AutoZone latest results have arrived

AutoZone Inc. (AZO) reported its fourth quarter financial results for the period ending August 27, 2022 on Monday.

The largest US retailer of aftermarket automotive parts reported revenue of $5.348 billion (up by 8.9% from the same period last year) vs. $5.164 billion expected.

The company reported earnings per share of $40.51 for the quarter vs. $38.51 earnings per share expected.

”Our results are a testament to our AutoZoners’ ongoing commitment to delivering exceptional customer service every day.  Our retail business performed well this quarter ending with positive same store sales on top of last year’s strong performance.  And, our commercial business growth continued to be exceptionally strong at 22%. The investments we have made in both inventory availability and technology are enhancing our competitive positioning.  We are optimistic about our growth prospects heading into our new fiscal year,” Bill Rhodes, Chairman, President and CEO of AutoZone commented on the results.

During the quarter, AutoZone opened 118 new stores and closed one in the United States.

As of August 27, 2022, the company had 6,943 stores within the United States (6,168), Mexico (703) and Brazil (72).

AutoZone Inc. (AZO) chart

Shares of AutoZone were down by around 2% on Monday, trading at $2100.66 a share.

Stock performance

• 1 month: -6.28%
• 3 months: +8.69%
• Year-to-date: +3.30%
• 1 year: +36.62%

AutoZone price targets

• UBS: $2260
• Wells Fargo: $2450
• Raymond James: $2350
• Goldman Sachs: $2296
• Morgan Stanley: $2420
• Citigroup: $2250
• JP Morgan: $2200

AutoZone is the 364^th largest company in the world with a market cap of $42.20 billion.

You can trade AutoZone Inc. (AZO) and many other stocks from the NYSE, NASDAQ, HKEX and the ASX with GO Markets as a Share CFD.

Sources: AutoZone Inc., TradingView, MetaTrader 5, Benzinga, CompaniesMarketCap