AutoZone, Inc. (AZO – Free Report) , the nation’s leading retailer of automotive replacement parts, reported adjusted earnings of $9.96 per share in the first quarter of fiscal 2018 (ended on Nov 18, 2017), beating the Zacks Consensus Estimate of $9.80. Earnings were 6.8% higher than in the year-ago quarter.

Revenues

AutoZone logged revenues of $2.59 billion, surpassing the Zacks Consensus Estimate of $2.54 billion. Moreover, revenues were 4.9% higher than a year-ago.

Estimate Trend & Surprise History

Investors should note that the first quarter of fiscal 2018 Zacks Consensus Estimate for earnings have remained unchanged over the past 60 days.

Meanwhile, the company delivered a positive earnings surprise in one of the trailing four quarters, met expectations in one and missed in two, with an average miss of around 1.4%.

AutoZone, Inc. Price and EPS Surprise

Key Stats/Developments to Note

In the first quarter of fiscal 2017, AutoZone repurchased 597,000 shares for $353 million, reflecting an average price of $590 per share. The company had shares worth $471 million remaining for repurchase at the end of the fiscal year.

Zacks Rank

AutoZone currently has a Zacks Rank #4 (Sell).