O'Reilly Automotive, Inc. Reports Fourth Quarter and Full-Year 2024 Results; Fourth quarter comparable store sales growth of 4.4%, full-year increase of 2.9%; $3.0 billion net cash provided by operating activities in 2024

About this update from O'reilly Automotive, Inc.

SPRINGFIELD, Mo- 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 fourth quarter and full-year ended December 31, 2024 . The results represent 32 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. 4th Quarter Financial Results Brad Beckham , O'Reilly's CEO, commented, 'We are pleased to report a strong finish to 2024 in the fourth quarter, highlighted by 4.4% growth in comparable store sales, driven by solid growth in both professional and DIY. Our Team is relentlessly focused on executing our industry-leading model at a high level, which we believe continues to generate market share gains on both sides of our business. I would like to take this opportunity to commend Team O'Reilly on their performance in the fourth quarter and thank each of you for your hard work and continued commitment to providing excellent customer service.' Sales for the fourth quarter ended December 31, 2024 , increased $264 million , or 7%, to $4.10 billion from $3.83 billion for the same period one year ago. Gross profit for the fourth quarter increased 7% to $2.10 billion (or 51.3% of sales) from $1.97 billion (or 51.3% of sales) for the same period one year ago. Selling, general and administrative expenses ('SG&A') for the fourth quarter increased 9% to $1.36 billion (or 33.3% of sales) from $1.25 billion (or 32.6% of sales) for the same period one year ago. Operating income for the fourth quarter increased 3% to $739 million (or 18.0% of sales) from $719 million (or 18.8% of sales) for the same period one year ago. SG&A expenses for the fourth quarter included a charge of $35 million to adjust reserves relating to our self-insurance liabilities for historic auto liability claims. The adjustment relates to claims that occurred prior to 2024 and reflects adverse claim development experience and revised assumptions used to estimate future liabilities for these claim years. Net income for the fourth quarter ended December 31, 2024 , decreased $1 million to $551 million (or 13.5% of sales) from $553 million (or 14.4% of sales) for the same period one year ago. Diluted earnings per common share for the fourth quarter increased 3% to $9.50 on 58 million shares versus $9.26 on 60 million shares for the same period one year ago. The self-insurance reserve adjustment, net of tax, impacted fourth quarter net income and diluted earnings per share by $27 million and $0.46 , respectively. Full-Year Financial Results Mr. Beckham continued, 'Our strong performance in the fourth quarter lifted our full-year comparable store sales growth to 2.9%, at the high end of our revised guidance range of 2% to 3%. While our 2024 results were below our expectations entering the year, we are pleased with our Team's ability to deliver solid comparable store sales growth despite tough market conditions. 2024 represents our 32nd consecutive year of annual comparable store sales growth and record earnings, and I want to congratulate Team O'Reilly on their consistent performance and unwavering commitment to our customers. Our Team also delivered a strong finish to our expansion efforts in 2024, meeting our new store opening target with the successful opening of 198 net, new stores and completing our planned distribution expansion with the relocation of our Atlanta, Georgia distribution center to a larger, modern facility in the fourth quarter.' Sales for the year ended December 31, 2024 , increased $896 million , or 6%, to $16.71 billion from $15.81 billion for the same period one year ago. Gross profit for the year ended December 31, 2024 , increased 6% to $8.55 billion (or 51.2% of sales) from $8.10 billion (or 51.3% of sales) for the same period one year ago. SG&A for the year ended December 31, 2024 , increased 8% to $5.30 billion (or 31.7% of sales) from $4.92 billion (or 31.1% of sales) for the same period one year ago. Operating income for the year ended December 31, 2024 , increased 2% to $3.25 billion (or 19.5% of sales) from $3.19 billion (or 20.2% of sales) for the same period one year ago. Net income for the year ended December 31, 2024 , increased $40 million , or 2%, to $2.39 billion (or 14.3% of sales) from $2.35 billion (or 14.8% of sales) for the same period one year ago. Diluted earnings per common share for the year ended December 31, 2024 , increased 6% to $40.66 on 59 million shares versus $38.47 on 61 million shares for the same period one year ago. 4th Quarter and Full-Year Comparable Store Sales Results Comparable store sales are calculated based on the change in sales for U.S. stores open at least one year and exclude sales of specialty machinery, sales to independent parts stores, and sales to Team Members, as well as sales from Leap Day for the year ended December 31, 2024 . Online sales for ship-to-home orders and pick-up-in-store orders for U.S. stores open at least one year are included in the comparable store sales calculation. Comparable store sales increased 4.4% for the fourth quarter ended December 31, 2024 , on top of 3.4% for the same period one year ago. Comparable store sales increased 2.9% for the year ended December 31, 2024 , on top of 7.9% for the same period one year ago. Share Repurchase Program During the fourth quarter ended December 31, 2024 , the Company repurchased 0.4 million shares of its common stock, at an average price per share of $1,207.43 , for a total investment of $472 million . During the year ended December 31, 2024 , the Company repurchased 1.9 million shares of its common stock, at an average price per share of $1,072.47 , for a total investment of $2.08 billion . Excise tax on shares repurchased, assessed at one percent of the fair market value of shares repurchased, was $20.8 million for the year ended December 31, 2024 . Subsequent to the end of the fourth quarter and through the date of this release, the Company repurchased an additional 0.1 million shares of its common stock, at an average price per share of $1,232.37 , for a total investment of $181 million . The Company has repurchased a total of 96.2 million shares of its common stock under its share repurchase program since the inception of the program in January of 2011 and through the date of this release, at an average price of $264.49 , for a total aggregate investment of $25.44 billion . As of the date of this release, the Company had approximately $2.31 billion remaining under its current share repurchase authorizations. Full-Year 2025 Guidance The table below outlines the Company's guidance for selected full-year 2025 financial data: https://www.globenewswire.com/news-release/2025/02/05/3021621/0/en/O-Reilly-Automotive-Inc-Reports-Fourth-Quarter-and-Full-Year-2024-Results.html (C) 2025 Electronic News Publishing, source ENP Newswire

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