Early Access

10-KPeriod: FY2023

O REILLY AUTOMOTIVE INC Annual Report, Year Ended Dec 31, 2023

Filed February 28, 2024For Securities:ORLY

Summary

O'Reilly Automotive, Inc. (ORLY) demonstrated robust performance in its 2023 fiscal year, reporting a significant increase in sales and net income. The company's dual market strategy, serving both DIY and professional customers, continues to be a key driver of its success, with comparable store sales showing healthy growth. ORLY's strategic expansion through new store openings, alongside consistent comparable store sales growth, underscores its market leadership and ability to execute its growth plans. The company's strong financial position, supported by effective cost management and a solid distribution network, positions it well for continued success. Investors can find confidence in ORLY's long-standing history of revenue and earnings growth, driven by a customer-centric approach and operational efficiency.

Financial Highlights

47 data points
Beta

Revenue

$15.81B

0.5% Gross Margin

Net Income

$2.35B

0.1% Net Margin

EPS (Diluted)

$2.56

Total Assets

$13.87B

Cash & Equivalents

$279.13M

Free Cash Flow

$2.03B

Financial Statements
Beta
Revenue$15.81B
Cost of Revenue$7.71B
Gross Profit$8.10B
SG&A Expenses$4.92B
Operating Income$3.19B
Interest Expense$201.67M
Net Income$2.35B
EPS (Basic)$2.59
EPS (Diluted)$2.56
Shares Outstanding (Basic)907.13M
Shares Outstanding (Diluted)914.97M

Key Highlights

  • 1O'Reilly Automotive reported increased sales of $15.81 billion for the year ended December 31, 2023, a 10% rise from the previous year, driven by a 7.9% increase in comparable store sales.
  • 2Net income grew to $2.35 billion for the year, an increase from $2.17 billion in 2022, resulting in diluted earnings per share of $38.47, up from $33.44.
  • 3The company expanded its store footprint, opening 166 net new domestic stores and 20 new stores in Mexico, bringing the total store count to 6,157 domestic and 62 in Mexico.
  • 4O'Reilly plans to continue its aggressive expansion strategy by opening 190 to 200 net new stores in 2024.
  • 5The company's gross profit margin remained strong at 51.3% for 2023.
  • 6O'Reilly maintains a strong balance sheet and liquidity, with $3.03 billion in cash provided by operating activities and a consolidated leverage ratio well within covenant limits.
  • 7The company repurchased $3.15 billion of its common stock during the year, demonstrating a commitment to returning capital to shareholders.

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