AI English summary of an SEC filing — figures as filed
AutoZone AZOAutoZone said net sales for fiscal 2024, the 53-week year, rose to $18.5 billion, up 5.9% from the prior year. Operating profit grew 9.1% to $3.8 billion, and net income increased 5.3% to $2.7 billion.
Key points
AI summaryAutoZone said net sales for fiscal 2024, the 53-week year, rose to $18.5 billion, up 5.9% from the prior year. Operating profit grew 9.1% to $3.8 billion, and net income increased 5.3% to $2.7 billion.
The company cited the additional 53rd week of sales of $365.9 million, net sales of $292.4 million from new stores and a 1.4% increase in total company same store sales on a constant currency basis as drivers of higher net sales. Diluted earnings per share rose 13.0%, from $132.36 to $149.55.
Gross profit was $9.8 billion, or 53.1% of net sales, compared with 52.0% in the prior year, AutoZone said. It said the gross margin increase included a 47 basis points benefit ($84.0 million net) from non-cash LIFO favorability. Interest expense, net, was $451.6 million, up from $306.4 million a year earlier.
AutoZone said net cash provided by operating activities was $3.0 billion in fiscal 2024, capital expenditures were $1.1 billion, and share repurchases totaled $3.2 billion (1.1 million shares). As of August 31, 2024, the remaining authorization under the Board's repurchase program was $2.2 billion.
Key figures
Fiscal year ended August 31, 2024
- Revenue
- $18.5B
- Operating income
- $3.8B
- Net income
- $2.7B
- EPS
- $149.55
- Gross profit
- $9.8B
- Operating cash flow
- $3.0B
From the XBRL financial data filed with the SEC · not processed by AI.
Summary
AI-writtenAnalysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.
Annual sales, operating profit and net income rise
AutoZone said net sales for fiscal 2024, the 53-week year, rose to $18.5 billion, up 5.9% from the prior year. Operating profit grew 9.1% to $3.8 billion, and net income increased 5.3% to $2.7 billion.
Source · Based on the MD&A text of the filing
Sales growth drivers and diluted EPS
The company cited the additional 53rd week of sales of $365.9 million, net sales of $292.4 million from new stores and a 1.4% increase in total company same store sales on a constant currency basis as drivers of higher net sales. Diluted earnings per share rose 13.0%, from $132.36 to $149.55.
Source · Based on the MD&A text of the filing
Gross margin and interest expense changes
Gross profit was $9.8 billion, or 53.1% of net sales, compared with 52.0% in the prior year, AutoZone said. It said the gross margin increase included a 47 basis points benefit ($84.0 million net) from non-cash LIFO favorability. Interest expense, net, was $451.6 million, up from $306.4 million a year earlier.
Source · Based on the MD&A text of the filing
Cash flow, share buybacks and capital spending
AutoZone said net cash provided by operating activities was $3.0 billion in fiscal 2024, capital expenditures were $1.1 billion, and share repurchases totaled $3.2 billion (1.1 million shares). As of August 31, 2024, the remaining authorization under the Board's repurchase program was $2.2 billion.
Source · Based on the MD&A text of the filing
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
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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