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Aug 26, 2023
Autozone Q4 2023 Earnings Report
AutoZone reported a net sales increase of 6.4% and EPS increase of 14.7% for the fourth quarter of fiscal year 2023.
Key Takeaways
AutoZone reported a solid fourth quarter with a 6.4% increase in net sales, reaching $5.7 billion. Diluted earnings per share increased by 14.7% to $46.46. The company opened 96 net new stores during the quarter and repurchased 403 thousand shares of its common stock.
Net sales for the fourth quarter increased by 6.4% to $5.7 billion.
Diluted earnings per share increased by 14.7% to $46.46.
The company opened 96 net new stores during the quarter.
AutoZone repurchased 403 thousand shares of its common stock for $1.0 billion.
Autozone
Autozone
Forward Guidance
AutoZone is focused on driving stronger growth in fiscal 2024 through initiatives in domestic Commercial and continued expansion in International markets.
Positive Outlook
- Initiatives in place to drive stronger growth in fiscal 2024.
- Pleased with International stores’ performance.
- Excited about future growth prospects across both Mexico and Brazil.
- Committed to prudently investing capital in the business.
- Steadfast in long-term, disciplined approach to increasing operating earnings and cash flows.
Challenges Ahead
- Lower than expected growth in domestic Commercial during the quarter.
- Subject to risks and uncertainties including product demand changes due to fuel prices.
- Energy prices and weather conditions could impact results.
- Competition and credit market conditions pose challenges.
- Inflation, including wage inflation, could affect profitability.