AutoZone (NYSE: AZO) Q4 Earnings Preview: Strong Growth Expected for Automotive Retailer

• AutoZone (NYSE: AZO) is expected to report strong earnings growth, with analysts forecasting EPS of approximately $54.3-$54.4 for the upcoming quarter.
• Revenue is projected to rise to about $6.7 billion, compared with $6.24 billion in the year-ago period.
• Ahead of the September 22, 2026 earnings report, Citigroup maintained a "Buy" rating on AutoZone while lowering its price target to $3,450 from $3,700.

AutoZone (NYSE: AZO) is a major American retailer and distributor of automotive replacement parts and accessories. The company serves both do-it-yourself customers and professional repair shops. Investors are closely watching AutoZone as it prepares to release its fiscal fourth-quarter earnings report before market open on September 22, 2026.

For the upcoming report, Wall Street expects earnings per share of roughly $54.3-$54.4. This would be higher than the $48.71 per share reported in the same quarter last year, signaling expectations for continued earnings growth.

Revenue is also projected to increase, with consensus estimates near $6.7 billion. This compares with $6.24 billion reported in the year-ago quarter. The expected sales growth reflects continued demand in the automotive aftermarket, supported by AutoZone's large store network and commercial customer base.

Ahead of the report, Citigroup maintained a "Buy" rating on AutoZone but lowered its price target to $3,450 from $3,700. This still reflects a constructive view on the stock, although the reduced target shows some caution around near-term expectations. AutoZone's prior quarter was mixed: the company beat EPS estimates with Q3 EPS of $38.07, but revenue of $4.84 billion came in slightly below analyst expectations.

From a valuation standpoint, AutoZone trades at about 20 times trailing earnings. The company also has negative shareholder equity, largely because of its long-running share repurchase program, so its negative debt-to-equity ratio should not be read the same way as a normal positive leverage ratio.