Summary
O'Reilly Automotive, Inc. (ORLY) reported solid financial results for the third quarter and the first nine months of 2021, demonstrating continued growth and resilience. Sales increased by 8% in the third quarter and 14% year-to-date, driven by a combination of comparable store sales growth and the addition of new locations. Net income saw a healthy increase of 6% for the quarter and 21% for the nine-month period, reflecting effective cost management and strong revenue generation. The company's strategic focus on its dual market strategy (serving both "do-it-yourself" and professional service provider customers) continues to pay off, supported by an aging vehicle fleet that requires more maintenance. Furthermore, ORLY's robust share repurchase program underscores its commitment to returning value to shareholders, with significant repurchases made during the period. The company maintains a strong liquidity position and is well-positioned to fund future growth initiatives.
Financial Highlights
46 data points| Revenue | $3.48B |
| Cost of Revenue | $1.66B |
| Gross Profit | $1.82B |
| SG&A Expenses | $1.06B |
| Operating Income | $754.60M |
| Interest Expense | $34.87M |
| Net Income | $558.65M |
| EPS (Basic) | $0.54 |
| EPS (Diluted) | $0.54 |
| Shares Outstanding (Basic) | 1.03B |
| Shares Outstanding (Diluted) | 1.04B |
Key Highlights
- 1Sales increased by 8% to $3.48 billion for the third quarter and 14% to $10.04 billion for the first nine months of 2021.
- 2Net income rose by 6% to $559 million for the third quarter and 21% to $1.65 billion for the first nine months of 2021.
- 3Diluted earnings per share (EPS) increased by 14% to $8.07 for the third quarter and 29% to $23.45 for the first nine months of 2021.
- 4The company repurchased approximately $2.01 billion of its common stock during the first nine months of 2021, demonstrating a strong commitment to shareholder returns.
- 5O'Reilly operated 5,740 stores in 47 U.S. states and 22 stores in Mexico as of September 30, 2021, with plans for continued net new store growth.
- 6The average age of vehicles on the road continues to increase, which is a positive indicator for the demand for automotive aftermarket products and services.
- 7The company maintains a strong liquidity position with approximately $449.3 million in cash and cash equivalents and an undrawn revolving credit facility.