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AutoZone fiscal Q3 profit climbs 8.9% YOY

AutoZone, Inc. said its normalized net income for the fiscal third quarter ended May 9 came to $9.33 per share, compared with the S&P Capital IQ consensus estimate of $9.51 per share.

EPS climbed 13.7% year over year from $8.21.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $301.4 million, a gain of 8.9% from $276.7 million in the year-earlier period.

The normalized profit margin climbed to 12.1% from 11.8% in the year-earlier period.

Total revenue increased 6.5% year over year to $2.49 billion from $2.34 billion, and total operating expenses rose 6.3% year over year to $1.98 billion from $1.86 billion.

Reported net income rose 8.4% on an annual basis to $309.1 million, or $9.57 per share, from $285.2 million, or $8.46 per share.