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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
MarketCurrents
21 Sep 14 14:30:44
Notable earnings before Monday’s open http://t.co/1fljHxHUDJ $AZO $NEOG
BUMBLEBEECHARTS
21 Sep 14 12:19:15
$AZO Reports 9/22/14 before market open. $KMX reports 9/23/14. Most in sector below 8/21 day ema. http://t.co/ZyBZH5esKC
Filip Maciolowski
21 Sep 14 11:33:09
Here's 3 MUST WATCH Stocks For Monday Morning http://t.co/pQmKHRuyXT via @DITRLI #Alibaba #Autozone $BABA $AZO $ASNA #Stocks #MarketWatch
Day Trade Alerts
21 Sep 14 11:18:24
RT @Estimize: $AZO reports before the open tomorrow, Estimize Consensus +0.06 EPS and +10.26M Revs compared to WS http://t.co/QDM5SyLgQA
Derald Muniz
21 Sep 14 11:10:03
someone did NOT want to own $AZO into Earnings BMO 9/22 http://t.co/iCVNyu1hg8
Michael Torres, PhD
21 Sep 14 11:06:20
RT @Estimize: $AZO reports before the open tomorrow, Estimize Consensus +0.06 EPS and +10.26M Revs compared to WS http://t.co/QDM5SyLgQA
Estimize
21 Sep 14 11:00:28
$AZO reports before the open tomorrow, Estimize Consensus +0.06 EPS and +10.26M Revs compared to WS http://t.co/QDM5SyLgQA
Kevbeau68
21 Sep 14 10:30:53
RT @Briefingcom: Corporate #earnings conference calls, webcasts http://t.co/7HqwdvZMCw $AZO $KMX $BBBY $ACN $JBL $MU $NKE $FINL $WAG
Briefing.com
21 Sep 14 10:26:13
Corporate #earnings conference calls, webcasts http://t.co/7HqwdvZMCw $AZO $KMX $BBBY $ACN $JBL $MU $NKE $FINL $WAG
NASDAQ
21 Sep 14 08:16:10
$AZO - MARKET SNAPSHOT: Stronger Dollar Could Put Squeeze On Earnings http://t.co/8OWnppIau4
NASDAQ
21 Sep 14 03:18:09
$AZO - MARKET SNAPSHOT: Stronger Dollar Could Put Squeeze On Earnings http://t.co/FgcbIavoe2
Paul MARCEL
20 Sep 14 22:34:17
Voici quelques-uns des principaux earnings de cette semaine: $NKE; $ACN; $MU; CCL; $AZO; $PAYX; $BBBY; $KMX;... http://t.co/7hGSVaMThu
US Banking News
20 Sep 14 22:18:13
AutoZone to release Q414 earnings on Monday. Analysts expect 11.26 EPS. $AZO http://t.co/W6ahfNGigb
Stocks Pastor
20 Sep 14 19:34:08
Even if $AZO beats, it usually sells off the first day, only to beast the next three days. Watch it. It's money in the bank.
Stocks Pastor
20 Sep 14 19:32:42
$AZO reports before open on Monday. The chart is currently non directional.
Bidness Etc
20 Sep 14 16:30:11
Auto Zone will report fourth-quarter earnings before the market opens on Monday http://t.co/HFAOKdkLXk $AZO
Derald Muniz
20 Sep 14 09:42:10
$AZO reports Monday BMO. Oct 530/520 Strangle is pricing in a 16.50 move for Earnings (no position)
Bidness Etc
20 Sep 14 09:05:12
Will 4Q Results Rescue Auto Zone’s Top Line Again? http://t.co/WeDaQRhojF $AZO
HedgeChatter
20 Sep 14 07:22:02
Stocks on http://t.co/ekseL9HWxP with spike in news coverage: $PG $ASNA $AZO $CAT $SDRL
TradeLongShort
19 Sep 14 20:29:22
16 stocks in the $SPX were initiated with PPS sell signals on the daily charts including $YHOO $ORCL $AZO $AIG $GME and $BK
Kym L
19 Sep 14 19:55:31
Earnings next week Mon: $AZO $HTZ Tues: $BBBY $CCL $KMX Wed: $ACN $JBL $KBH $MTN $PAYX Thur: $MU $NKE $WOR Fri $BBRY $FINL
Tom Doncaster
19 Sep 14 19:28:56
Stocks Close Out Week Mixed As Volume Surges http://t.co/Jf11KMJuBq #IBDEditorials via @IBDinvestors $BABA $DRC $SIEGY $EMES $GLOG $AZO
WKRB News
19 Sep 14 13:28:25
AutoZone $AZO Set to Announce Earnings on Monday http://t.co/XMS8roHTBp
Darlene S Williams
19 Sep 14 13:27:43
@LSEPLC @SSXnews @CMEGroupTV @FOREXLIVE @forexliveexpert @FOREXLIVEROOM @FRAM_Filters CHANGE FILTERS $AZO $AAP $COP $EURAUD $EURJPY $GBPCHF
