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AutoZone (AZO) Q2 Earnings Report Preview: What To Look For



AutoZone (AZO) Q2 Earnings Report Preview: What To Look For

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

Last quarter AutoZone reported revenues of $4.19 billion, up 5.1% year on year, inline with analyst expectations. It was a good quarter for the company, with a decent beat of analysts’ gross margin estimates.

Is AutoZone buy or sell heading into the earnings? Find out by reading the original article on StockStory.

This quarter analysts are expecting AutoZone’s revenue to grow 4.3% year on year to $3.85 billion, slowing down from the 9.5% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $26.50 per share.

The analysts covering the company have been growing increasingly bullish about the business heading into the earnings, with revenue estimates seeing four downward revisions over the last thirty days. The company missed Wall St’s revenue estimates twice 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 at to get a hint at how this quarter will unravel for automotive and marine retail stocks, but there has been positive sentiment among investors in the segment, with the stocks up on average 8% over the last month. AutoZone is down 1.4% during the same time, and is heading into the earnings with analyst price target of $2964.1, compared to share price of $2,755.9.

Read the full article here