AutoZone, Inc. - AZO STOCK NEWS

AutoZone reported its Q4 and fiscal year 2024 results. Q4 net sales increased 9.0% to $6.2 billion, with adjusted sales up 2.6% excluding the additional week. Total company same store sales rose 1.3% on a constant currency basis. Q4 EPS increased 11.0% to $51.58. For fiscal 2024, sales grew 5.9% to $18.5 billion, and diluted EPS increased 13.0% to $149.55.

The company opened 117 new stores in Q4 and 213 net new stores for the fiscal year, bringing the total store count to 7,353. AutoZone repurchased 244,000 shares in Q4 for $710.6 million and 1.1 million shares for the fiscal year at $3.2 billion. Inventory increased 6.8% year-over-year, driven by new store growth.

AutoZone (NYSE: AZO), the leading automotive parts retailer in the Americas, has announced the release date for its fourth quarter fiscal 2024 earnings. The company will unveil its financial results on Tuesday, September 24, 2024, before the market opens. The earnings report will cover the quarter ended August 31, 2024.

Following the release, AutoZone will host a one-hour conference call at 10:00 a.m. ET on the same day to discuss the quarterly results. Investors can access the call via webcast on AutoZone's website or by dialing (888) 506-0062 with the passcode AUTOZONE. A replay of the call will be available until October 8, 2024, by dialing (877) 481-4010 with the replay passcode 51047.

AutoZone (NYSE: AZO) has announced the appointment of Kenneth Jaycox as Senior Vice President, Commercial, Customer Satisfaction. Jaycox joins AutoZone from United States Steel , where he served as Senior Vice President and Chief Commercial Officer. His previous experience includes leadership roles at Sysco and various positions in commercial sales, customer engagement, business strategy, procurement, marketing, and operations.

Jaycox will be a member of AutoZone's Executive Committee and report to Tom Newbern, Chief Operating Officer, Customer Satisfaction. Phil Daniele, President and CEO, Customer Satisfaction, expressed confidence in Jaycox's ability to serve customers and drive accelerated sales growth for the company.

AutoZone has announced that its Board of Directors has authorized an additional $1.5 billion for the company's ongoing share repurchase program. This increases the total authorized repurchases to $39.2 billion since the program started in 1998. CFO Jamere Jackson emphasized that the company’s strong free cash flow and investment grade credit ratings allow for this increase while maintaining financial discipline. The company is committed to a disciplined capital allocation policy to drive growth and maintain liquidity.

AutoZone (NYSE: AZO) held its annual Vendor Summit on June 5, 2024, in Memphis, Tennessee, recognizing 17 top suppliers for their outstanding performance and commitment to customer satisfaction. JK Fenner, a specialist in Mechanical Power Transmission products, earned the 2024 Vendor of the Year award for exceptional customer service and operational excellence. Other notable awards included the Extra Miler award for seven vendors like Baofeng and Valvoline, the Ray of Hope award to Great Neck Saw for community contributions, and the International Vendor of Excellence award to Reach Cooling for their international market insights. The WITTDTJR® award was given to seven vendors for product innovations and customer experience improvements.

AutoZone (NYSE: AZO) reported its Q3 fiscal 2024 earnings, showing net sales of $4.2 billion, up 3.5% from last year. While total company same store sales increased by 0.9%, domestic same store sales remained flat. International same store sales saw significant growth at 18.1% (constant currency basis). The gross profit margin rose to 53.5%, bolstered by higher merchandise margins and a 15 basis point non-cash LIFO favorability. Operating expenses increased to 32.2% of sales, primarily due to higher store payroll costs. Operating profit grew by 4.9% to $900.2 million, with a net income of $651.7 million and a 7.5% increase in diluted EPS to $36.69. AutoZone repurchased 242,000 shares for $734.7 million. The company opened 45 new stores, bringing the total count to 7,236.

AutoZone, Inc. (NYSE: AZO) will release its third quarter fiscal 2024 earnings on May 21, 2024. The leading retailer of automotive replacement parts in the Americas will host a conference call to discuss the results. Investors can access the call via webcast or telephone replay.

ALLDATA Europe expands repair data access for technicians in Europe by adding Abarth, Chrysler, and Tesla OEM repair information. The addition of these manufacturers brings the total number of vehicle manufacturers available on ALLDATA Repair to 36, covering 96% of vehicles on the road. Technicians can now easily access hybrid and EV repair data through an enhanced search feature, showcasing ALLDATA Europe's commitment to staying current with industry trends. With over 118,000 vehicle combinations, including TSBs, DTCs, and technical drawings, ALLDATA Repair aims to simplify and streamline the repair process for technicians.

AutoZone, Inc. (AZO) reported a 4.6% increase in net sales to $3.9 billion for Q2 of fiscal 2024. Gross profit rose to 53.9%, operating profit increased by 10.9%, and net income grew by 8.1%. Diluted earnings per share surged by 17.2%. The company repurchased shares worth $223.8 million. AutoZone opened 19 new stores in the U.S. and expanded internationally with double-digit growth. The inventory increased by 4.2%. President and CEO Phil Daniele expressed confidence in the company's sales initiatives and future growth prospects.