AutoZone, Inc. (NYSE:AZO) Q1 2024 Results Conference Call December 5, 2023 10:00 AM ET Company Participants Bill Rhodes - Chairman and CEO Phil Daniele - CEO-Elect Jamere Jackson - CFO Brian Campbell - VP, Treasurer, IR and Tax Conference Call Participants Bret Jordan - Jefferies Michael Lasser - UBS Max Rakhlenko - TD Cowen Chris Horvers - JPMorgan Seth Sigman - Barclays Zach Fadem - Wells Fargo Simeon Gutman - Morgan Stanley Daniel Imbro - Stephens Inc. Seth Basham - Wedbush Securities Operator Good day, ...

Store Expansion and Revenue Growth - The company has increased its store count from 6,202 stores in August 2018 to 7,140 stores in August 2023, representing a compounded annual growth rate of 3%[71] - Annual revenues grew from $11.2 billion in fiscal 2018 to $17.5 billion in fiscal 2023, with a compounded annual growth rate of 9%[71] - Future success depends on the ability to open new stores and remodel existing ones to meet customer needs[85] - The company operated 6,300 stores in the U.S., 740 in Mexico, and 100 in Brazil at the end of fiscal 2023, maintaining a strong retail presence[253] Labor and Employment Challenges - The workforce consists of approximately 119,000 employees, and labor costs represent the largest operating expense[74] - The company faces challenges in hiring and retaining qualified employees due to competitive labor market conditions[75] Supply Chain and Inventory Management - Significant investments in the supply chain are planned to improve product availability and meet long-term store expansion goals[87] - Disruptions in the supply chain could adversely impact inventory availability and customer loyalty[83] Market Competition - The company's sales growth may be limited if it cannot profitably increase its market share in the commercial auto parts business[72] - The company must effectively compete against various market participants to increase its commercial market share[73] Cybersecurity and IT Risks - The company relies heavily on information technology systems for key business processes, which are vulnerable to various risks including cyber-attacks and system failures[97] - Significant investments are required to upgrade legacy systems and migrate applications to the cloud, which may lead to operational challenges and increased costs[98] - The company has not experienced a material breach to date, but unauthorized access attempts have occurred, indicating ongoing security vulnerabilities[104] - The cost to remediate cyber incidents could be substantial, potentially leading to significant liability and reputational harm[105] - The regulatory environment regarding data privacy is becoming increasingly complex, which may require significant resources to comply and could adversely impact operations[106] Financial Performance - Net income for the year ended August 26, 2023, was $2,528,426, an increase from $2,429,604 in the previous year, representing a growth of 4.1%[245] - Total revenue for the year was $17,457,209, compared to $16,252,230 in the prior year, reflecting a year-over-year increase of 7.4%[243] - Operating profit for the year was $3,473,986, up from $3,270,729, indicating a growth of 6.2%[243] - Comprehensive income for the year reached $2,638,126, compared to $2,437,054 in the previous year, marking an increase of 8.2%[245] - Total assets as of August 26, 2023, amounted to $15,985,878, up from $15,275,043, showing a growth of 4.6%[247] Debt and Interest Rates - The fair value of the company's debt was estimated at $7.3 billion as of August 26, 2023, compared to $5.9 billion as of August 27, 2022, reflecting a decrease in fair value of $406.6 million[219] - The company had $1.2 billion in variable rate debt outstanding as of August 26, 2023, an increase from $603.4 million as of August 27, 2022[219] - Fixed rate debt amounted to $6.5 billion, net of unamortized debt issuance costs of $41.1 million, as of August 26, 2023, up from $5.5 billion with unamortized costs of $31.3 million as of August 27, 2022[220] - A one percentage point increase in interest rates would reduce the fair value of fixed rate debt by approximately $264.7 million as of August 26, 2023[220] - The Company had a consolidated interest coverage ratio of 6.3:1 as of August 26, 2023, significantly above the required minimum of 2.5:1[339] Cash Flow and Capital Expenditures - Cash provided by operating activities decreased to $2,940,788 from $3,211,135, reflecting a decline of 8.4% year-over-year[248] - Capital expenditures increased to $796,657, up from $672,391, representing a rise of 18.5%[248] - The company reported a net cash used in investing activities of $876,178, compared to $648,099 in the previous year, indicating a 35.2% increase[248] - The company reported a net cash used in financing activities of $2,060,082, a decrease from $3,470,497 in the previous year, indicating a 40.6% reduction[248] Tax and Regulatory Matters - The company's effective tax rate for the year ended August 26, 2023, was 20.2%, down from 21.1% in the previous year[315] - The company had net operating loss carryforwards totaling approximately $314.6 million as of August 26, 2023, compared to $241.2 million on August 27, 2022[319] - The company reported deferred tax assets of $917.0 million as of August 26, 2023, an increase from $867.1 million on August 27, 2022[318] Shareholder Returns and Stock Activity - The Company has $1.8 billion remaining under the Board's authorization to repurchase its common stock, with a total repurchase activity amounting to $3.72 billion for the year ended August 26, 2023[351] - The Company retired 2.1 million shares of treasury stock during fiscal year 2023, increasing Retained deficit by $4.2 billion[353] Lease Obligations - Total lease assets as of August 26, 2023, amounted to $3,417,344 thousand, an increase from $3,323,259 thousand as of August 27, 2022, reflecting a growth of approximately 2.83%[355] - Total lease liabilities as of August 26, 2023, were $3,461,920 thousand, up from $3,391,685 thousand as of August 27, 2022, indicating an increase of about 2.06%[355] - Operating lease costs for the year ended August 26, 2023, totaled $437,762 thousand, an increase from $401,000 thousand for the year ended August 27, 2022, representing a growth of approximately 9.1%[357]

