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 strong first quarter results for 2023, marked by a 10.8% growth in comparable store sales and a 15% increase in diluted earnings per share to $8.28. Revenue rose 12% to $3.71 billion, while net income was up 7% to $517 million. Gross profit increased 11% to $1.89 billion, though as a percentage of sales, it slightly declined from 51.8% to 51.0%. O'Reilly opened its 6,000th store and expanded into Puerto Rico, with plans for a new distribution center in Guadalajara, Mexico. The company repurchased 1.4 million shares at an average price of $819.06, totaling $1.11 billion. For the full year, O'Reilly forecasts total revenue between $15.2 billion and $15.5 billion.
O'Reilly Automotive (Nasdaq: ORLY) has announced its first quarter 2023 earnings release scheduled for April 26, 2023, at 3:30 p.m. Central Time. A subsequent conference call for investors will take place on April 27, 2023, at 10:00 a.m. Central Time to discuss the results.
The earnings can be accessed on the company’s website at www.OReillyAuto.com under the Investor Relations section. Analysts can join the call by dialing (888) 506-0062 with the identification number 533312. A recorded version will be available until April 26, 2024.
O’Reilly Automotive (ORLY) reported a 9.0% increase in fourth quarter comparable store sales and a 10% growth in diluted earnings per share to $8.37. For the full year, comparable store sales grew 6.4%, with diluted earnings per share rising 8% to $33.44. The company's revenue surged by 11% in Q4 to $3.64 billion and for the year, total revenue reached $14.41 billion. However, gross profit margins fell to 50.9% from 52.7% a year ago. The company announced guidance for 2023, anticipating revenue between $15.2 billion and $15.5 billion and diluted earnings per share between $35.75 and $36.25.
O'Reilly Automotive has announced the promotions of Brad Beckham and Brent Kirby to Co-Presidents, effective January 9, 2023. Beckham, previously Executive Vice President and COO, will oversee store operations, sales, and human resources. Kirby, who served as Executive Vice President and Chief Supply Chain Officer, will handle merchandising, logistics, and customer satisfaction. CEO Greg Johnson retains his title and expressed confidence in their leadership capabilities. This internal promotion strategy is central to O'Reilly's culture and aims to support long-term success in the automotive aftermarket sector.
O'Reilly Automotive (ORLY) announced its fourth quarter and full-year 2022 earnings release on February 8, 2023, after 3:30 p.m. Central Time, followed by a conference call on February 9, 2023, at 10:00 a.m. Central Time. The results will be available on the company’s website. O'Reilly, one of the largest retailers in the automotive aftermarket industry, operates 5,910 stores across 47 U.S. states and 28 stores in Mexico, serving both DIY and professional markets.
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