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AUTOZONE, INC., © 2026 ALL RIGHTS RESERVED 4th Quarter Earnings Release, FY2026
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AUTOZONE, INC., © 2026 ALL RIGHTS RESERVED 2 Forward-Looking Statements Certain statements herein constitute forward-looking statements that are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and typically use words such as “believe,” “anticipate,” “should,” “intend,” “plan,” “will,” “expect,” “estimate,” “project,” “positioned,” “strategy,” “seek,” “may,” “could” and similar expressions. These statements are based on assumptions and assessments made by our management in light of experience, historical trends, current conditions, expected future developments and other factors that we believe appropriate. These forward-looking statements are subject to a number of risks and uncertainties, including without limitation: product demand, due to changes in fuel prices, miles driven or otherwise; energy prices; weather, including extreme temperatures and natural disasters; competition; credit market conditions; cash flows; access to financing on favorable terms; 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; public health issues; inflation, including wage inflation; exchange rates; the ability to hire, train and retain qualified employees, including members of management; construction delays; failure or interruption of our information technology systems; issues relating to the confidentiality, integrity or availability of information, including due to cyber-attacks; historic growth rate sustainability; downgrade of our credit ratings; damage to our reputation; challenges associated with doing business in and expanding into international markets; origin and raw material costs of suppliers; inventory availability; disruption in our supply chain; tariffs, trade policies and other geopolitical factors; new accounting standards; our ability to execute our growth initiatives; and other business interruptions. These and other risks and uncertainties are discussed in more detail in the “Risk Factors” section in Item 1A under Part 1 of our Annual Report on Form 10-K for the year ended August 30, 2025. Forward-looking statements are not guarantees of future performance and actual results may differ materially from those contemplated by such forward - looking statements. Events described above and in the “Risk Factors” could materially and adversely affect our business. However, 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.
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AUTOZONE, INC., © 2026 ALL RIGHTS RESERVED 3
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AUTOZONE, INC., © 2026 ALL RIGHTS RESERVED 4 Fourth Quarter FY 2026 – GAAP 16 Weeks Ended 16 Weeks Ended in millions (excluding EPS and percentages) August 29, 2026 August 30, 2025 Better/(Worse) Net Sales 6,595$ 6,243$ 5.6% Gross Margin 53.3% 51.5% 182 bps (2) Operating Expense Ratio 33.4% 32.4% (101 bps) Operating Profit (EBIT) 1,317$ 1,196$ 10.1% (2) Operating (EBIT) Margin 20.0% 19.2% 81 bps (2) Interest 149$ 148$ (0.4%) Tax Rate 20.3% 20.1% (12 bps) Net Income 932$ 837$ 11.3% (2) Diluted Shares 16.6 17.2 3.3% Diluted EPS 56.05$ 48.71$ 15.1% (2) (1) Same Store Sales are based on sales for all stores open at least one year. Constant Currency same store sales exclude the impact of fluctuations of foreign currency exchange rates by converting both the current year and prior year international results at the prior year foreign currency exchange rate. Same store sales are computed on a 16-week basis. (2) Includes $15 million non-cash LIFO charge, pre-tax, for the 16 weeks ended August 29, 2026, and $80 million non-cash LIFO charge, pre- tax, for the 16 weeks ended August 30, 2025. Net Sales +5.6% Total Company SSS +1.5% (Constant Currency)(1) and International SSS +1.3% (Constant Currency)(1) Domestic SSS +1.6%(1) Diluted weighted average shares outstanding decreased 3.3% vs Q4 FY25 During Q4 FY26, we repurchased $697 million in AutoZone stock Financial Highlights
