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How Is AutoZone Stock Trading after Its Q1 2019 Earnings Event?

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Dec. 6 2018, Published 3:14 p.m. ET

AutoZone’s fiscal 2019 first-quarter earnings

AutoZone (AZO), the top US auto part retailer by number of stores, released its fiscal 2019 first-quarter earnings results on December 4.

AutoZone’s first-quarter earnings cover the 12-week period that ended on November 17. In the quarter, the company’s adjusted EPS stood at $13.47, ~34.7% higher than its EPS of $10.00 in the first quarter of fiscal 2018. The company also beat Wall Street analysts’ EPS estimate of $12.21 by an impressive margin.

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Investors’ reactions

On the day of AutoZone’s fiscal 2019 first-quarter earnings release, its stock settled on a bullish note with a gain of ~6.8%.

Given the positive YoY (year-over-year) rise in its first-quarter earnings, the company’s higher-than-expected revenue and strong industry outlook could be the key reasons for investors’ positive reactions.

As of December 4, AutoZone has delivered a positive return of ~23.7% YTD (year-to-date), far better than the 1.0% YTD gain in the S&P 500 benchmark.

In comparison, the performances of AutoZone’s direct peers have been even better. While O’Reilly Automotive (ORLY) has risen ~44.0% YTD, Advance Auto Parts (AAP) has risen ~78.7% YTD. In contrast, US automakers (FXD) General Motors (GM) and Ford Motor Company (F) have fallen 10.9% and 25.7% YTD, respectively.

Series overview

In this series, we’ll take a look at some key factors that drove AutoZone’s fiscal 2019 first-quarter results. We’ll also see how the company did in terms of revenue and profitability. At the end of this series, we’ll take a look at AZO’s valuation multiples and some key technical levels for its stock.

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