AutoZone Authorizes Additional Stock Repurchase

AutoZone Authorizes Additional Stock Repurchase

Since the inception of the repurchase program in 1998, AutoZone’s board of directors has authorized $18.7 billion.

AutoZone Inc. has announced its board of directors authorized the repurchase of an additional $750 million 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 $18.7 billion.

“AutoZone’s continued strong financial performance allows us to repurchase our stock while maintaining our investment grade credit ratings,” said Bill Giles, chief financial officer and executive vice president of finance and information technology. “We remain committed to utilizing share repurchases within the bounds of a disciplined capital structure to enhance stockholder returns while maintaining adequate liquidity to execute our plans.”

You May Also Like

O’Reilly Reports Q4, Full-Year 2023 Financial Results

The company said it anticipates continued growth in 2024, with projections including 190 to 200 net new store openings.

financial results

O’Reilly Automotive, Inc. has reported record revenue and earnings for the fourth quarter and full-year ended December 31, 2023. This marks the 31st consecutive year of comparable store sales growth and record revenue and operating income for O’Reilly since becoming a public company in April 1993, the company said.

Valvoline, Inc. Reports Q1 Growth

Valvoline saw an increase in system-wide stores to 1,890, including 895 company-operated stores and 995 franchised stores in Q1.

Valvoline Instant Oil Change building
Eaton Reports Record Q4 2023 Results

Fourth-quarter sales reached $6 billion, an 11% increase from the previous year, driven by organic growth and a slight boost from foreign exchange.

PACCAR Achieves Record Annual Revenues, Net Income

PACCAR Parts reported a record annual pre-tax income of $1.7 billion and revenues of $6.41 billion.

Financial-results
Continental Unveils Strategy for Enhanced Value Creation

Continental is focusing on business areas with high growth potential, including making its UX business organizationally independent.

Conti-HQ

Other Posts

Report: CTOs Become Star Players in US Automotive C-Suite

The findings reveal that CTOs have jumped in annual compensation from $2 million in 2020 to $4.8 million in 2023.

AutoZone Completes Leadership Transition Plan

Phil Daniele (right), a 30-year veteran at AutoZone, has now assumed his role as president and CEO.

AutoZone-Daniele-Rhodes
Pep Boys to Lease Puerto Rico Retail Locations to AutoZone

This retail conversion allows both companies to strengthen their presence in Puerto Rico and provide a more complete automotive solution for drivers.

AMN Year in Review: Top 10 Personnel Stories of 2023

With the big four parts retailers announcing executive changes this year, we experienced our fair share of executive changes, new hires and promotions in the automotive aftermarket. So, which ones catapulted to our Top 10 list? Watch and find out!

Year in Review 2023 Personnel