Auto parts and accessories retailer AutoZone (NYSE:AZO) will be reporting earnings this Tuesday before the bell. Here’s what you need to know.
AutoZone missed analysts’ revenue expectations last quarter, reporting revenues of $4.84 billion, up 8.4% year on year. It was a mixed quarter for the company, with a narrow beat of analysts’ gross margin estimates.
Is AutoZone a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting AutoZone’s revenue to grow 7.4% year on year, in line with the 6.9% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. AutoZone has missed Wall Street’s revenue estimates multiple 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 unfold for automotive and marine retail stocks. However, the whole sector has faced a sell-off over the last month with stocks in AutoZone’s peer group down 8.6% on average. AutoZone is down 5.1% during the same time .
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