Summary
O'Reilly Automotive, Inc. (ORLY) reported strong first-quarter 2005 results, continuing its streak of record revenues and earnings for the 46th consecutive quarter since its IPO in 1993. The company announced a 15.6% increase in product sales to $466.2 million and a 21.7% rise in net income to $33.2 million. Diluted earnings per share (EPS) grew by 20.4% to $0.59, demonstrating solid bottom-line performance. Key drivers of this growth include a 7.1% increase in comparable store product sales, a notable achievement given the strong comparison to the prior year's 12.4% growth. The company also reported effective expense management, with Operating, Selling, General, and Administrative (OSG&A) expenses as a percentage of sales decreasing slightly. O'Reilly continued its aggressive expansion, opening 37 net new stores during the quarter, bringing the total store count to 1,286, and began operations at its eleventh distribution center, signaling ongoing strategic investment for future growth.
Key Highlights
- 1Record first quarter revenues and earnings, marking the 46th consecutive quarter of such performance.
- 2Product sales increased by 15.6% to $466.2 million compared to the prior year's first quarter.
- 3Net income rose by 21.7% to $33.2 million.
- 4Diluted earnings per share (EPS) grew by 20.4% to $0.59.
- 5Comparable store product sales increased by 7.1%, demonstrating continued sales momentum.
- 6The company opened 37 net new stores in the quarter, expanding its retail footprint to 1,286 locations.
- 7Successfully opened its eleventh distribution center in Atlanta, Georgia, supporting expansion.