AutoZone (AZO) Tops Q1 EPS by 11c

AutoZone (NYSE: AZO) reported Q1 EPS of $7.27, $0.11 better than the analyst estimate of $7.16. Revenue for the quarter came in at $2.3 billion versus the consensus estimate of $2.21 billion.

Domestic same store sales, or sales for stores open at least one year, increased 4.5% for the quarter.

The Company's inventory increased 11.3% over the same period last year, driven by increased product placement, new stores, and the recent acquisition of IMC. Inventory per store was $604 thousand versus $566 thousand last year and $582 thousand last quarter. The primary difference to last quarter was the IMC acquisition. Net inventory, defined as merchandise inventories less accounts payable, on a per store basis was a negative $76 thousand versus negative $88 thousand last year and negative $87 thousand last quarter.

For earnings history and earnings-related data on AutoZone (AZO) click here.

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