Summary
O'Reilly Automotive, Inc. (ORLY) reported strong performance in its 2022 fiscal year, demonstrating resilience and continued growth within the automotive aftermarket sector. The company expanded its store footprint, opening 187 net new domestic stores and 17 new stores in Mexico, bringing the total to 5,971 locations. Sales saw an 8% increase year-over-year, driven by a 6.4% rise in comparable store sales, which benefited from increased average ticket values for both professional and DIY customers. Despite some inflationary pressures impacting SG&A expenses, O'Reilly managed to maintain its operating income margin. The company also continued its share repurchase program, demonstrating a commitment to returning value to shareholders. The report highlights the company's dual-market strategy, strong customer service, and efficient distribution network as key competitive advantages.
Financial Highlights
47 data points| Revenue | $14.41B |
| Cost of Revenue | $7.03B |
| Gross Profit | $7.38B |
| SG&A Expenses | $4.43B |
| Operating Income | $2.95B |
| Interest Expense | $157.72M |
| Net Income | $2.17B |
| EPS (Basic) | $2.25 |
| EPS (Diluted) | $2.23 |
| Shares Outstanding (Basic) | 965.58M |
| Shares Outstanding (Diluted) | 974.43M |
Key Highlights
- 1O'Reilly Automotive reported an 8% increase in sales for the year ended December 31, 2022, reaching $14.41 billion.
- 2Comparable store sales increased by 6.4%, indicating continued demand and market penetration.
- 3The company continued its aggressive store expansion, opening 187 net new domestic stores and 17 new stores in Mexico.
- 4Operating income saw a slight increase of 1% to $2.95 billion, with operating income as a percentage of sales at 20.5%.
- 5Selling, general, and administrative (SG&A) expenses increased by 8% but as a percentage of sales, they slightly decreased to 30.7% due to leverage from strong sales.
- 6Diluted earnings per share (EPS) increased by 8% to $33.44.
- 7O'Reilly actively repurchased shares, with $3.28 billion spent on repurchases during the year, and $1.7 billion remaining on its authorization at year-end.