Summary
O'Reilly Automotive, Inc. (ORLY) reported its annual results for the fiscal year ended December 31, 2011. The company experienced a 7.2% increase in sales, reaching $5.79 billion, driven by a 4.6% comparable store sales growth and the opening of 170 new stores. This expansion brings the total store count to 3,740 across 39 states. The company's dual market strategy, serving both DIY and professional service providers, continues to be a key driver of growth, with professional service provider sales increasing as a percentage of the total sales mix. Profitability also saw a significant boost, with operating income up 22% to $867 million and net income increasing by 21% to $508 million. This improvement was attributed to favorable product mix, improved acquisition costs, better inventory management, and operating efficiencies, alongside a reduction in legacy legal charges compared to the previous year. The company also strengthened its financial position by refinancing its debt, issuing new senior notes, and repurchasing shares under a $1.5 billion program, demonstrating a commitment to shareholder value and operational strength in a competitive market.
Financial Highlights
47 data points| Revenue | $5.79B |
| Cost of Revenue | $2.95B |
| Gross Profit | $2.84B |
| SG&A Expenses | $1.97B |
| Operating Income | $866.77M |
| Interest Expense | $28.16M |
| Net Income | $507.67M |
| EPS (Basic) | $0.25 |
| EPS (Diluted) | $0.25 |
| Shares Outstanding (Basic) | 2.02B |
| Shares Outstanding (Diluted) | 2.05B |
Key Highlights
- 1Sales increased by 7.2% to $5.79 billion.
- 2Comparable store sales grew by 4.6%.
- 3Opened 170 net new stores, bringing the total to 3,740.
- 4Operating income increased by 22% to $867 million.
- 5Net income rose by 21% to $508 million.
- 6Company significantly expanded its share repurchase program to $1.5 billion.
- 7Refinanced debt, issuing $800 million in senior notes.