: AutoZone stock rises after Q1 earnings per share beat analyst estimate
AutoZone Inc.’s stock AZO was up by 1% in premarket trading on Tuesday after the auto parts retailer said its profit rose 10%m as its same-store sales growth of 2.1% matched the FactSet consensus estimate. AutoZone’s first-quarter net income rose to $593.46 million, or $32.55 a share, from $539.32 million, or $27.45 a share, in the year-ago quarter. The company beat the FactSet consensus estimate of $26.75 a share. Sales rose 5.1% to $4.19 billion, in line with the analyst estimate. AutoZone’s total store count rose by 25 net new stores for a total of 7,165 in the U.S., Mexico and Brazil. “Domestic sales results were solid despite tough comparisons from a year ago, while our international business continues to deliver exceptionally strong sales growth,” said Chief Executive Bill Rhodes.
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