Why AutoZone Shares Are Sliding Today
Portfolio Pulse from Nabaparna Bhattacharya
AutoZone reported Q3 FY23 sales growth of 5.8% YoY to $4.09 billion, missing the consensus of $4.12 billion. EPS was $34.12, beating the consensus of $31.42. Revenues missed estimates due to weaker-than-expected sales in March. The company's shares are trading lower by 5.26%.
May 23, 2023 | 3:37 pm
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NEGATIVE IMPACT
AutoZone's Q3 FY23 sales missed estimates, causing shares to trade lower by 5.26%. Weaker sales in March contributed to the revenue miss.
AutoZone's Q3 FY23 sales missed the consensus, which is a negative factor for the stock price. The weaker-than-expected sales in March contributed to the revenue miss, which is likely to cause short-term downward pressure on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100