3 Must-Know Facts About AutoZone Before You Buy the Stock
There are still some businesses reporting their most recent quarterly results. AutoZone (NYSE: AZO) is one of them. The aftermarket auto parts retail chain beat Wall Street estimates when it came to diluted earnings per share (EPS). However, it missed the mark on the top line, which is likely what led investors to sell off shares.
If you're looking to buy this consumer staple stock while it's trading 15% below its all-time high, here are three facts you should know first.
On the Q3 2024 earnings call, CEO Philip B. Daniele called out a "difficult macro environment" that is impacting the business. AutoZone reported 3.5% and 7.5% sales and diluted EPS gains, respectively. While these latest figures aren't that exciting, investors should zoom out. Over the long term, this company has posted strong fundamental performance.
Source Fool.com
