Here's What Key Metrics Tell Us About AutoZone (AZO) Q3 Earnings

AutoZone (AZO) reported $4.09 billion in revenue for the quarter ended May 2023, representing a year-over-year increase of 5.8%. EPS of $34.12 for the same period compares to $29.03 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $4.1 billion, representing a surprise of -0.30%. The company delivered an EPS surprise of +10.64%, with the consensus EPS estimate being $30.84.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how AutoZone performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Same store sales - YoY change: 1.9% versus the nine-analyst average estimate of 3.97%.

• Total Auto-Zone Store: 7044 versus the three-analyst average estimate of 7057.56.

• Square footage - Total: 47191 Ksq ft versus the three-analyst average estimate of 47358.19 Ksq ft.

• Number of stores - Domestic: 6248 versus 6257 estimated by three analysts on average.

• Net sales- Auto Parts: $4.02 billion compared to the $4.01 billion average estimate based on four analysts. The reported number represents a change of +5.8% year over year.

• Net sales- Other: $73.85 million versus $74.76 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +5.6% change.

• Revenue- Domestic Commercial sales: $1.11 billion versus the three-analyst average estimate of $1.13 billion. The reported number represents a year-over-year change of +6.3%.

View all Key Company Metrics for AutoZone here>>>

Shares of AutoZone have returned -2.1% over the past month versus the Zacks S&P 500 composite's +1.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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