AutoZone, Inc. (AZO) Q4 2022 Earnings Call Transcript

AutoZone, Inc. (NYSE:AZO) Q4 2022 Results Conference Call September 19, 2022 10:00 AM ET

Company Participants

Bill Rhodes - Chairman, President and Chief Executive Officer

Jamere Jackson - Executive Vice President and Chief Financial Officer

Brian Campbell - Vice President, Treasurer, Investor Relations and Tax

Conference Call Participants

Bret Jordan - Jefferies

Steven Zaccone - Citi

Simeon Gutman - Morgan Stanley

Michael Lasser - UBS

Scott Catarelli - Truist Securities

Kate McShane - Goldman Sachs

Daniel Imbro - Stephens Inc

Greg Melich - Evercore

Operator

Good morning, ladies and gentlemen, and welcome to AutoZone's 2022 Fourth Quarter Earnings Release Call. At this time, all participants have been placed on listen-only mode and floor will be opened for questions and comments after the presentation. Before we begin, the Company would like to read some forward-looking statements.

Apologies, just two seconds.

Brian Campbell

Before we begin, please note that today's call includes forward-looking statements that are subject to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not guarantees of future performance. Please refer to this morning's press release and the Company's most recent annual report on Form 10-K and other filings with the Securities and Exchange Commission for a discussion of important risks and uncertainties that could cause actual results to differ materially from expectations. Forward-looking statements speak only as of the date made, and the Company undertakes no obligation to update such statements. Today's call will also include certain non-GAAP measures. A reconciliation of non-GAAP to GAAP financial measures can be found in our press release.

Operator

It is now my pleasure to hand the floor over to Mr. Bill Rhodes, Chairman, President and CEO of AutoZone. Bill, over to you.

Bill Rhodes

Good morning and thank you for joining us today for AutoZone's 2022 fourth quarter conference call. With me today are Jamere Jackson, Executive Vice President and Chief Financial Officer; and Brian Campbell, Vice President, Treasurer, Investor Relations and Tax.

Regarding the fourth quarter, I hope you've had an opportunity to read our press release and learn about the quarter's results. If not the press release, along with slides complementing our comments today, are available on our website, www.autozone.com under the Investor Relations link. Please click on quarterly earnings conference calls to see them.

As we begin, we want to recognize our AutoZoners for their tremendous success this past year. They far exceeded our expectations from the beginning of the year and in a very challenging environment as our pledge states put our customers first, resulting in additional share gains and terrific sales performance on top of fantastic results in FY '21. We grew our overall sales of 11.1% on top of 15.8% growth last year, resulting in a two-year growth that is among the highest we've ever experienced.