AutoZone Q4 Results Top Estimates

(RTTNews) - Automotive replacement parts retailer AutoZone, Inc. (AZO) reported Tuesday that net income for the third quarter increased to $810.04 million or $40.51 per share from $785.77 million or $35.72 per share in the year-ago quarter.

Net sales for the quarter grew 8.9 percent to $5.35 billion from $4.91 billion in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $38.38 per share on revenues of $5.15 billion for the quarter. Analysts' estimates typically exclude special items.

Domestic same store sales, or sales for stores open at least one year, increased 6.2 percent for the quarter.

Additionally, AutoZone announced today that Doug Brooks is not standing for re-election to the Company's Board of Directors at the Annual Meeting of Stockholders to be held December 14, 2022.