Fourth Quarter Earnings Release, FY2021

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Forward-Looking Statements

Certain statements contained in this presentation constitute forward-looking statements that are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements typically use words such as "believe," "anticipate," "should," "intend," "plan," "will," "expect," "estimate," "project," "positioned," "strategy," "seek," "may," "could" and similar expressions. These are based on assumptions and assessments made by our management in light of experience and perception of historical trends, current conditions, expected future developments and other factors that we believe to be appropriate. These forward-looking statements are subject to a number of risks and uncertainties, including without limitation: product demand; energy prices; weather; competition; credit market conditions; cash flows; access to available and feasible financing; future stock repurchases; the impact of recessionary conditions; consumer debt levels; changes in laws or regulations; risks associated with self-insurance; war and the prospect of war, including terrorist activity; the impact of public health issues, such as the ongoing global coronavirus pandemic; inflation; the ability to hire, train and retain qualified employees; construction delays; the compromising of confidentiality, availability or integrity of information, including cyber-attacks; historic growth rate sustainability; downgrade of our credit ratings; damages to our reputation; challenges in international markets; failure or interruption of our information technology systems; origin and raw material costs of suppliers; disruption in our supply chain; impact of tariffs; anticipated impact of new accounting standards; and business interruptions. Certain of these risks and uncertainties are discussed in more detail in the "Risk Factors" section contained in Item 1A under Part 1 of the Company's Annual Report on Form 10 K for the year ended August 29, 2020, and these Risk Factors should be read carefully. Forward-looking statements are not guarantees of future performance and actual results, developments and business decisions may differ from those contemplated by such forward-looking statements, and events described above and in the "Risk Factors" could materially and adversely affect our business. However, it should be understood that it is not possible to identify or predict all such risks and other factors that could affect these forward-looking statements. Forward-looking statements speak only as of the date made. Except as required by applicable law, we undertake no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

AUTOZONE, INC., © 2021 ALL RIGHTS RESERVED.

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Fourth Quarter Fiscal 2021 Conference Call

September 21, 2021

AUTOZONE, INC., © 2021 ALL RIGHTS RESERVED.

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AUTOZONE, INC., © 2021 ALL RIGHTS RESERVED.

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Fourth Quarter FY 2021 P&L - GAAP

16 Weeks Ended

16 Weeks Ended

in millions (excluding EPS and percentages)

8/28/2021

8/29/2020

B/(W)

Net Sales

$

4,913

$

4,546

8.1%

Gross Margin

52.3%

53.1%

(82 bps)

Operating Expense Ratio

31.0%

30.7%

(33 bps)

Operating Profit (EBIT)

$

1,044

$

1,018

2.6%

Operating (EBIT) Margin

21.3%

22.4%

(114 bps)

Interest

$

58.1

$

65.6

11.4%

Tax Rate

20.3%

22.3%

195 bps

Net Income

$

786

$

740

6.1%

Diluted Shares

22.0

23.9

8.1%

Diluted EPS

$

35.72

$

30.93

15.5%

AUTOZONE, INC., © 2021 ALL RIGHTS RESERVED.

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AutoZone Inc. published this content on 21 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 September 2021 16:01:09 UTC.