AutoZone reported strong sales growth and profit margin increase in Q4 2024

From GlobeNewswire: 2024-09-24 06:55:00

AutoZone reported net sales of $6.2 billion for Q4 2024, a 9.0% increase from the previous year. Same store sales rose 0.7% for the quarter. Gross profit margin was 52.5%, operating expenses at 31.6%, operating profit up 6.1%, and net income reached $902.2 million. Diluted earnings per share increased to $51.58.

For the fiscal year ended August 31, 2024, AutoZone’s sales were $18.5 billion, gross profit was 53.1%, operating expenses were 32.6%, operating profit up 9.1%, and net income reached $2.7 billion. Diluted earnings per share increased to $149.55. The company repurchased 1.1 million shares of common stock during the fiscal year.

AutoZone opened 68 new stores in the U.S., 31 in Mexico, and 18 in Brazil in Q4 2024. For the full fiscal year, the company opened 213 net new stores, bringing the total count to 7,353 as of August 31, 2024. The company’s inventory increased by 6.8% driven by new store growth.

AutoZone’s commitment to strong performance resulted in total sales growth of 5.9% and 13.0% increase in diluted earnings per share for fiscal 2024. The company continues to focus on accelerating commercial sales domestically and growing its international businesses, while investing in customer service improvements. AutoZone remains dedicated to increasing earnings, cash flow, and shareholder value.



Read more at GlobeNewswire:: AutoZone 4th Quarter Total Company Same Store Sales