AutoZone, Inc. (NYSE:AZO) Q4 2023 Earnings Conference Call September 18, 2023 10:00 AM ET Company Participants Bill Rhodes - Chairman, President and CEO, Customer Satisfaction Philip Daniele - CEO-Elect and EVP, Merchandising, Marketing and Supply Chain, Customer Satisfaction Jamere Jackson - CFO and EVP, Finance and Store Development, Customer Satisfaction Conference Call Participants Bret Jordan - Jefferies Simeon Gutman - Morgan Stanley Seth Sigman - Barclays Elizabeth Suzuki - Bank of America Merrill Ly ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended May 6, 2023, or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from _______ to ________. Commission file number 1-10714 AUTOZONE, INC. (Exact name of registrant as specified in its charter) Nevada 62-1482048 (State or other jurisdiction of ...

AutoZone, Inc. (NYSE:AZO) Q3 2023 Earnings Conference Call May 23, 2023 10:00 AM ET Company Participants Bill Rhodes - Chairman, President and CEO Jamere Jackson - EVP and CFO Brian Campbell - VP, Treasurer, IR and Tax Conference Call Participants Bret Jordan - Jefferies Christopher Horvers - JPMorgan Simeon Gutman - Morgan Stanley Zach Fadem - Wells Fargo Steven Forbes - Guggenheim Securities Scot Ciccarelli - Truist Securities Michael Lasser - UBS David Bellinger - ROTH MKM Greg Melich - Evercore ISI Stev ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended February 11, 2023, or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from _______ to ________. Commission file number 1-10714 AUTOZONE, INC. (Exact name of registrant as specified in its charter) Nevada 62-1482048 (State or other jurisdict ...

2nd Quarter Earnings Release, FY2023 AUTOZONE, INC., © 2022 ALL RIGHTS RESERVED. 11 Forward-Looking Statements Certain statements contained in this presentation constitute forward-looking statements that are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements typically use words such as “believe,” “anticipate,” “should,” “intend,” “plan,” “will,” “expect,” “estimate,” “project,” “positioned,” “strategy,” “seek,” “may,” “could” and similar ...

AutoZone, Inc. (NYSE:AZO) Q2 2023 Earnings Conference Call February 28, 2023 10:00 AM ET Company Participants Bill Rhodes - Chairman, President and CEO Jamere Jackson - Executive Vice President and CFO Brian Campbell - Vice President, Treasurer, Investor Relations and Tax Conference Call Participants Bret Jordan - Jefferies Seth Sigman - Barclays Zach Fadem - Wells Fargo Scot Ciccarelli - Truist Securities Brian Nagel - Oppenheimer Jackie Sussman - Morgan Stanley David Bellinger - Roth MKM Atul Maheswari - ...

AutoZone, Inc. (NYSE:AZO) Q1 2023 Results Conference Call December 6, 2022 10:00 AM ET Company Participants Brian Campbell - VP, IR and Tax/Treasurer Bill Rhodes - Chairman, President and CEO Jamere Jackson - EVP and CFO Conference Call Participants Brian Nagel - Oppenheimer Simeon Gutman - Morgan Stanley Kate McShane - Goldman Sachs Chris Horvers - JP Morgan Michael Lasser - UBS Daniel Imbro - Stephens David Bellinger - MKM Partners Mike Baker - D.A. Davidson Operator Good morning, ladies and gentlemen, an ...