AutoZone posts stronger-than-expected profit & sales

May 25, 2021
AutoZone posts stronger-than-expected profit & sales

One of the largest US retailers of aftermarket automotive parts and accessories posted third-quarter figures surpassing the consensus

AutoZone's EPS came in at $26.48 on revenues of $3.65 billion. Both figures topped last year's numbers. Earnings were $14.39, while revenue-wise, it reported $2.78 billion. Commercial and do-it-yourself businesses drove the surges.

The Tennessee-based company's domestic same-store sales went up 28.9%, while inventory rose 5.1%. The increases were due to the new stores and better product range.

According to Bill Rhodes, chairman, president, and chief executive, "We intend to accelerate our Company's historical Commercial growth rate as we increase our penetration in this market."

At the moment of writing, AutoZone stock price is trading 0.11% higher, at $1,450 apiece. Since the beginning of the year, its stock price went up 22%, USA500 rose 12%.

Sources: finance.yahoo.com, marketwatch.com

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