AutoZone, Inc. (NYSE:AZO) Q4 2020 Earnings Conference Call - Final Transcript

Sep 22, 2020 • 10:00 am ET


AutoZone, Inc. (NYSE:AZO) Q4 2020 Earnings Conference Call - Final Transcript


Loading Event

Loading Transcript


Good morning and welcome to the AutoZone Conference Call. [Operator Instructions]

This conference call will discuss AutoZone's fourth quarter earnings release. Bill Rhodes, the Company's Chairman, President and CEO, will be making a short presentation on the highlights of the quarter. The conference call will end promptly at 10:00 AM Central Time, 11:00 AM Eastern Time.

Before Mr. Rhodes begins, the Company has requested that you listen to the following statement regarding 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, position, 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; war and the prospect of war, including terrorist activity; 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 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 cost of suppliers; disruption in our supply chain due to public health epidemics or otherwise, 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 Annual Report on Form 10-K for the year ended August 31, 2019, and these Risk Factors should be read carefully. Forward-looking statements are not guarantees of future performance, and actual results, developments and business results may differ from those contemplated by such forward-looking statements, and events described above and in the Risk Factors could materially adversely affect our business. 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. Actual results may materially differ from anticipated results.

I'd now like to turn the call over to Mr. Bill Rhodes.

William C. Rhodes

Good morning and thank you for joining us today for AutoZone's 2020 fourth quarter conference call.

With me today are Bill Giles, Executive Vice President and Chief Financial Officer; Brian Campbell, Vice President, Treasurer, Investor Relations and Tax; and Jamere Jackson, our Executive Vice President and Chief Financial Officer Elect. Jamere, who joined us just last week, will be observing only today, but we are so glad