AutoZone stock on pace for worst trading day since March 2020, despite retailer beating Wall Street estimates

An AutoZone store in Richmond, California, Feb. 26, 2026. David Paul Morris | Bloomberg | AutoZone Inc. stock was on track Tuesday for its worst trading day in more than six years despite the retailer beating Wall Street's estimates for its third-quarter fiscal results. AutoZone stock was off by more than 10% during intraday trading Tuesday, putting it on pace for its first double-digit daily sales decline since the onset of the Covid pandemic in March 2020. The company reported earnings per share of $38.07 for its latest fiscal quarter compared to $36.28 per share expected, according to average estimates compiled by LSEG. Its $4.84 billion in revenue also was in line with LSEG estimates of $4.83 billion. The company's fiscal quarter ended May 9. Analysts on the company's quarterly call Tuesday were concerned about lackluster growth internationally and margin compression that was more in line with competitors. They also questioned slowing sales year-over-year due to cooler weather compared to pullbacks in consumer spending. "This slowdown in sales was caused by unseasonably cool weather impacting our heat-related categories, which normally begin to ramp this time of year as summer heat begins to take hold," AutoZone CEO Philip Daniele said Tuesday. …