AutoZone reported Q1 FY2025 revenue of $4.2796 billion, up 2.1% year over year on a total sales basis, aided by stronger international performance but pressured by foreign exchange headwinds. Management highlighted that the first quarter would be similar to the prior quarter with muted domestic DIY comps and FX-driven pressure on reported results. Domestic DIY was down 0.4%, while domestic commercial grew 3.2% and, on a two-year basis, commercial was up 9%. International sales grew strongly in local currencies (about 14% in constant currency), but reported results were damped by roughly 1,300 basis points of FX headwind. The company indicated ongoing investment in store formats (hub and mega-hub expansion), inventory proximity to customers, and IT/capex as levers to drive future growth. Management signaled modest sequential improvements in DIY and commercial trends in Q2 as easier year-over-year comparisons appear, with a broader long-term plan to invest over $1 billion in capital expenditures to accelerate growth. Free cash flow remained robust at $565 million for the quarter, supporting a continued buyback program (about $505 million repurchased in the quarter) and a remaining authorization of $1.7 billion. The earnings call underscored a disciplined approach to capital allocation, a focus on WOW! Customer Service, and confidence in gaining market share across DIY, commercial, and international channels.