VFC $AZO
mario dee
27 Oct 14 18:36:45
$AZO Cramer just said autozone best in breed tonight. Said excellent and to buy. Said better than $ORLY at all time highs.
27 Oct 14 17:00:47
AutoZone Investigated in California for Waste Storage, Disposal. $AZO, $FB, $COH. http://t.co/lHtdwAHn3t
27 Oct 14 14:03:25
$AZO ALERT: New AutoZone, Inc. SEC Filing From our Stock News Alerts App
Instrumental Data
27 Oct 14 14:00:52
AUTOZONE INC $AZO 10-K now available
27 Oct 14 13:25:22
$AZO ALERT: New AutoZone, Inc. SEC Filing From our Stock News Alerts App
Market Int Center
27 Oct 14 07:47:47
AutoZone $AZO Showing Support Near $521.75 ( http://t.co/W5rxPlgGN1 )
27 Oct 14 06:33:02
#aandelen chartmill channel breakout signalen http://t.co/CwPNU3PUkw $MONT $AZO $EUO
Penny Stock Secret
27 Oct 14 01:19:15
The Hottest Way to Make Millions From Stock Market.Click HERE http://t.co/SVqoMkrw2z .. $AZN $AZO $AZZ
26 Oct 14 17:47:01
$AZO > Channel Close up http://t.co/AGIEy7trZW
26 Oct 14 17:45:29
$AZO > AUTOZONE there will be an opportunity this week. http://t.co/xylKvlWJ9o
26 Oct 14 17:24:07
The Top Tweets for $AZO (Autozone Inc symbol AZO) on 10/27/2014 http://t.co/kC6hhOMCuF
26 Oct 14 08:35:03
#aandelen chartmill channel breakouts voor vandaag http://t.co/CwPNU3PUkw $MONT $AZO $EUO
Stock Relay
26 Oct 14 00:53:09
$MDLZ Chart Click Here: http://t.co/bQzD2JZAaO Also See: $CAMBW $BEAM $AZO $FRGI ~
25 Oct 14 18:04:52
AZO 536.05 Stock Charts $AZO AutoZone Inc. (NYSE) Last Updated: 10/25/2014 20:04:50 AZO Stock Chart - 1 Month http://t.co/hBZBnYV5sy
25 Oct 14 10:23:03
#aandelen chartmill channel breakout signalen http://t.co/CwPNU3PUkw $MONT $AZO $EUO
25 Oct 14 03:30:05
Insiders Selling: $KIM $AVNR $MYCC $REGN $HON $SLAB $MDP $PRE $LLTC $TSCO $OZRK $CPHD $CHRW $HAS $AZO http://t.co/XQITF0lRKD #swingtrading
25 Oct 14 00:23:42
AZO 536.05 Stock Charts $AZO AutoZone Inc. (NYSE) Last Updated: 10/25/2014 02:23:41 AZO Stock Chart - 1 Month http://t.co/apZzLYX73L
24 Oct 14 15:30:07
Insiders Selling: $MYCC $REGN $HON $SLAB $MDP $PRE $LLTC $TSCO $OZRK $CPHD $CHRW $HAS $AZO $POOL $SWKS http://t.co/XQITF0lRKD #trading #dow
24 Oct 14 11:49:37
NEW POST: Don’t Let Them High Pressure You http://t.co/v8us73qD5E $AZO $F $GM $KMX $ORLY
Jeffrey Blake
24 Oct 14 06:32:20
$AZO Argus Downgrades Shares Of AutoZone, Inc. http://t.co/NFEb8YGqsP
Irma Doucet
24 Oct 14 06:32:16
$AZO Pitt Hyde discusses the founding of AutoZone, 35 years later (Video) http://t.co/2bYM21OcXq
US Banking News
24 Oct 14 06:06:51
Analysts Give Average Rating of Hold to AutoZone $AZO http://t.co/LMYkaIzrTO
24 Oct 14 03:30:04
Insiders Selling: $AZO $POOL $SWKS $VZ $VFC $WAL $STJ $EVER $CSL $AHS $STZ $RPM $INSY $FLEX $MNDL http://t.co/Vv2VEn80mr #trader #watchlist
By  +Follow December 10, 2013 10:27AM



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