Auto parts and accessories retailer AutoZone (NYSE:AZO) will be reporting results tomorrow morning. Here’s what to expect.
AutoZone met analysts’ revenue expectations last quarter, reporting revenues of $6.21 billion, up 9% year on year. It was a slower quarter for the company, with a miss of analysts’ EBITDA and EPS estimates.
Is AutoZone a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting AutoZone’s revenue to grow 2.8% year on year to $4.31 billion, slowing from the 5.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $33.72 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. AutoZone has missed Wall Street’s revenue estimates four times over the last two years.
With AutoZone being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for automotive and marine retail stocks. However, there has been positive investor sentiment in the segment, with share prices up 5.7% on average over the last month. AutoZone is up 4.3% during the same time and is heading into earnings with an average analyst price target of $3,303 (compared to the current share price of $3,309).
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