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AUTOZONE, INC., © 2026 ALL RIGHTS RESERVED 5 FY 2026 – GAAP 52 Weeks Ended 52 Weeks Ended in millions (excluding EPS and percentages) August 29, 2026 August 30, 2025 Better/(Worse) Net Sales 20,339$ 18,939$ 7.4% Gross Margin 52.3% 52.6% (29 bps) (2) Operating Expense Ratio 34.0% 33.6% (47 bps) Operating Profit (EBIT) 3,723$ 3,610$ 3.1% (2) Operating (EBIT) Margin 18.3% 19.1% (76 bps) (2) Interest 473$ 476$ 0.7% Tax Rate 20.9% 20.3% (56 bps) Net Income 2,573$ 2,498$ 3.0% (2) Diluted Shares 16.9 17.2 2.2% Diluted EPS 152.55$ 144.87$ 5.3% (2) (1) Same Store Sales are based on sales for all stores open at least one year. Constant Currency same store sales exclude the impact of fluctuations of foreign currency exchange rates by converting both the current year and prior year international results at the prior year foreign currency exchange rate. (2) Includes $192 million non-cash LIFO charge, pre-tax, for the 52-weeks ended August 29, 2026, and $64 million non-cash LIFO charge, pre-tax, for the 52-weeks ended August 30, 2025. Net Sales +7.4% Total Company SSS +3.2% (Constant Currency)(1) and International SSS +2.2% (Constant Currency) (1) Domestic SSS +3.3%(1) Diluted weighted average shares outstanding decreased 2.2% vs Q4 FY25 During FY26, we repurchased $2.0 billion in AutoZone stock Financial Highlights
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AUTOZONE, INC., © 2026 ALL RIGHTS RESERVED 6 Growth Priorities U.S. Retail (DIY) InternationalU.S. Commercial (DIFM)
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AUTOZONE, INC., © 2026 ALL RIGHTS RESERVED 7 New Store Highlights We expanded our global footprint by opening 175 new stores in the fourth quarter.
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AUTOZONE, INC., © 2026 ALL RIGHTS RESERVED 8 Domestic Commercial Highlights # of Commercial Programs Total Domestic Commercial Programs 6,443 % increase in programs vs. LY 5.7% 16 Weeks Ended 52 Weeks Ended August 29, 2026 August 29, 2026 Domes tic Commercial Sales $1,913.0 $5,762.4 ($ millions) % increas e in s ales 8.6% 10.6% 16 Weeks Ended Trailing 4 Qtrs August 30, 2026* August 30, 2026* Domestic Avg Wkly $/Program $18.7 $17.7 ($ thousands) % increas e 2.7% 6.0% *Two Point Average for Programs Open Commercial sales continued to grow, increasing 8.6% versus Q4 FY25. We have a Commercial Program in 94% of Domestic Stores at the end of Q4 FY26. Financial Highlights
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AUTOZONE, INC., © 2026 ALL RIGHTS RESERVED 9 Balance Sheet Highlights As of As of ($ in millions, except per store amounts are in thousands) August 29, 2026 August 30, 2025 Higher/(Lower) Inventory 7,736$ 7,026$ 10.1% Inventory/store 963$ 918$ 5.0% Inventory, net of payables (861)$ (1,000)$ (13.9%) Inventory, net of payables/store (107)$ (131)$ (17.9%) Inventory turns 1.3x 1.4x Working capital (1,000)$ (1,178)$ (15.1%) Property and equipment, net 8,056$ 7,063$ 14.1% Debt 9,078$ 8,800$ 3.2%
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AUTOZONE, INC., © 2026 ALL RIGHTS RESERVED 10 Building Shareholder Value Live the Pledge Consistent, steady EPS growth Powerful Free Cash Flow generation Disciplined Capital Allocation • Invest to optimize performance of existing assets • Drive growth • Excess cash returned to shareholders Accelerate growth in Domestic Commercial and DIY • Hubs & Mega-Hubs expansion • Improved assortment & coverage • “Best merchandise at the right price” • Leverage technology to improve the customer experience International expansion Relentless focus on execution
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AUTOZONE, INC., © 2026 ALL RIGHTS RESERVED