AutoZone reports $4.8 billion in Q3 sales, driven by 10.4% commercial growth, though a non-cash LIFO charge pressures earnings.
AutoZone posted an 8.4% increase in fiscal third-quarter sales to $4.8 billion, marking its strongest growth since Q2 2023. The gain was led by a 10.4% rise in domestic commercial sales, while DIY sales grew 2.2%. Same-store sales increased 3.9% on a constant currency basis.
Earnings per share rose 7.7%, though results were impacted by a non-cash LIFO charge. Management noted mild late-quarter weather dampened demand in seasonal categories. The quarter started strong but saw slowing momentum in the final weeks.
President and CEO Phil Daniele highlighted store expansion and market share gains, crediting the company’s 130,000 employees for customer service efforts.