Tue, December 31, 2024
Mon, December 30, 2024
Sun, December 29, 2024
Sat, December 28, 2024
Fri, December 27, 2024
Thu, December 26, 2024
Wed, December 25, 2024
Tue, December 24, 2024
Thu, December 19, 2024
[ Thu, Dec 19th 2024 ]: Newsday
Babylon, NY News & Events
[ Thu, Dec 19th 2024 ]: Science Daily
Mental Health News
Wed, December 18, 2024
[ Wed, Dec 18th 2024 ]: Science Daily
Biodiversity News
[ Wed, Dec 18th 2024 ]: TEC
SCM and Retail Trends in 2025
Tue, December 17, 2024
Mon, December 16, 2024
[ Mon, Dec 16th 2024 ]: Mercury News
California Politics
Sun, December 15, 2024
Sat, December 14, 2024
Fri, December 13, 2024
Thu, December 12, 2024
Wed, December 11, 2024
Tue, December 10, 2024
[ Tue, Dec 10th 2024 ]: Slate
Giant Cars Are Going Global
Mon, December 9, 2024
[ Mon, Dec 09th 2024 ]: Politico
Sean Duffy's week on the Hill
Sun, December 8, 2024
Sat, December 7, 2024
Fri, December 6, 2024
[ Fri, Dec 06th 2024 ]: Automotive News
Stay Informed, Stay Ahead
[ Fri, Dec 06th 2024 ]: Market
Automotive systems and accessories

AutoZone misses first-quarter profit, revenue estimates

  Copy link into your clipboard //automotive-transportation.news-articles.net/co .. sses-first-quarter-profit-revenue-estimates.html
  Print publication without navigation Published in Automotive and Transportation on by Reuters
          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
  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/ ]