logo
  Join        Login             Stock Quote

AutoZone (AZO) 2Q Earnings Rise 6 Pct On Sales, Margins Upside

 February 26, 2013 07:29 AM
 


(By Balachander) AutoZone Inc. (NYSE: AZO), a retailer of automotive replacement parts, posted a 5.6 percent increase in quarterly earnings, helped by sales growth and improvement in margins. Bottom-line beat market expectations, while sales were slightly short of consensus.

Earnings were $176.2 million or $4.78 per share for the second quarter, up from $166.9 million or $4.15 per share in the year-ago quarter. Wall Street analysts, on average, expected earnings of $4.76 per share.

Net sales rose 2.8 percent to $1.85 billion, while consensus estimates called in for a growth of 4.20 percent. Sales for stores open at least one year fell 1.8 percent for the three months ended Feb. 9.

[Related -Autozone, Inc.(NYSE:AZO) Q1 Earnings Preview: What To Expect?]

AutoZone said total domestic auto parts same store sales for the last two weeks decreased by 8 percent.

"Our belief is the approximate two week delay in processing of income tax returns this year was the key contributor to this decline in sales.," commented CEO Bill Rhodes. "Our expectation is sales in the upcoming quarter should recover to more normalized sales volumes."

Gross margin improved to 51.9 percent from 51.3 percent.

Inventory rose 7.0 percent, helped by higher store count and continued strategic investments in hard parts assortment, the company noted.

As of Feb. 9, 2013, the Memphis, Tennessee-based company had 4,735 stores in 49 states, the District of Columbia and Puerto Rico in the U.S. and 334 stores in Mexico for a total store count of 5,070.

[Related -Motorcar Parts of America, Inc. (MPAA): This Underrated Play In Auto Parts Offers 50% Upside]

AZO ended Monday's regular trading at $378.54. The stock has been trading in the 52-week range between $341.98 and $399.10.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageHerbalife Ltd. (NYSE:HLF) Q2 Earnings Preview: The Potential To Shock?

Herbalife Ltd. (NYSE:HLF) will release its second quarter 2014 financial results after the close of trading read on...

article imageHealth Net, Inc. (HNT): Potential to Be Huge Winners Says Bank of America

As of this keystroke, Health Net, Inc. (NYSE: HNT) shares are up around 4% on the day. The managed health read on...

article imageHomeAway, Inc. (AWAY) Q2 Earnings Preview: Top and Bottom Line Bullish Surprise?

HomeAway, Inc. (NASDAQ:AWAY) will report its financial results for the second quarter ended June 30, 2014 read on...

article imageAmazon.com, Inc. (AMZN) Q2 Earnings Preview: Missing on the Top and Bottom Lines, Again?

Amazon.com, Inc. (NASDAQ:AMZN) will release its second quarter financial results after market close on read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.