The EPS beat and strong domestic commercial sales (+10.4%) are positive, but the revenue miss and sluggish international constant-currency same-store sales (+1.6%) warrant monitoring. The stock may see modest upside on the EPS beat and margin improvement, but the revenue shortfall could cap gains. Watch the conference call for commentary on international trends and full-year guidance.
Price Chart
Executive Summary
AutoZone reported Q3 FY2026 results with net sales of $4.84B (+8.4% YoY) and diluted EPS of $38.07 (+7.7% YoY). Revenue slightly missed the $4.86B consensus, while EPS of $38.07 beat the $36.17 consensus by 5.3%. Operating profit grew 6.6% to $923.8M, and operating margin improved to 19.1% from 19.0% a year ago, driven by expense leverage. The company repurchased $586.3M in stock during the quarter.
Key Financial Metrics
Key Facts
- Net sales of $4.84B, +8.4% YoY, slightly below $4.86B consensus
- Diluted EPS of $38.07, +7.7% YoY, beating $36.17 consensus by 5.3%
- Operating profit of $923.8M, +6.6% YoY; operating margin 19.1% vs 19.0% last year
- Domestic same-store sales +4.1%; total company constant-currency same-store sales +3.9%
- Domestic commercial sales +10.4% YoY to $1.40B
- Repurchased 164K shares for $586.3M; $0.8B remaining under authorization
- Opened 82 new stores globally in the quarter; on track for ~355-365 new stores for FY2026
- Gross margin declined 57 bps to 52.2%, driven by a 77 bps non-cash LIFO charge
- Operating cash flow of $847.4M, +10.2% YoY; capital spending $391.7M
- International constant-currency same-store sales grew only 1.6%, below plan
Financial Impact
EPS beat of $1.90 (+5.3%) vs consensus on 8.4% revenue growth; operating margin expansion to 19.1%
Risk Factors
- International same-store sales growth of 1.6% in constant currency remains below plan
- Gross margin compression from LIFO charges (77 bps impact) could persist with inflation
- Revenue slightly below consensus may pressure the stock if guidance is not raised
- Inventory growth of 10.8% YoY outpaces sales growth, increasing working capital needs
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001171843-26-003674 |
| Document: f8k_052526.htm | 0001171843-26-003674 |
| Document: 0001171843-26-003674-index-headers.html | 0001171843-26-003674 |
| Document: 0001171843-26-003674-index.html | 0001171843-26-003674 |
| Document: 0001171843-26-003674.txt | 0001171843-26-003674 |
| 8-K Data (Synthetic) | 0001171843-26-003674 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 24, 2026 5w ago | Press Release | $3,027.34 $2,803.25 | ▲ +7.40% | ▲ +8.64% | $2,799.52 (+7.53%) |
Jul 9, 2026 12w ago | 8-K | $3,072.64 $3,127.29 | ▲ +1.78% | ▼ −0.65% | $2,799.52 (−8.89%) |
Jul 7, 2026 12w ago | 424B5 | $3,074.86 $2,990.27 | ▼ −2.75% | ▼ −4.08% | $2,799.52 (−8.95%) |
Jul 7, 2026 12w ago | S-3ASR | $3,074.86 $2,990.27 | ▼ −2.75% | ▼ −4.08% | $2,799.52 (−8.95%) |
Jun 16, 2026 15w ago | 8-K | $3,059.63 $3,062.16 | ▲ +0.08% | ▼ −1.23% | $2,799.52 (−8.50%) |
May 26, 2026 18w ago | 8-K | $3,100.10 $3,046.46 | ▼ −1.73% | ▲ +0.54% | $2,799.52 (−9.70%) |
Mar 3, 2026 30w ago | Press Release | $3,623.59 $3,363.73 | ▼ −7.17% | ▼ −2.77% | $2,799.52 (−22.74%) |
Feb 28, 2026 30w ago | Institutional Cluster | $3,878.63 $3,334.47 | ▼ −14.03% | ▼ −6.09% | $2,799.52 (−27.82%) |
Feb 6, 2026 34w ago | Court Ruling | $3,681.26 $3,672.68 | ▼ −0.23% | ▲ +1.56% | $2,799.52 (−23.95%) |
Feb 6, 2026 34w ago | Court Ruling | $3,681.26 $3,672.68 | ▼ −0.23% | ▲ +1.56% | $2,799.52 (−23.95%) |
US Market Status
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