Earnings To Watch: AutoZone (AZO) Reports Q3 Results Tomorrow

In this article:
AZO Cover Image
Earnings To Watch: AutoZone (AZO) Reports Q3 Results Tomorrow

Auto parts and accessories retailer AutoZone (NYSE:AZO) will be reporting earnings tomorrow before the bell. Here’s what to look for.

AutoZone missed analysts’ revenue expectations by 1.3% last quarter, reporting revenues of $4.24 billion, up 3.5% year on year. It was a mixed quarter for the company, with a narrow beat of analysts’ gross margin estimates. On the other hand, its revenue unfortunately missed analysts' expectations on lower-than-expected same-store sales.

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 9.3% year on year to $6.22 billion, improving from the 6.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $53.55 per share.

AutoZone Total Revenue
AutoZone Total Revenue

The majority of analysts covering the company have 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 three 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, investors in the segment have had steady hands going into earnings, with share prices flat over the last month. AutoZone is down 4.3% during the same time and is heading into earnings with an average analyst price target of $3,229 (compared to the current share price of $3,021).

Unless you’ve been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefitting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story.

StockStory aims to help individual investors beat the market.
StockStory aims to help individual investors beat the market.
Advertisement