Welcome to our dedicated page for O'Reilly Automotive news (Ticker: ORLY), a resource for investors and traders seeking the latest updates and insights on O'Reilly Automotive stock.
O'Reilly Automotive, Inc. (symbol: ORLY) is a prominent retail chain specializing in aftermarket automotive parts. Founded by C.F. and Chub O'Reilly on December 2, 1957, the company started with just one store in Springfield, Missouri, and has since expanded to operate over 6,000 stores across the United States and Mexico.
With a commitment to exceptional customer service and extensive auto parts availability, O'Reilly serves both the do-it-yourself market (55% of sales) and professional installers (45% of sales). The company's robust hub-and-spoke distribution network ensures that each store maintains a comprehensive inventory to meet varied customer needs effectively.
Over the years, O'Reilly has experienced significant financial growth. Starting with first-year sales of $700,000, the company reached $1.3 million by 1961. Today, O'Reilly generates nearly $16 billion in annual sales, reflecting its strong market presence and operational excellence.
O'Reilly's long-term success is bolstered by its dedicated team of over 68,000 members, who contribute to its ongoing expansion and innovation. The company also invests in strategic partnerships, such as its collaboration with Vast-Auto Distribution, to enhance its service offerings and supply chain efficiency.
Despite operating in a fragmented industry, O'Reilly distinguishes itself through superior customer support throughout the vehicle diagnosis and purchasing process. Its localized store network ensures that customers can access the right parts for various vehicle makes and models promptly, cementing O'Reilly's reputation as a leader in the automotive aftermarket industry.
O'Reilly Automotive (ORLY) reported Q3 2024 results with revenue increasing 4% to $4.36 billion and comparable store sales growth of 1.5%. Net income rose 2% to $665 million, with diluted EPS up 6% to $11.41. The company updated its full-year 2024 guidance, tightening comparable store sales expectations to 2.0-3.0% from previous 2.0-4.0%. Gross profit increased 4% to $2.25 billion, while operating income remained flat at $897 million. During Q3, the company repurchased 0.5 million shares for $541 million and operated 6,291 stores across U.S., Puerto Rico, Mexico, and Canada.
O'Reilly Automotive, a leading retailer in the automotive aftermarket industry, announced the release date for its third quarter 2024 financial results. The results will be available on Wednesday, October 23, 2024, after 3:30 p.m. Central Time, on the company's website. A conference call to discuss these results will be held on Thursday, October 24, 2024, at 10:00 a.m. Central Time. The call is accessible via webcast on the company's website, and a replay will be available until October 23, 2025. O'Reilly operates 6,244 stores across the U.S., Puerto Rico, Mexico, and Canada as of June 30, 2024.
O'Reilly Automotive (ORLY) reported its Q2 2024 results, showing revenue growth of 5% to $4.27 billion and a comparable store sales increase of 2.3%. The company's diluted EPS rose 3% to $10.55. For the first half of 2024, sales increased 6% to $8.25 billion, with diluted EPS up 7% to $19.75. O'Reilly opened 64 new stores in the U.S. and Mexico during this period.
Due to a challenging demand environment, O'Reilly updated its full-year 2024 guidance, lowering the comparable store sales forecast to 2.0-4.0% from 3.0-5.0%. The company maintains its target of 190-200 net new store openings for the year. O'Reilly also continued its share repurchase program, buying back 0.8 million shares for $794 million in Q2.
O'Reilly Automotive, a leading automotive aftermarket retailer, will release its Q2 2024 earnings on July 24, 2024, after 3:30 p.m. Central Time. The company will host a follow-up conference call on July 25, 2024, at 10:00 a.m. Central Time. Investors can access the results and the webcast through the company's website. A replay of the call will be available until July 24, 2025. O'Reilly Automotive, founded in 1957, operates 6,217 stores across the U.S., Puerto Rico, Mexico, and Canada, catering to DIY customers and professional service providers.
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