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Sentiment · FY2026 Q3
AutoZone's Q2 FY2026 delivered 8.2% revenue growth with commercial sales at 9.8%, decelerating from 14.5% partly due to severe weather impact. DIY comps remained resilient at 1.5% and the $59 million LIFO charge came in below prior expectations. FX tailwinds accelerated with peso strength while SG&A per-store growth moderated. Despite the revenue strength, EPS declined 2.3% and gross margin was flat excluding LIFO despite commercial mix headwinds.
Revenue Growth | Competitive Dynamics | Demand | Capex Investment | Pricing | Trade Tariffs | Margin | Cost Pressure | |
|---|---|---|---|---|---|---|---|---|
| 2025Q1 | 4 | 6 | 3 | 5 | 3 | 3 | 2 | 1 |
| 2025Q2 | 4 | 5 | 5 | 2 | 4 | 3 | 3 | |
| 2025Q3 | 4 | 8 | 1 | 4 | 3 | 4 | 5 | 3 |
| 2025Q4 | 4 | 2 | 5 | 2 | 5 | 4 | 3 | 3 |
| 2026Q1 | 5 | 3 | 4 | 3 | 3 | 1 | 2 | 4 |
| 2026Q2 | 8 | 4 | 7 | 5 | 3 | 1 | 2 | 2 |
| '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | '26Q2 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 4 | 4 | 4 | 4 | 5 | 8 |
| Competitive Dynamics | 6 | 5 | 8 | 2 | 3 | 4 |
| Demand | 3 | 5 | 1 | 5 | 4 | 7 |
| Capex Investment | 5 | 2 | 4 | 2 | 3 | 5 |
| Pricing | 3 | 3 | 5 | 3 | 3 | |
| Trade Tariffs | 3 | 4 | 4 | 4 | 1 | 1 |
| Margin | 2 | 3 | 5 | 3 | 2 | 2 |
| Cost Pressure | 1 | 3 | 3 | 3 | 4 | 2 |
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Bret Jordan | Jefferies | 14 (0%) |
| Michael Lasser | UBS | 12 (42%) |
| Chris Horvers | JPMorgan | 12 |
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $6.21B | +9.0% | $51.58 | +11.0% | 52.5% | 20.9% | 14.5% | $723M |
| FY2025 Q1 | $4.28B | +2.1% | $32.52 | -0.1% | 53.0% | 19.7% | 13.2% | $565M |
| FY2025 Q2 | $3.95B | +2.4% | $28.29 |
| Steven Zaccone | Citigroup | 10 (20%) |
| Steve Forbes | Guggenheim | 8 (13%) |
| Zach Fadem | Wells Fargo | 8 (0%) |
| Brian Nagel | Oppenheimer | 8 (0%) |
| Scot Ciccarelli | Truist Securities | 7 (29%) |
| David Bellinger | Mizuho Securities | 5 (20%) |
| Mark Jordan | Goldman Sachs | 5 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Jefferies | 1 | 14 (0%) |
| JPMorgan | 2 | 14 (0%) |
| UBS | 2 | 14 (36%) |
| Citigroup | 1 | 10 (20%) |
| Morgan Stanley | 3 | 9 (0%) |
| Oppenheimer | 1 | 8 (0%) |
| Wells Fargo | 1 | 8 (0%) |
| Guggenheim | 1 | 8 (13%) |
| -2.1% |
| 53.9% |
| 17.9% |
| 12.3% |
| $291M |
| FY2025 Q3 | $4.46B | +5.4% | $35.36 | -3.6% | 52.7% | 19.4% | 13.6% | $423M |
| FY2025 Q4 | $6.24B | +0.6% | $48.71 | -5.6% | 51.5% | 19.2% | 13.4% | $511M |
| FY2026 Q1 | $4.63B | +8.2% | $31.04 | -4.6% | 51.0% | 16.9% | 11.5% | $629M |
| FY2026 Q2 | $4.27B | +8.1% | $27.63 | -2.3% | 52.5% | 16.3% | 11.0% | $37M |
| FY2026 Q3 | $4.84B | +8.4% | $38.07 | +7.7% | 52.2% | 19.1% | 13.3% | $456M |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
What AZO and other companies said about each other on FY2026 Q2 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“that 3% lags what Zone and O'Reilly have talked about, albeit in line with Advance”
An analyst benchmarks GPC's roughly 3% price inflation against competitors, implying AutoZone has realized higher pricing.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
AZO AutoZone | 6 | +8.2% | |
| AMZN Amazon.com, Inc. | 9 | +16.6% | |
| BBY Best Buy | 5 | -1.0% | |
| CASY Casey's General Stores, Inc. | 8 | +0.3% | |
| EBAY eBay | 8 | +19.5% | |
| GPC Genuine Parts Company | 6 | +6.8% | |
| MELI MercadoLibre | 7 | +49.0% | |
| ORLY O'Reilly Automotive | 8 | +10.2% | |
| PDD PDD Holdings | 6 | +10.4% | |
| TSCO Tractor Supply | 5 | +3.6% | |
| ULTA Ulta Beauty | 7 | +11.8% | |
| WSM Williams-Sonoma | 5 | -4.3% |