Press release
O’Reilly Automotive, Inc. Reports Second Quarter 2022 Results
Second quarter comparable store sales growth of 4.3%, three-year stack increase of 30.4%25% three-year compound growth in second quarter diluted earnings per
About this update from O'reilly Automotive, Inc.
[{"type":"text","content":"Second quarter comparable store sales growth of 4.3%, three-year stack increase of 30.4%25% three-year compound growth in second quarter diluted earnings per share$1.4 billion net cash provided by operating activities year-to-date SPRINGFIELD, Mo., July 27, 2022 (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 for its second quarter ended June 30, 2022. 2nd Quarter Financial ResultsGreg Johnson, O’Reilly’s President and CEO, commented, “Our second quarter comparable store sales increase of 4.3%, and the corresponding three-year comparable store sales stack increase of 30.4%, are clear indicators of our Team’s ability to grow our business and take market share. After experiencing volatility in our sales results in the first quarter, the trends in our business improved and were steady throughout the second quarter.” Mr. Johnson continued, “We continue to be very pleased with the strong growth in our professional business, which performed in line with our expectations for the second quarter, while our DIY business faced more pronounced pressure from the impact of high fuel prices and continued significant broad-based inflation. Even facing these macroeconomic challenges, we are pleased with the strong sales volumes our Team is generating in 2022, against comparisons to record comparable store sales results the last two years. We are extremely proud of Team O’Reilly’s ability to deliver continued growth on top of the strongest years in our Company’s history, and I am grateful for the unrelenting focus each of our Team Members places on taking care of our customers.” Sales for the second quarter ended June 30, 2022, increased $205 million, or 6%, to $3.67 billion from $3.47 billion for the same period one year ago. Gross profit for the second quarter increased 3% to $1.88 billion (or 51.3% of sales) from $1.83 billion (or 52.7% of sales) for the same period one year ago. Selling, general and administrative expenses (“SG&A”) for the second quarter increased 5% to $1.09 billion (or 29.6% of sales) from $1.03 billion (or 29.7% of sales) for the same period one year ago. Operating income for the second quarter increased to $799 million (or 21.8% of sales) from $796 million (or 23.0% of sales) for the same p...