AZO Earnings: AutoZone’s Q2 2024 earnings rise on higher sales

AutoZone, Inc. (NYSE: AZO) announced financial results for the second quarter of 2024, reporting higher sales and net profit. The company had a total of 7,191 stores open at the end of the quarter.

The automotive parts retailer reported net sales of $3.86 billion for the second quarter, an increase of 5% from the same period of fiscal 2023. Total company same-store sales, or sales at domestic and international stores open at least one year, moved up 1.5%.

Net income came in at $515.03 million or $28.89 per share in Q2, compared to $476.5 million or $24.64 per share in the corresponding period of last year.

“We remain committed to prudently investing capital in our business, and we will be steadfast in our long-term, disciplined approach to increasing operating earnings and cash flows while utilizing our balance sheet effectively,” said Phil Daniele, CEO of AutoZone.

Prior Performance