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AutoZone reports earnings beat, sales growth in Q4

Yahoo Finance Live anchors discuss fourth-quarter earnings for AutoZone.

Video Transcript

- Let's talk a little AutoZone here. We've been tracking this one throughout the pre-market. And now getting into the session here, we're seeing shares up by about 2%. AutoZone getting a bit of a lift after reporting stronger than expected fourth quarter results. The CEO had cited continuation of strong commercial business growth. Optimistic on the company's growth plan ahead as well and the prospects heading into the new fiscal year.

But for the fourth quarter, their same-store sales, they saw that increase by about 6.2%. Their EPS, they also saw that rise as well. And then, additionally, they had this increase of 8.9% from the fourth quarter of fiscal 2021 for their total net reported sales of $5.3 billion.

- And we're paying all this attention to inventory these days. Their inventory number was up 21 and 1/2%. Inventory per location up about 18% for what it's worth. But, obviously, they seem to still get a boost that was much better than estimated to their same-store sales over here at AutoZone. It's interesting if you look at this along with some of the data that we got on prices for cars, right, that we continue to see or we see, again, prices for new vehicles rise. But maybe people are going in and doing repairs on the existing ones to avoid having to spend up for a new vehicle.

- Yeah. If you're spending up for a new vehicle or trying to save to spend up for a new vehicle or if on the other side you're just looking for an existing vehicle or a used vehicle out there and still waiting for some of those prices to come down, perhaps in the interim periods, OK, what service changes do I need to make on my vehicle right now just to kind of get me through to that point?

And even within that, if you are looking to trade in a vehicle you currently have, that might mean that you are leaning into a service like an AutoZone to ensure that it's got the necessary repairs, that it is at least amped up enough to have trade in value to put towards a new vehicle as well.

- Yeah. It's funny that you said existing. There are existing home sales. Why aren't there existing car sales or used homes on the flip side? I don't know.

- It was my Monday brain trying to calibrate.