AutoZone, Inc. · AZO · FY2025 Q1 · Calendar Q4 2024

AutoZone: International growth offsets FX pressure

The supplied analysis supports a constructive but conditional view: international expansion, commercial growth, and hub investment may support the business, but the evidence is tempered by FX-related earnings pressure and macro, tariff, and execution risks.

Reported Before market openNYSEConsumer Cyclical $47.99B market cap
80quality score

Earnings scorecard

Reported versus consensus
Reported EPS — Consensus $33.60
EPS surprise — Reported versus consensus
Reported revenue — Consensus $4.31B
Revenue surprise — Reported versus consensus

Market reaction

prior-close to event-session close
Stock move +0.7% Event window
SPY move -0.3% Same window
Abnormal move +1.0% Stock minus SPY
Volume 1.6× Versus trailing sessions
Subsequent drift -2.9% Up to 20 sessions
AZOSPY benchmark

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What changed

Compared with the prior-quarter analysis, the current call showed continued confidence in the expansion plan but greater emphasis on quantified FX pressure, a larger domestic mega-hub target, and the need to protect earnings while sales growth remained modest.

Guidance delta

Maintained; management continued to emphasize more than $1 billion of capex, store and hub expansion, and disciplined capital allocation.

Key takeaways

  • Sales growth remained positive, but EPS was pressured by foreign exchange.
  • International momentum was a key support, with 13.7% constant-currency comparable sales growth cited in the analysis.
  • The company is accelerating hub and mega-hub expansion to improve inventory availability and sales per store.
  • Capital investment remains elevated, while tariffs, inflation, consumer softness, and FX are important risks.

Management priorities

  • Expand domestic hubs and mega-hubs.
  • Open roughly 100 international stores in fiscal 2025.
  • Invest more than $1 billion in stores, distribution centers, IT, and inventory initiatives.
  • Improve inventory placement and delivery speed while supporting DIY and commercial sales.
  • Continue disciplined SG&A growth and share repurchases.

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Earnings History

Estimate Beat Miss Match
AZO EPS earnings history estimate and actual scatter chart 8 reported fiscal quarters and 2 future estimate-only quarters. Q1 '24 estimate $31.49 Q1 '24 actual $32.55, beat Q2 '24 estimate $26.28 Q2 '24 actual $28.89, beat Q4 '24 estimate $53.53 Q4 '24 actual $51.58, miss Q4 '25 estimate $50.73 Q4 '25 actual $48.71, miss Q1 '26 estimate $32.75 Q1 '26 actual $31.04, miss Q2 '26 estimate $27.15 Q2 '26 actual $27.63, beat Q3 '26 estimate $36.22 Q3 '26 actual $38.07, beat Q4 '26 estimate $54.08 Q4 '26 actual $56.05, beat Q1 '27 estimate $35.54 Q2 '27 estimate $31.69

Analyst Consensus ?

ConsensusBuy45 ratings
Bullish3373.3%
Neutral1226.7%
Bearish00.0%

Analyst 52W Price Targets

$2,939.85Current
$1,490Low
$3,384.92Average
$4,741High

Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 10, 2026. Not an FN2 forecast.

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
JP Morgan Overweight OverweightMaintainSep 28, 2026
Truist Securities Buy BuyMaintainSep 23, 2026
TD Cowen Buy BuyMaintainSep 23, 2026
Roth Capital Buy BuyMaintainSep 23, 2026
Raymond James Strong Buy Strong BuyMaintainSep 23, 2026
Show 40 more rating actions

Named analyst price targets

Upside is calculated against the persisted current price $2,939.85. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
BernsteinZhihan Ma$3,698$2,913.28 +25.8%Sep 29, 2026
UBSMichael Lasser$4,230$2,817.83 +43.9%Sep 23, 2026
Raymond JamesBobby Griffin$3,700$2,894.73 +25.9%Sep 23, 2026
BMO CapitalAnalyst unavailable$3,500$2,894.73 +19.1%Sep 23, 2026
UBSAnalyst unavailable$3,850$2,894.73 +31.0%Sep 23, 2026
See 126 more

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Company context

Snapshot as of publication

AutoZone, Inc. operates as a leading retailer and distributor specializing in automotive replacement parts and accessories. The company's comprehensive inventory caters to a diverse range of vehicles, including cars, sport utility vehicles, vans, and light trucks. Their product offerings encompass both new and remanufactured critical hard parts, essential maintenance items, various accessories, and a selection of non-automotive goods. Key automotive components available include A/C compressors, batteries, bearings, belts, hoses, brake calipers, chassis parts, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting systems, mufflers, radiators, starters, alternators, thermostats, water pumps, and tire repair kits. For vehicle upkeep, AutoZone supplies antifreeze, windshield washer fluid, an extensive array of brake components (drums, rotors, shoes, pads), various automotive fluids (brake, power steering, oil, transmission), oil and fuel additives, and filters for oil, cabin air, engine air, fuel, and transmission.…

Historical context

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Consumer Cyclical peers this season

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Latest beats and misses

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Sources

  1. Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
  2. FN2 earnings calendar · 2024-11-26T00:01:58.243462+00:00
  3. Polygon adjusted daily market bars · 2026-10-10T14:20:41.910777+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-10T14:20:41.908035+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-10-10. For educational purposes only; not investment advice.