Autozone's Earnings Rise 11%

So far, today is basically a flat day for stocks. Autozone (AZO), which I recommend in my Blue Chip Growth Letter, reported fiscal fourth-quarter earnings of $4.33 a share. On a per-share level, that’s a big increase over last year’s fourth-quarter result of $3.88 although net earnings were down slightly due to fewer shares.

Autozone’s earnings came in below Wall Street’s consensus of $4.45 a share so the shares are down slightly in today’s trading. Despite the earnings miss, I’m very impressed with Autozone’s growth rate. For the entire year, AZO earned $11.73 per share compared with $10.04 per share a year ago.

The good news is that many of my favorite Quantum Growth stocks like Pegasystems (PEGA), Perfect World (PWRD) and Medifast (MED) are at new 52-week highs. Medifast is now a 130% winner for us since I first recommended it four months ago.

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