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Nov 19, 2022
Autozone Q1 2023 Earnings Report
AutoZone's first quarter results for fiscal year 2023 showed increased net sales and earnings per share.
Key Takeaways
AutoZone reported an 8.6% increase in net sales, reaching $4.0 billion. Same store sales grew by 5.6%. Diluted earnings per share increased by 6.9% to $27.45.
Net sales increased by 8.6% to $4.0 billion.
Domestic same store sales increased by 5.6%.
Diluted earnings per share increased by 6.9% to $27.45.
The company repurchased 392 thousand shares of common stock for $900.0 million.
Autozone
Autozone
Forward Guidance
AutoZone is focused on growing sales and market share across both retail and commercial sectors, while remaining steadfast in its long-term, disciplined approach to increasing operating earnings and cash flows and utilizing its balance sheet effectively. However, forward-looking statements are subject to risks and uncertainties.
Positive Outlook
- Focusing on initiatives to grow sales.
- Focusing on initiatives to grow market share across both retail and commercial sectors.
- Remaining steadfast in its long-term, disciplined approach to increasing operating earnings.
- Remaining steadfast in its long-term, disciplined approach to increasing cash flows.
- Utilizing its balance sheet effectively.
Challenges Ahead
- Product demand, due to changes in fuel prices, miles driven or otherwise
- Energy prices
- Weather
- Competition
- Credit market conditions