Summary
O'Reilly Automotive, Inc. (ORLY) reported a strong first quarter for 2021, with significant year-over-year growth across key financial metrics. Net sales surged by 25% to $3.09 billion, driven by a robust 24.8% increase in comparable store sales. This top-line growth translated into a substantial improvement in profitability, with net income rising 67% to $501.6 million, or $7.06 per diluted share. The company's financial health remains solid, evidenced by a significant increase in operating cash flow to $890.7 million. Management attributes the strong performance to factors including government stimulus, the reopening of markets, favorable industry dynamics like consumers investing in existing vehicles, and the company's effective "dual market strategy" serving both DIY and professional customers. O'Reilly continues to execute its growth strategy through new store openings and a substantial share repurchase program, demonstrating confidence in its business outlook.
Financial Highlights
47 data points| Revenue | $3.09B |
| Cost of Revenue | $1.45B |
| Gross Profit | $1.64B |
| SG&A Expenses | $949.69M |
| Operating Income | $691.11M |
| Interest Expense | $37.51M |
| Net Income | $501.61M |
| EPS (Basic) | $0.48 |
| EPS (Diluted) | $0.47 |
| Shares Outstanding (Basic) | 1.06B |
| Shares Outstanding (Diluted) | 1.07B |
Key Highlights
- 1Net sales increased by 25% year-over-year to $3.09 billion.
- 2Comparable store sales grew by an impressive 24.8%.
- 3Net income rose by 67% to $501.6 million, with diluted EPS reaching $7.06.
- 4Operating cash flow significantly increased to $890.7 million.
- 5Gross profit margin improved to 53.1% from 52.3% in the prior year.
- 6The company opened 66 net new U.S. stores in the quarter.
- 7Share repurchases totaled $664.5 million during the quarter.