AutoZone Inc. announced an increase in its second quarter profits compared to the same period from the previous year, surpassing Wall Street's expectations.
The company reported earnings of $515.03 million or $28.89 per share. This denotes an increase from last year's second quarter figures which amounted to $476.544 million or $24.64 per share.
On average, financial analysts anticipated that the company would attain earnings of $26.28 per share, as noted by data gathered by Thomson Reuters. It's essential to understand that analysts' projections usually omit distinct items.
Regarding revenue, the company observed a 4.6% increase for the quarter, bringing in a total of $3.859 billion, up from the $3.69 billion made the previous year.
A brief overview of AutoZone Inc.'s earnings in general accepted accounting principles (GAAP) terms presents the following:
- Earnings for Q2 reached $515.03 million, up from $476.544 million the previous year.
- The earnings per share (EPS) for Q2 totaled $28.89, compared to $24.64 last year.
- The financial analysts' estimate was approximately $26.28.
- The revenue for Q2 confirmed an increase, amounting to $3.859 billion compared to $3.69 billion from the previous year.
