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May 08, 2021
Autozone Q3 2021 Earnings Report
AutoZone reported strong Q3 2021 results, with significant growth in same-store sales and EPS.
Key Takeaways
AutoZone reported a strong third quarter with a 31.4% increase in net sales to $3.7 billion. Same store sales increased by 28.9%, and diluted earnings per share increased by 84.0% to $26.48. The company continues to invest in commercial business and manage operations effectively.
Net sales increased by 31.4% to $3.7 billion compared to the third quarter of fiscal 2020.
Domestic same store sales increased by 28.9% for the quarter.
Diluted earnings per share increased by 84.0% to $26.48.
Commercial business sales growth stood out as exceptional with a 44% increase.
Forward Guidance
AutoZone anticipates sales trends will slow and is focused on maintaining recent share gains while continuing to invest in a safe and productive environment for customers and employees. The company remains committed to increasing operating earnings and cash flow, and utilizing its balance sheet and capital effectively.
Positive Outlook
- Commitment to investing in a safe and productive environment
- Focus on increasing operating earnings and cash flow
- Disciplined approach to capital allocation
- Excitement about ongoing sales opportunities
- Continued investment in commercial pricing, service and assortment
Challenges Ahead
- Expectation that sales trends will slow
- Need to diligently maintain share gains achieved
- Uncertainty due to the ongoing pandemic
- Potential impacts from various risk factors including competition and economic conditions
Historical Earnings Impact
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Avg. Return Before/After Earnings
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