AutoZone Authorizes Additional Stock Repurchase
June 19 2024 - 4:00PM
AutoZone, Inc. (NYSE: AZO), today, announced its Board of Directors
authorized the repurchase of an additional $1.5 billion of the
Company’s common stock in connection with its ongoing share
repurchase program. Since the inception of the repurchase program
in 1998, and including the above amount, AutoZone’s Board of
Directors has authorized $39.2 billion in share repurchases.
“AutoZone’s continuing ability to generate strong free cash flow
allows us to increase our cumulative share authorization while
maintaining our investment grade credit ratings,” said Jamere
Jackson, Chief Financial Officer. “We remain committed to our
disciplined capital allocation policy to drive growth while
maintaining adequate liquidity.”
About AutoZone:
As of May 4, 2024, the Company had 6,364 stores in the U.S., 763
in Mexico and 109 in Brazil for a total store count of 7,236.
AutoZone is the leading retailer and distributor of automotive
replacement parts and accessories in the Americas. Each store
carries an extensive product line for cars, sport utility vehicles,
vans and light duty trucks, including new and remanufactured
automotive hard parts, maintenance items, accessories, and
non-automotive products. The majority of stores have a commercial
sales program that provides prompt delivery of parts and other
products and commercial credit to local, regional and national
repair garages, dealers, service stations, fleet owners and other
accounts. AutoZone also sells automotive hard parts, maintenance
items, accessories and non-automotive products through
www.autozone.com, and our commercial customers can make purchases
through www.autozonepro.com. Additionally, we sell the ALLDATA
brand of automotive diagnostic, repair, collision and shop
management software through www.alldata.com. We also provide
product information on our Duralast branded products through
www.duralastparts.com. AutoZone does not derive revenue from
automotive repair or installation services.Contact
Information:
Financial: Brian Campbell,
901-495-7005, brian.campbell@autozone.com
Media: David McKinney,
901-495-7951, david.mckinney@autozone.com
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