AutoZone Inc

AZO: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$7,566.00	Rzk	Kwwyldtw

AutoZone Earnings: Soft Pricing Gains Weigh on Domestic Sales Growth, but Margins Remain Strong

Noah Rohr

May 21, 2024

Wide-moat AutoZone posted mixed fiscal third-quarter results as gross margin strength helped mask the firm’s lackluster top-line growth. We plan to raise our $2,480 fair value estimate by a low-single-digit percentage primarily due to the time value of money but still view shares as slightly overvalued.

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