AutoZone earnings: AZO shares down 4% on second quarter sales Miss

<p>AutoZone (NYSE: AZO) revenues for the car parts retailer during the second quarter of 2020 have AZO shares down on Tuesday. This follows its diluted earnings per share (EPS) of $ 12.39, which is better than the Wall Street estimate of $ 11.77 per share. However, its revenue of $ 2.51 billion is a different story because they could not reach analysts’ estimates of $ 2.57 billion.

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Here’s what’s worth noting from the latest AutoZone revenue report.

Dilution per share earnings are up 7.83% from $ 11.49 in the fiscal second quarter of 2019. Revenue for the quarter will be 2.45% higher than $ 2450 million from the same period last year. Operating profit of $ 407.94 million is an increase of 1.98% compared to the previous year from $ 400.02 million. The AutoZone earnings report also includes net income of $ 299.28 million. This is an increase of 1.58% from $ 294.64 million reported during the same period last year.

Bill Rhodes, President, President and CEO of AutoZone, said this about AZO share income:

“Our sales development during our fiscal second quarter did not meet our plans or expectations. We had particularly challenging sales in specific weather-sensitive categories and geographical areas, which indicates that the mild winter was a major headwind for our and our industry’s sales results.

The AutoZone results report does not mention its outlook for the 2020 financial year. Despite this, we know what Wall Street expects. Analysts are looking for diluted earnings per share of $ 65.89 on revenue of $ 12.21 billion for the year.

The AZO share fell by 4.4% as of Tuesday afternoon.

At the time of writing, William White had no position in any of the above securities.

Article printed from InvestorPlace Media, https://investorplace.com/2020/03/autozone-earnings-drop-azo-stock-on-sales-miss/.

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