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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
John Michael
31 Aug 14 13:06:42
RT @carmenhill8: AutoZone $AZO records 0.0235 in total risk alpha: http://t.co/f4gnxDMuO3
Carmen Hill
31 Aug 14 12:59:49
AutoZone $AZO records 0.0235 in total risk alpha: http://t.co/f4gnxDMuO3
Vaughn Okumura
29 Aug 14 13:17:24
monthly recap: my 25 long positions are $ACGL, $AZO, $BF.B, $CASY, $CHD, $CNI, $DHR, $ECL, $ENB, $FISV, $GWW, $HRL, $HSY, $JJSF,
Financial Headlines
29 Aug 14 10:06:30
$AZO: Auto Parts Group Is Outperforming The Market http://t.co/dDmFuVUllz http://t.co/H1RCfGbcxX
Media Sentiment
29 Aug 14 09:25:01
$AZO received a new alert. Find out why at http://t.co/5udYd0Ofs6 #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 194
Market Int Center
29 Aug 14 09:23:44
AutoZone $AZO Showing Bullish Technicals With Support At $531.04 ( http://t.co/MXtEVpfybY )
Harry Walkman
29 Aug 14 08:31:19
$AZO AutoZone Coverage Initiated at SunTrust (AZO) http://t.co/1DCwA9lI5X
John Turner
29 Aug 14 08:31:19
$AZO Agree To Buy AutoZone At $430, Earn 3.9% Using Options http://t.co/dfqTnF0pbZ
Tea Party Mobile
29 Aug 14 08:27:28
Why investors shouldn't ignore geopolitics http://t.co/brPh8t8xcm $tvix look for #selloff around 3pmcst $spy #txot $utx $afl $aee $azo $bll
Market News
29 Aug 14 07:06:26
$AZO: AutoZone Receives Consensus Recommendation of "Buy" from Analysts (NYSE ... http://t.co/dalwDaCWXZ http://t.co/aIYcAL0IdQ
28 Aug 14 10:36:19
@alsabogal Weekly setup on $ORLY $AZO both look good.
Market Int Center
28 Aug 14 07:01:27
Potential AutoZone $AZO Trade Has 1.43% Downside Protection ( http://t.co/FQzOiCEwBx )
The Fly
28 Aug 14 06:57:38
Stock News Updates
28 Aug 14 06:06:18
$AZO: Advance Auto Parts Earnings Cruise Past Estimates http://t.co/ep0PY7fd0b http://t.co/Z30Wyz0Y5M
Wall Street Monitor
28 Aug 14 05:06:20
$AZO: Stifel Downgrades AutoZone, O'Reilly http://t.co/Hpu5NgjKQd http://t.co/uDjXBcSXeb
28 Aug 14 04:41:54
SunTrust Begins Coverage on AutoZone $AZO http://t.co/nIpw2szTBs
28 Aug 14 04:28:18
SunTrust sizes up auto parts stocks http://t.co/C28cWaKXVo #premarket $MNRO $AZO $GPC
28 Aug 14 04:00:32
SunTrust Starts AutoZone $AZO at Neutral http://t.co/fqeJCBH2vY
Companies in News
27 Aug 14 19:06:26
$AZO: Agree To Buy AutoZone At $430, Earn 3.9% Using Options http://t.co/rwbp398SAX http://t.co/00EAUyGJ73
US Banking News
27 Aug 14 18:38:59
AutoZone Earns Neutral Rating from Analysts at SunTrust $AZO http://t.co/OXEm0usrG8
US Consumer News
27 Aug 14 18:28:19
AutoZone initiated by SunTrust at neutral. http://t.co/tucqMYaEed $AZO #AZO
27 Aug 14 18:25:56
AutoZone Coverage Initiated at SunTrust $AZO http://t.co/bNAxc4UyB1
Analyst Ratings
27 Aug 14 18:22:50
AutoZone initiated by SunTrust at neutral. http://t.co/AkpkPTNA2S $AZO #AZO
John Turner
27 Aug 14 11:31:32
$AZO AutoZone sponsoring youth baseball tournament http://t.co/w4LMOsNs51
Media Sentiment
27 Aug 14 07:45:25
$AZO received a new alert. Find out why at http://t.co/5udYd0Ofs6 #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 203
Market Int Center
27 Aug 14 07:42:27
AutoZone $AZO Showing Bullish Technicals With Support At $530.65 ( http://t.co/ep9QrLYWK3 )
Biz Headlines
26 Aug 14 12:06:23
$AZO: Analyst: Q2 Retail Earnings Are Primed For Growth http://t.co/MFvpydU5j0 http://t.co/PqtIYwHllW
Peter Bardens
26 Aug 14 11:30:34
$AZO Agree To Buy AutoZone At $430, Earn 3.9% Using Options http://t.co/0YQDKCC3iy
Media Sentiment
26 Aug 14 11:09:23
$AZO received a new alert. Find out why at http://t.co/5udYd0Ofs6 #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 242
James F Bowen III
26 Aug 14 11:03:15
$AZO looking weak, possible target $515.00 IMHO http://t.co/pgyPI5TZ35
Market Int Center
26 Aug 14 11:03:06
AutoZone $AZO Showing Bullish Technicals With Support At $534.52 ( http://t.co/rL9ZxYMekh )
25 Aug 14 21:35:03
AutoZone : Fitch Affirms AutoZone's IDR; Outlook Stable http://t.co/AAi4o9LLZ9 $AZO
Stock Headlines
25 Aug 14 19:06:21
$AZO: AutoZone to Release Fourth Quarter Earnings September 22, 2014 http://t.co/LvCFGNCQ17 http://t.co/47Cqoqyqnu
Captain John
25 Aug 14 18:46:12
$ORLY Up and Out! $AAP $PBY $AZO $PRTS $GPC $QQQ $NDX $SPY $SPX http://t.co/UxqdUfKzjC
Media Sentiment
25 Aug 14 11:44:55
$AZO received a new alert. Find out why at http://t.co/5udYd0Ofs6 #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 311
Market Int Center
25 Aug 14 11:44:05
AutoZone $AZO Showing Bullish Technicals With Support At $534.83 ( http://t.co/Mhsp49KFi5 )
Alfred Ip
25 Aug 14 09:30:29
love the setup on $orly and $azo http://t.co/12KZt0Qyha
Alfred Ip
25 Aug 14 09:29:02
$orly and $azo setting up big time
Stock News Guru
25 Aug 14 09:06:28
$AZO: Early Glance: Specialty Retail companies http://t.co/srPsRheARA http://t.co/xzm67vaQL9
Alpha Maven Alerts
25 Aug 14 08:46:31
$AZO, Positive, Yesterday, SD +3.04, #NYSE #ConsumerServices
25 Aug 14 08:39:30
$AZO nice b/o of weekly bullish flag/wedge. http://t.co/BuR9bPLntI
J.Paulo Coelho
25 Aug 14 08:22:17
$AZO -- long base back atop its range http://t.co/Lx3by6JcbZ
J.Paulo Coelho
25 Aug 14 08:16:17
$AZO -- long base back atop its range http://t.co/0pcV8edYzf
By  +Follow December 10, 2013 10:27AM



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