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AutoZone Fourth Quarter Earnings
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AZO
AutoZone Inc (NYSE:AZO) announced its results for the most recent quarter on September 19, 2012. AutoZone is a specialty retailer of automotive replacement parts and accessories, offering an extensive line for cars, sport utility vehicles, vans, and light trucks.
Investors care about earnings because they drive stock prices. Strong earnings generally result in the stock price moving up and vice versa. SEE: Earnings: Quality Means Everything
The Numbers: AutoZone's latest numbers were good, as the company announced EPS and revenues that came in ahead predictions. The company reported $8.46 per share versus the $8.42 per share estimate and revenues of $2.76 billion versus the $2.13 billion estimate. EPS rose 18.8% while revenue climbed 4.6% from the same period last year. AutoZone's revenue has grown during each of the past four quarters on a year-over-year basis. The company's net income for the quarter rose 7.4% to $323.7 million. Last quarter marked the third in a row of rising net income.
Management Quote: "I would like to thank our entire organization for the solid performance delivered this past quarter. We are pleased to report our twenty-fourth consecutive quarter of double digit earnings per share growth. For the year, we reached many new milestones which included opening our 5,000th store in Alaska. We also improved our return on invested capital, achieving 33.0% at year end. While our same store sales performance was below our expectations for the quarter, we are confident we are well positioned to again deliver strong results for our new fiscal year. We remain committed to delivering exceptional customer service while growing our Retail, Commercial, and international store business models. We will maintain our disciplined approach to growing operating earnings and utilizing our capital effectively," said Bill Rhodes, Chairman, President and Chief Executive Officer.
A Look Back: Net income has increased 10.5% year-over-year on average across the last five quarters. The biggest gain came in the second quarter, when income climbed 12.7% from the year-earlier quarter.
Looking Ahead: For next quarter, analysts have a more positive outlook about the company's expected results. The average estimate for the first quarter of the next fiscal year is $5.45 per share, up from $5.38 90 days ago. When analyst increase earnings estimates investors can assume business has been stronger than first thought and is an encouraging sign for investors. For the fiscal year, the average estimate has moved up from $23.25 a share to $23.39 over the last ninety days.
Investors care about earnings because they drive stock prices. Strong earnings generally result in the stock price moving up and vice versa. SEE: Earnings: Quality Means Everything
The Numbers: AutoZone's latest numbers were good, as the company announced EPS and revenues that came in ahead predictions. The company reported $8.46 per share versus the $8.42 per share estimate and revenues of $2.76 billion versus the $2.13 billion estimate. EPS rose 18.8% while revenue climbed 4.6% from the same period last year. AutoZone's revenue has grown during each of the past four quarters on a year-over-year basis. The company's net income for the quarter rose 7.4% to $323.7 million. Last quarter marked the third in a row of rising net income.
Management Quote: "I would like to thank our entire organization for the solid performance delivered this past quarter. We are pleased to report our twenty-fourth consecutive quarter of double digit earnings per share growth. For the year, we reached many new milestones which included opening our 5,000th store in Alaska. We also improved our return on invested capital, achieving 33.0% at year end. While our same store sales performance was below our expectations for the quarter, we are confident we are well positioned to again deliver strong results for our new fiscal year. We remain committed to delivering exceptional customer service while growing our Retail, Commercial, and international store business models. We will maintain our disciplined approach to growing operating earnings and utilizing our capital effectively," said Bill Rhodes, Chairman, President and Chief Executive Officer.
A Look Back: Net income has increased 10.5% year-over-year on average across the last five quarters. The biggest gain came in the second quarter, when income climbed 12.7% from the year-earlier quarter.
Looking Ahead: For next quarter, analysts have a more positive outlook about the company's expected results. The average estimate for the first quarter of the next fiscal year is $5.45 per share, up from $5.38 90 days ago. When analyst increase earnings estimates investors can assume business has been stronger than first thought and is an encouraging sign for investors. For the fiscal year, the average estimate has moved up from $23.25 a share to $23.39 over the last ninety days.
by
Investopedia Staff
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