Press release
O’Reilly Automotive, Inc. Reports Fourth Quarter and Full-Year 2019 Results and Announces Additional $1.0 Billion Share Repurchase Authorization
Fourth quarter comparable store sales increase of 4.4%, full-year increase of 4.0%14% increase in fourth quarter diluted earnings per share to $4.25,
About this update from O'reilly Automotive, Inc.
[{"type":"text","content":"Fourth quarter comparable store sales increase of 4.4%, full-year increase of 4.0%14% increase in fourth quarter diluted earnings per share to $4.25, full-year 11% increase to $17.88 SPRINGFIELD, Mo., Feb. 05, 2020 (GLOBE NEWSWIRE) -- O’Reilly Automotive, Inc. (the “Company” or “O’Reilly”) (Nasdaq: ORLY), a leading retailer in the automotive aftermarket industry, today announced record revenues and earnings for its fourth quarter ended December 31, 2019. The results represent 27 consecutive years of comparable store sales growth and record revenue and operating income for O’Reilly since becoming a public company in April of 1993.\n 4th Quarter Financial ResultsO’Reilly’s CEO and Co-President, Greg Johnson, commented, “We are pleased to once again report another profitable quarter, highlighted by a 4.4% increase in comparable store sales and a 14.2% increase in diluted earnings per share. While our comparable store sales results for the fourth quarter were in the top half of our expected range, we continued to see ongoing inflationary pressures in our expense structure, and primarily due to an unexpected surge in health benefit costs, our operating profit for the fourth quarter did not meet our expectations.” Sales for the fourth quarter ended December 31, 2019, increased $168 million, or 7%, to $2.48 billion from $2.31 billion for the same period one year ago. Gross profit for the fourth quarter increased 7% to $1.32 billion (or 53.3% of sales) from $1.23 billion (or 53.3% of sales) for the same period one year ago. Selling, general and administrative expenses (“SG&A”) for the fourth quarter increased 10% to $883 million (or 35.6% of sales) from $806 million (or 34.8% of sales) for the same period one year ago. Operating income for the fourth quarter increased 3% to $442 million (or 17.8% of sales) from $428 million (or 18.5% of sales) for the same period one year ago. Net income for the fourth quarter ended December 31, 2019, increased $25 million to $325 million (or 13.1% of sales) from $300 million (or 13.0% of sales) for the same period one year ago. Diluted earnings per common share for the fourth quarter increased 14% to $4.25 on 76 million shares versus $3.72 on 81 million shares for the same period one year ago. Full-Year Financial ResultsMr. Johnson continued, “Team O’Reilly’s commitment to providing the highest level o...