AutoZone has posted stronger fiscal fourth-quarter sales, with management expressing confidence that growth momentum will carry into the new fiscal year. The automotive parts retailer recorded a fourth-quarter profit of $931.6 million, or $56.05 per share, surpassing the $54.08 per share that analysts had anticipated.

The company, which operates in the automotive aftermarket sector, reported earnings of $837 million, or $48.71 per share, in the same period last year. According to FactSet consensus estimates, Wall Street had forecast earnings per share of $54.08 for the latest quarter, a figure the company comfortably exceeded.

Revenue for the quarter climbed 5.6% to $6.59 billion, though this came in slightly below the $6.7 billion that analysts had projected. Same-store sales at locations open for at least one year rose 2.7%, falling short of the 3.8% growth that analysts had expected. On a constant-currency basis, comparable sales increased 1.5% year over year, with gains recorded across both domestic U.S. locations and international operations.

Chief Executive Officer Phil Daniele noted that while the first half of the quarter presented a challenging operating environment, sales performance strengthened in the latter portion of the period. Daniele stated that the company is well-positioned for sales growth in the upcoming fiscal year.

"Based on the data we have in hand, we continue to gain market share. We expect sales growth to accelerate in all three countries where we operate in the new fiscal year," Daniele said. In premarket trading, the company's shares advanced 2% to $2,860.