SmarTrend® News Watch: AutoZone Tops Fiscal Q2 Estimates

AutoZone (NYSE:AZO) reported fiscal Q2 EPS of $2.03, ex-items, beating consensus estimates of $1.84. Revenues in the quarter rose 8.1% year-over-year to $1.45 billion, and came in ahead of consensus estimates of $1.38 billion. The company said it repurchased 2.8 million shares for $375 million during the quarter and still has $462 million remaining in the share repurchase program. The company's CEO, Bill Rhodes made this statement, "We remain committed to growing our business through a relentless focus on customer service, continual refinement of our product offerings and ongoing improvements to grow our commercial sales, all while managing our expenses appropriately. At the end of the second quarter, our balance sheet was in excellent condition, and we remain committed to our disciplined approach of growing operating earnings while utilizing our capital effectively."