AZO
AutoZone, Inc.3417.42
-71.29-2.04%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q2 '26
Weather drag temporary; growth tailwinds ahead.
Q&A pinned commercial's late-quarter deceleration squarely on storms shuttering shops, with the first 10 weeks humming at 12% growth and snapback already visible. Management expects Rust Belt ice to spur summer undercar and chassis repairs, plus bigger tax refunds to revive DIY traffic. Same-SKU inflation stays mid-single digits into FY2026 via tariffs and vendor talks. Investments sit in middle innings, ramping to 500 annual stores by 2028 for outsized top-line and EBIT acceleration in 2027. Mega Hubs keep outperforming models with halo effects. Analysts probed elasticity--mostly inelastic break-fix--and SG&A cadence, which won't revert to double-digits. Bullish tone prevails, eyes on execution as stores mature.
Key Stats
Market Cap
56.68BP/E (TTM)
23.81Basic EPS (TTM)
143.53Dividend Yield
0%Recent Filings
8-K
Q2 sales up 8.1%, EPS $27.63
AutoZone posted Q2 net sales of $4.3B, up 8.1% year-over-year, with total same-store sales rising 3.3% on a constant currency basis—domestic up 3.4%, international 2.5%. Gross margin slipped 137 basis points to 52.5% from a LIFO charge, driving operating profit down 1.2% to $698.5M and EPS to $27.63. Repurchased $310.8M in shares; opened 64 net new stores. Inventory grew 13.1%, yet net per store improved to negative $105K.
8-K
Shareholders re-elect full board
AutoZone shareholders at the December 17, 2025 annual meeting elected all 11 director nominees, with votes for ranging 12.6M-13.8M amid 1M broker non-votes. They ratified Ernst & Young as 2026 auditors (13.6M for, 1.3M against) and approved executive pay on advisory basis (12.4M for). Board continuity locked in.
10-Q
Q1 FY2026 results
AutoZone posted $4.6B net sales for Q1 FY2026 ended November 22, 2025, up 8.2% y/y from $4.3B, fueled by 4.7% constant-currency same-store sales and $164M commercial growth; gross margin slipped to 51.0% from 53.0% on a 212bp LIFO hit (derived). Operating profit fell 6.8% y/y to $784M while SG&A climbed on growth investments, yet op cash flow soared 16% to $944M and FCF hit $630M (derived). Debt eased to $8.6B with $2.2B revolver availability; $431M buybacks trimmed shares to 16.6M. Diluted EPS of $31.04 on 17.1M shares tracks neatly. Cash keeps flowing strong.
8-K
Q1 sales up 8.2%, EPS $31.04
10-K
FY2025 results
AutoZone grew FY2025 net sales 2.4% to $18.9B despite a tougher 52-week year versus prior year's 53 weeks, fueled by 3.2% domestic comps and 6.7% commercial surge while international comps dipped 3.2% on FX. Q4, at 33% of annual sales, carried the load in this seasonal business. Operating profit slipped 4.7% to $3.6B on LIFO charges and growth investments, yet cash from ops hit $3.1B funding $1.3B capex for 304 net new stores and $1.5B buybacks at ~$3,820/share. Debt steady at $8.8B with $2.2B revolver room. Tariffs threaten supply costs.
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