AutoZone Q4 Earnings Top Estimates Aided By Solid International Stores' Performance
Portfolio Pulse from Shivani Kumaresan
AutoZone Inc reported Q4 FY23 sales growth of 6.4% year-on-year to $5.69 billion, beating the analyst consensus of $5.61 billion. EPS of $46.46 also beat the consensus of $45.12. The company saw a 1.7% increase in domestic same-store sales and a 34.1% increase in international sales. Gross margin expanded to 52.7% and operating income climbed 10.8% Y/Y to $1.2 billion. AutoZone opened 53 new stores in the U.S. in the quarter, bringing the total store count to 7,140. The company had $1.8 billion remaining under its share repurchase authorization at year end.
September 19, 2023 | 12:42 pm
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AutoZone's Q4 FY23 results beat analyst expectations, with strong sales growth and EPS. The company also expanded its store count and has a significant amount remaining under its share repurchase authorization.
AutoZone's better-than-expected Q4 results, along with its store expansion and remaining share repurchase authorization, indicate a strong financial position and potential for future growth. This could positively impact the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100