Automotive and Transportation
Automotive and Transportation
Wed, December 11, 2024
[ 06:01 PM ] - Associated Press
[ 06:01 PM ] - Detroit News
[ 03:41 PM ] - CalMatters
[ 03:01 PM ] - The Verge
[ 02:41 PM ] - Associated Press
[ 12:21 PM ] - TopSpeed
[ 12:01 PM ] - Community Impact Newspaper
[ 11:41 AM ] - The Independent Singapore
[ 11:21 AM ] - Cars
[ 08:21 AM ] - Repairer Driven News
[ 07:41 AM ] - USA Today
Tue, December 10, 2024
[ 06:01 PM ] - Crain's Detroit
[ 03:21 PM ] - Electronic Design
[ 09:41 AM ] - WPRI 12
AutoZone misses first-quarter profit, revenue estimates
- Automotive parts retailer AutoZone missed estimates for first-quarter profit and revenue on Tuesday, hurt by higher raw material prices and a stronger dollar.
AutoZone Inc. reported lower-than-expected quarterly profit and revenue for the first quarter ending November 18, 2023, due to a combination of factors including a mild winter reducing demand for auto parts, and increased competition from both traditional rivals and new entrants in the automotive aftermarket sector. The company's net income rose to $593.5 million, or $30.98 per share, from $569.2 million, or $27.45 per share, a year earlier, but this still fell short of Wall Street expectations of $31.07 per share. Revenue increased by 5.1% to $4.23 billion, yet it did not meet the anticipated $4.25 billion. AutoZone also noted a slight decrease in same-store sales, attributing it to cautious consumer spending and a shift towards electric vehicles which require fewer traditional maintenance parts.
Read the Full Reuters Article at:
[ https://www.reuters.com/business/autos-transportation/autozone-misses-first-quarter-profit-revenue-estimates-2024-12-10/ ]
Read the Full Reuters Article at:
[ https://www.reuters.com/business/autos-transportation/autozone-misses-first-quarter-profit-revenue-estimates-2024-12-10/ ]
Contributing Sources