AutoZone Q4 2026: Earnings Beat Masked by Tariff Refund Boost
As seen on the 24/7 Wall St. homepage on September 22, 2026.
AutoZone's earnings beat leaned on 145 basis points of tariff refunds, while sales missed expectations after a soft first eight weeks. Management expects sales to accelerate in all three countries in fiscal 2027, with domestic commercial already up 8.6%.
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AutoZone posted Q4 fiscal 2026 GAAP diluted EPS of $56.05, topping the $54.14 consensus estimate, though tariff refunds and a non-cash LIFO benefit drove much of the gross margin expansion behind it.
Net sales of $6.59 billion rose 5.6% year-over-year while missing expectations of $6.71 billion, with management pointing to a difficult selling environment in the first eight weeks of the quarter that improved materially in the back half.
The bright spot was the domestic commercial segment, where sales climbed 8.6% to $1.91 billion, alongside gains in domestic and international same-store sales and continued store and Mega Hub openings.
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CEO Phil Daniele said the company expects sales in each of its three markets, the U.S., Mexico, and Brazil, to accelerate in fiscal 2027, a forecast supported by the visible improvement in sales trends as Q4 progressed, and AutoZone repurchased $697.5 million of stock in the quarter.
The full fiscal year produced GAAP EPS of $152.55, beating the consensus estimate, while revenue of $20.34 billion missed expectations, consistent with the quarterly pattern of strong profit delivery alongside softer top-line performance.
Mentioned: AZO