AutoZone Q1 Earnings Surpass Street View

AutoZone Inc AZO reported first-quarter FY22 sales growth of 16.3% year-on-year, to $3.67 billion, beating the analyst consensus of $3.37 billion.
EPS of $25.69 beat the analyst consensus of $20.87.
Domestic same-store sales for the quarter increased 13.6%.
The gross margin decreased 65 basis points Y/Y to 52.5%. The operating margin was 20.6%, and operating income for the quarter rose 22.6% to $754.5 million.
AutoZone held $961.1 million in cash and equivalents as of November 20, 2021. Adjusted debt totaled $7.6 billion.
The company had $1.018 billion remaining under its current share repurchase authorization at the end of the quarter.
Price Action: AZO shares are trading higher by 2.61% at $1,929 in premarket on the last check Tuesday.

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