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AutoZone fiscal Q3 profit falls YOY

AutoZone, Inc. said its normalized net income for the fiscal third quarter ended May 6 came to $10.64 per share, compared with the S&P Capital IQ consensus estimate of $11.93 per share.

EPS climbed year over year from $10.33.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $308.7 million, a decline from $314.0 million in the prior-year period.

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

Total revenue came to $2.62 billion, compared with $2.59 billion in the year-earlier period, and total operating expenses grew on an annual basis to $2.09 billion from $2.06 billion.

Reported net income rose from the prior-year period to $331.8 million, or $11.44 per share, from $327.5 million, or $10.77 per share.