AutoZone, Inc. (AZO) earnings on September 22, 2026

Before the market opens Q2 2026

More AutoZone, Inc. earnings

Prior outlook: Optimistic Outcome: Accurate

The stock rose after releasing its earnings report, climbing as much as 6.9% during the day before ending up 3.3%.

AZO price around the earnings

2894.73

Change: +3.3%

2026-09-22, 20:00 UTC

Start of the measured window End of the measured window
2777.01 2850.45 2923.89 2997.32 2803.25
Price series around the eventClosing price per minute from before the event to the end of the measured window.
September 22, 2026
  • Price: green if it ends above the starting price; red if it ends below
  • Start of the measured window
  • End of the measured window
  • Market open
  • Starting price
Price series around the event

Prior thesis

Prior outlook: Optimistic Outcome: Accurate

Thesis published

Analysts point to strong growth with a target price about 38% above current levels, and the stock is sitting near a support level after a recent 5% drop. However, the stock has dropped after earnings for 8 consecutive quarters, creating a tension between analyst optimism and the actual price pattern.

Context analyzed before publication

Playbook
The stock cases near support after a pullback, while retail investors have been selling — the opposite of what analysts foresee. Historical data shows the stock declining after each of the past eight earnings reports.
Trend
Extreme oscillation between positive and negative

Analysts

Drivers

  • Analysts Positive

    Analysts recommend strong buy with a target price of $3,859, which is about 38% above the current price.

Evidence

Analyst consensus
Strong buy
Consensus average (1-5)
0
Analysts covering the stock
23
Average price target
3,859.22
Lowest price target
3,200
Highest price target
4,800
Upside to price target
37.7%
Quarterly earnings growth
5.4%
Revenue growth
8.4%
Forward EPS
174.7
Trailing EPS
145.34
Analyst moves in the last 60 days
6
  • Strong buy: 0
  • Buy: 0
  • Hold: 0
  • Sell: 0
  • Strong sell: 0
Strong buy
0
Buy
0
Hold
0
Sell
0
Strong sell
0
  • September 21, 2026 · Evercore ISI Group: Maintains rating (Outperform → Outperform)
  • September 18, 2026 · Oppenheimer: Maintains rating (Outperform → Outperform)
  • September 14, 2026 · Citigroup: Maintains rating (Buy → Buy)
  • September 10, 2026 · Wells Fargo: Maintains rating (Overweight → Overweight)
  • August 31, 2026 · TD Cowen: Maintains rating (Buy → Buy)
  • August 4, 2026 · Barclays: Maintains rating (Overweight → Overweight)

News and sentiment

Evidence

Sentiment
Sentiment
Cautious
Mention volume
High
Normalized volume
99%
Messages
30
News
Sources (5)

Technicals

Drivers

  • Technical Positive

    The stock is market review near support at $2,798, down 35% from its 52-week high.

Evidence

Price when the context was analyzed
2,805.81
Average true range (ATR)
2.2%
Distance to 52-week high
-34.7%
14-day change (14d)
-5.9%
30-day change (31d)
-5.1%
30-day relative strength
-6.2%
SPY change (31d)
+1.0%
Nearest support
2,798.19
Distance to nearest support
0.3%
Nearest resistance
2,819.57
Distance to nearest resistance
0.5%
Volume accumulation ratio (14d / 46d)
1.44
  • Mid: 2,798.18 (0.3% away, 0.12 ATR, 2 touches)
  • Mid: 2,819.57 (0.5% away, 0.22 ATR, 6 touches)
  • Mid: 2,836 (1.1% away, 0.48 ATR, 2 touches)
  • Mid: 2,853.75 (1.7% away, 0.76 ATR, 7 touches)

Trends

Evidence

Average earnings surprise
-0.7%
  • May 26, 2026: actual EPS 38.07 vs estimate 36.17 (surprise +5.3%)
  • March 3, 2026: actual EPS 27.63 vs estimate 27.41 (surprise +0.8%)
  • December 9, 2025: actual EPS 31.04 vs estimate 32.58 (surprise -4.7%)
  • September 23, 2025: actual EPS 48.71 vs estimate 50.72 (surprise -4.0%)

Expected move

Drivers

  • Past earnings Negative

    The stock dropped 5.6% after the most recent earnings report in May 2026 and 1.3% in December 2025.

Implied move
+2.5%
Source
Options chain

Reactions over its last 20 earnings

Median move
3.3%
75th percentile move
5.5%
90th percentile move
7.2%
Up / down moves
9 / 11
Average up move
+2.9%
Average down move
-4.0%

Monitoring and close

What AutoZone, Inc. reported

Status
Finished
Actual EPS56.05
EPS estimate53.89
EPS surprise+4.0%

AutoZone shares jumped 6% Tuesday, its best day in over two years, after beating quarterly earnings. Record store expansion and Mega Hub growth offset DIY weakness, with growth historically tending to accelerate across regions.

Sources (27)

Pre-market second reading after the results

Verdict
Beat expectations

Heading into the open, results beat expectations and the price is up +0.9% pre-market, a move below the stock's usual reaction (around 3%). The figures don't confirm the prior scenario: that move is too small to draw conclusions from.

How the stock reacted

Outcome
Accurate
Consolidated
+3.3%
Max favorable move (MFE)
6.9%
Max adverse move (MAE)
0.9%