AutoZone said net sales for the twelve weeks ended February 10, 2024 rose to $3.9 billion, up 4.6% from the prior year. Operating profit increased 10.9% to $743.2 million, and diluted earnings per share rose 17.2% to $28.89.

1. 01

   AutoZone said net sales for the twelve weeks ended February 10, 2024 rose to $3.9 billion, up 4.6% from the prior year. Operating profit increased 10.9% to $743.2 million, and diluted earnings per share rose 17.2% to $28.89.

2. 02

   The company said its gross margin for the twelve weeks rose from 52.3% to 53.9%, with 63 basis points ($24.0 million net) of the increase coming from non-cash LIFO favorability. It said net interest expense was $65.6 million compared with $102.6 million.

3. 03

   The company said operating cash flow for the 24-week period was $1.3 billion (compared with $1.1 billion in the prior-year period), and capital expenditures were $490.8 million (compared with $259.2 million in the prior-year period).

4. 04

   The company said it repurchased 663.4 thousand shares at $1.7 billion during the 24-week period. It added that on December 20, 2023, its board approved an additional $2.0 billion repurchase, leaving $2.1 billion remaining under the authorization as of February 10, 2024.

Key figures

Quarter ended February 10, 2024

Revenue

$3.9B

Operating income

$743M

Net income

$515M

EPS

$28.89

Gross profit

$2.1B

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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