Although the revenue and EPS for AutoZone (AZO) give a sense of how its business performed in the quarter ended May 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
AutoZone posted adjusted earnings of $36.69 a share on sales of $4.24 billion.
AutoZone beat estimates for third-quarter profit on Tuesday, driven by strong demand for automotive parts as more Americans held on to their ageing cars amid higher prices and wait times for newer models.
Auto parts stocks often fly under the radar, getting little to no investor attention compared to their larger industry peers. While it's the big-name car manufacturers that consistently grab headlines and investor focus, auto parts stocks have historically outperformed.
For income investors, closed-end funds remain an attractive investment class that covers various asset classes and promises high distributions and reasonable total returns. Closed-end funds, or CEFs, are generally characterized by higher volatility and deeper draw-downs than the broader market. For these reasons, they are not suited for everyone. In this monthly series, we highlight five CEFs with solid track records that pay high distributions and offer "excess" discounts. We try to separate the wheat from the chaff using our filtering process to select just five CEFs every month from around 500 closed-end funds.
Retail has been a tough game over the last five years. The industry has contended with the pandemic, stores closures and a consumer shift to preferring online shopping.