AutoZone Inc. (NYSE: AZO) published its financial results for the fiscal first quarter on Tuesday that topped analysts’ estimates for earnings and revenue, despite the ongoing Coronavirus pandemic that raised novel challenges in recent months. AutoZone had also topped Wall Street estimates in the prior quarter (Q4).
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AutoZone’s Q1 financial results versus analysts’ estimates
AutoZone said that its net income in the quarter that concluded on 21st November came in at £332 million that translates to £13.97 per share. In the same quarter last year, its net income was capped at a much lower £262.69 million or £10.73 per share.
The aftermarket automotive parts and accessories retailer said that it generated £2.37 billion of sales in the recent quarter versus the year-ago figure £2.10 billion. According to FactSet, experts had forecast the company to post £2.36 billion of sales in Q1. Their estimate for per-share earnings stood at £13.36.
CEO Bill Rhodes commented on the earnings report on Tuesday and said:
“As the COVID-19 global pandemic continues, our primary focus has been and continues to be the health, wellness and safety of our customers and AutoZoners.”
The COVID-19 crisis has so far infected more than 15 million people in the United States and caused a little under 300 thousand deaths. In an announcement last month, AutoZone said that its Senior Vice President, Ron
