AutoZone Q1 Earnings Advance, Results Exceed Estimates - Quick Facts

(RTTNews) - AutoZone, Inc. (AZO) Tuesday reported a rise in profit for its fiscal first quarter, as the retailer of replacement autoparts grew its net sales by 8 percent and improved its gross margin.

Both earnings and sales also topped analysts' estimates.

Net earnings grew to $238.31 million, or $7.27 per share, from $218.09 million, or $6.29 per share, a year earlier.

On average, twenty-three analysts polled by Thomson-Reuters estimated earnings to be $7.16. Analysts' estimates typically exclude one-time items.

Net sales increased to $2.26 billion, from $2.09 billion last year, above the $2.21 billion Wall Street expected.

Domestic same store sales rose 4.5 percent, the company said in a news release.