US Banking News
19 Sep 14 13:24:07
AutoZone $AZO Set to Announce Earnings on Monday http://t.co/5GtvArRx2Z
WallStreetConsensus
19 Sep 14 12:30:25
Companies reporting EPS 9/22 pre-market: $AZO, $NEOG http://t.co/XhqHURHGGA
Day Trade Experiment
19 Sep 14 12:29:27
BUY $AZO @$527.73
Mitchell Warren
19 Sep 14 11:45:53
Notable earnings for next week: $AZO $KMX $CCL $BBBY $ACN $KBH $PAYX $JBL $MU $NKE $BBRY $FINL
Jahi Faucette
19 Sep 14 11:00:04
RT @scottrade: #Earnings expected Monday: $AZO $ASNA $NEOG- 3 largest U.S. companies by market cap. 5 things to know: http://t.co/fNTDDkIJn8
Sandra Matthews
19 Sep 14 10:35:16
RT @scottrade: #Earnings expected Monday: $AZO $ASNA $NEOG- 3 largest U.S. companies by market cap. 5 things to know: http://t.co/fNTDDkIJn8
Scottrade
19 Sep 14 10:30:10
#Earnings expected Monday: $AZO $ASNA $NEOG- 3 largest U.S. companies by market cap. 5 things to know: http://t.co/fNTDDkIJn8
Peter Bardens
19 Sep 14 06:31:36
$AZO What Do Mixed Expectations Imply For AutoZone? http://t.co/8hBXNrSeOl
   $TOCK$
19 Sep 14 02:37:08
Daily short squeeze alerts $AZO $WTS $DLB $MDT $SFL $TFX $FAF $IRM $DV $AEL $ORG $GSAT $HPJ http://t.co/gEFexKCoA4 Gallery View SC
Alysia Sarkisian
18 Sep 14 23:24:13
RT @SeekingAlpha: What Do Mixed Expectations Imply For AutoZone? http://t.co/XLHJtjikzo $AAP $AZO
Traffic Generator
18 Sep 14 23:22:47
RT @SeekingAlpha: What Do Mixed Expectations Imply For AutoZone? http://t.co/XLHJtjikzo $AAP $AZO
Seeking Alpha
18 Sep 14 23:17:03
What Do Mixed Expectations Imply For AutoZone? http://t.co/XLHJtjikzo $AAP $AZO
TakingStock614
18 Sep 14 11:20:11
$AZO despite being down 1.24% stock still remains in channel, nice wkly consolidation. Explosive YE move could take it to 600 on b/o.
Analyst Ratings
18 Sep 14 10:53:55
Want automatic email alerts for $MCUR $AEP $AZO $BIG $COO? Subscribe to ARN Daily http://t.co/f5PyW4bUH9
Day Trade Alerts
18 Sep 14 10:38:27
via #AlertTrade SHORT Seller Alert $AZO - AUTOZONE #ShortSeller #Stocks http://t.co/VS8RO1bzXJ
Harry Walkman
18 Sep 14 08:00:59
$AZO AutoZone buys auto parts distributor http://t.co/OZ5rNsoAIk
swells
18 Sep 14 06:38:50
RT @takingstock614: I cont. to favor many names here.. $FB $TWTR $GOOGL $ASH $AZO moving forward.
LouisLouie
18 Sep 14 06:19:34
RT @takingstock614: I cont. to favor many names here.. $FB $TWTR $GOOGL $ASH $AZO moving forward.
TakingStock614
18 Sep 14 06:12:53
I cont. to favor many names here.. $FB $TWTR $GOOGL $ASH $AZO moving forward.
Livevol Community
18 Sep 14 06:00:08
Earnings: $AZO 09/22/2014 BMO See how $AZO straddles performed historically on earnings: http://t.co/qu6shFC4oA
NASDAQ
18 Sep 14 04:01:53
$AZO - Gabelli & Company’s 38th Annual Automotive Aftermarket Symposium http://t.co/emfpkZVyI0
Thomas Collins
17 Sep 14 12:00:39
$AZO AutoZone to Acquire Parts Distributor Interamerican Motor - Analyst Blog http://t.co/xrhMc0pmSo
Samuel Brown
17 Sep 14 12:00:38
$AZO AutoZone buys auto parts distributor http://t.co/DFOel7Ra6m
John Turner
17 Sep 14 09:31:28
$AZO AutoZone to Acquire Parts Distributor Interamerican Motor - Analyst Blog http://t.co/1tnP5u9R9F
Estimize
17 Sep 14 08:05:55
@LDrogen $AZO is reporting earnings for Q4 2014 on 09/22/14 – http://t.co/fDR6qlk1Oz
Estimize
17 Sep 14 08:05:46
@TrembFredrick $AZO is reporting earnings for Q4 2014 on 09/22/14 – http://t.co/fDR6qlk1Oz
				
				
By  +Follow December 10, 2013 10:27AM
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