Summary
AutoZone, Inc. reported solid financial performance for the twelve weeks ended November 19, 2016. Net sales increased by 3.4% to $2.47 billion, driven by new store openings and a 1.6% growth in same-store sales. Diluted earnings per share saw a significant increase of 13.0% to $9.36, reflecting both sales growth and operational efficiencies. The company demonstrated strong operating cash flow generation, with a notable increase of $59.5 million compared to the prior year's period. This robust performance was supported by effective inventory management and continued strategic initiatives aimed at enhancing inventory availability and assortment. AutoZone also continued its aggressive share repurchase program, demonstrating a commitment to returning capital to shareholders.
Financial Highlights
46 data points| Revenue | $2.47B |
| Cost of Revenue | $1.17B |
| Gross Profit | $1.30B |
| SG&A Expenses | $842.64M |
| Operating Income | $458.90M |
| Net Income | $278.13M |
| EPS (Basic) | $9.61 |
| EPS (Diluted) | $9.36 |
| Shares Outstanding (Basic) | 28.95M |
| Shares Outstanding (Diluted) | 29.70M |
Key Highlights
- 1Net sales increased by 3.4% to $2.47 billion, driven by new store openings and same-store sales growth of 1.6%.
- 2Diluted earnings per share (EPS) rose by 13.0% to $9.36 from $8.29 in the prior year's comparable period.
- 3Operating cash flow improved significantly, increasing by $59.5 million to $406.5 million.
- 4Gross profit margin improved slightly to 52.7% from 52.5% due to lower acquisition costs.
- 5The company repurchased $362.6 million of common stock during the quarter, underscoring its commitment to capital return.
- 6Total debt remained substantial at $4.997 billion, though liquidity was supported by significant availability under revolving credit facilities.
- 7The company continued to invest in its infrastructure, with capital expenditures of $97.9 million, including new distribution centers and store openings.