AutoZone, Inc. (AZO - Free Report) is one of the nation’s leading specialty retailers of automotive replacement parts and accessories, operating in the Do-It-Yourself (“DIY”) retail, Do-It-for-Me (“DIFM”) commercial and other customer markets. The company is focused on increasing sales through store expansion and boosting earnings per share via an aggressive share repurchase program.

However, AutoZone has been facing challenges in terms higher expenses related to opening new distribution centers and increasing the frequency of delivery to stores.

Estimate Trend & Surprise History

Investors should note that the fourth quarter (ended Aug 26, 2017) of fiscal 2017 earnings estimates for AutoZone have been going down over the past week and month.

Meanwhile, the company delivered a positive earnings surprise in one of the trailing four quarters, met expectations in one and missed in two, with an average miss of around 1.5%.

AutoZone, Inc. Price and EPS Surprise

AutoZone, Inc. Price and EPS Surprise | AutoZone, Inc. Quote

Earnings

AutoZone reported adjusted earnings of $15.18 per share in the fourth quarter of fiscal 2017, beating the Zacks Consensus Estimate of $15.11. Earnings were 6.1% higher than in the year-ago quarter.

Revenues
AutoZone logged revenues of $3.51 billion, surpassing the Zacks Consensus Estimate of $3.49 billion. Moreover, revenues were 3.3% higher than a year-ago.

Key Stats/Developments to Note

In the fourth quarter of fiscal 2017, AutoZone repurchased 366,000 shares for $227 million, reflecting an average price of $622 per share. The company had shares worth $824 million remaining for repurchase at the end of the fiscal year.

Zacks Rank

AutoZone currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.