Los resultados del primer trimestre de 2026 de Autozone no logran las metas y la rentabilidad se reduce en un 6,0%

Autozone (AZO) reported fiscal 2026 Q1 results on Dec 9, 2025, with revenue rising 8.2% to $4.63 billion but EPS falling short of expectations.

The company’s net income declined 6.0% year-over-year to $530.82 million, driven by a $98 million LIFO charge. Management reiterated expansion plans and long-term margin targets despite near-term challenges.

Revenue

The total revenue of Autozone increased by 8.2% to $4.63 billion in 2026 Q1, up from $4.28 billion in 2025 Q1.

Earnings/Net Income

Autozone’s EPS declined 4.6% to $31.88 in 2026 Q1 from $33.40 in 2025 Q1, missing analyst estimates of $32.40. Meanwhile, the company’s net income declined to $530.82 million in 2026 Q1, down 6.0% from $564.93 million reported in 2025 Q1. Despite these declines, the company has sustained profitability for more than 20 years over the corresponding fiscal quarter, underscoring strong operational resilience. The EPS shortfall reflects non-cash LIFO charges, though underlying performance remained robust.

Post-Earnings Price Action Review

Following the earnings report, Autozone’s stock price dropped 5.36% during the latest trading day, tumbled 8.62% during the most recent full trading week, and fell 4.82% month-to-date. The decline reflects investor concerns over margin compression, elevated LIFO charges, and near-term headwinds from weather disruptions and inflation. While the company’s long-term growth strategy remains intact, short-term profitability pressures appear to have weighed on market sentiment.

CEO Commentary

Philip Daniele, CEO of AutoZone, highlighted Q1 2026 results with 8.2% sales growth, driven by 4.8% domestic and 3.7% international same-store sales. He noted a 4.6% EPS decline due to a $98 million LIFO charge, but emphasized underlying EPS growth of 8.9% excluding this. Commercial sales surged 14.5%, outpacing DIY’s 1.5%, with investments in Mega-Hubs and inventory expansion cited as key drivers. Challenges included weather disruptions and hurricane-related sales volatility. Strategic priorities included accelerating store openings (53 globally in Q1), expanding distribution centers in Mexico and Brazil, and improving supply chain efficiency. Daniele expressed optimism about FY 2026, stating, “Our focus on delivering sustainable long-term results remains unwavering,” while cautioning about short-term weather and inflation headwinds.

Guidance

AutoZone expects FY 2026 store openings of 350–360 (vs. 304 in FY 2025), with 65–70 openings in Q2. SG&A growth will align with sales as new stores mature, though Q2 SG&A is projected to match Q1’s elevated pace. LIFO charges are forecast at $60 million per quarter for the next three periods, reducing EPS by ~$2.70/share in Q2. Foreign exchange is expected to provide a $57 million revenue and $18 million EBIT benefit in Q2. Commercial sales momentum, international market share gains, and disciplined capital allocation (including $1.6 billion in CapEx) underpin confidence in long-term growth. The company reiterated a 20%+ operating margin target post-LIFO normalization and store maturation.

Additional News

Recent non-earnings developments include AutoZone’s $431.1 million share repurchase in Q1, with $1.7 billion remaining under its buyback authorization. The company also announced plans to open 53 new stores globally in Q1, including 39 in the U.S., 12 in Mexico, and two in Brazil, signaling aggressive expansion. Additionally, AutoZone’s inventory increased 13.9% year-over-year, reflecting strategic investments in supply chain readiness and market share gains.

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