Press release
O’Reilly Automotive, Inc. Reports Fourth Quarter and Full-Year 2022 Results
Fourth quarter comparable store sales growth of 9.0%, full-year increase of 6.4%10% increase in fourth quarter diluted earnings per share to $8.37, full-year
About this update from O'reilly Automotive, Inc.
[{"type":"text","content":"Fourth quarter comparable store sales growth of 9.0%, full-year increase of 6.4%10% increase in fourth quarter diluted earnings per share to $8.37, full-year increase of 8% to $33.44$3.15 billion net cash provided by operating activities in 2022 SPRINGFIELD, Mo., Feb. 08, 2023 (GLOBE NEWSWIRE) -- O’Reilly Automotive, Inc. (the “Company” or “O’Reilly”) (Nasdaq: ORLY), a leading retailer in the automotive aftermarket industry, today announced record revenue and earnings for its fourth quarter and full-year ended December 31, 2022. The results represent 30 consecutive years of comparable stores sales growth and record revenue and operating income for O’Reilly since becoming a public company in April of 1993. 4th Quarter Financial ResultsGreg Johnson, O’Reilly’s CEO, commented, “We are very pleased to once again report a strong quarter, highlighted by 9.0% growth in comparable store sales and a 10% increase in diluted earnings per share. Team O’Reilly once again exceeded our expectations and delivered robust top-line growth on top of a record-breaking 14.5% comp in the prior year, which resulted in an incredible three-year comparable store sales stack of 34.7% for the fourth quarter. Our consistently strong growth is the direct result of the hard work and dedication of our entire Team. We continually evaluate the compensation and benefits we provide to our Team Members to ensure we are attracting and developing the best professional parts people in the industry. In line with this commitment to our Team, we recognized a $28 million SG&A charge in the fourth quarter, resulting from our transition to an enhanced paid time-off program. We believe investing in Team O’Reilly will continue to drive our industry-leading customer service, while also creating tremendous opportunities for our Team Members to grow and share in our Company’s success. I would like to thank our over 85,000 Team Members for their ongoing dedication to our continued profitable growth and for their unrelenting focus on providing excellent customer service.” Sales for the fourth quarter ended December 31, 2022, increased $353 million, or 11%, to $3.64 billion from $3.29 billion for the same period one year ago. Gross profit for the fourth quarter increased 7% to $1.85 billion (or 50.9% of sales) from $1.73 billion (or 52.7% of sales) for the same period one year ago. ...