O'Reilly Auto Q1 2021 Earnings Report
Key Takeaways
O'Reilly Automotive, Inc. announced record revenue of $3.09 billion for the first quarter of 2021, a 25% increase compared to the same period last year. Diluted earnings per share increased by 78% to $7.06. The company is raising its full-year comparable store sales guidance to a range of positive 1% to 3% and increasing its full-year diluted earnings per share guidance to a range of $24.75 to $24.95.
Comparable store sales increased by 24.8%, the strongest quarterly growth in the company's history.
Operating income increased by 63%, with a 526 basis point increase in operating margin to 22.4%.
Diluted earnings per share increased by 78% to $7.06.
The company is raising its full-year comparable store sales and diluted earnings per share guidance.
O'Reilly Auto
O'Reilly Auto
Forward Guidance
O'Reilly Automotive is raising its full-year guidance for comparable store sales and diluted earnings per share, reflecting the strength of its first quarter results and confidence in its team's ability to provide industry-leading customer service.
Positive Outlook
- Full-year comparable store sales guidance raised to a range of positive 1% to 3%.
- Full-year diluted earnings per share guidance increased to a range of $24.75 to $24.95.
- The updated guidance reflects an increase of $2.05 at the midpoint from the previously provided guidance.
- The company anticipates continued strength across its DIY and professional business.
- The company expects to benefit from favorable winter and spring weather.
Challenges Ahead
- The company anticipates potentially significant volatility in its results.
- The volatility is driven by the ongoing uncertainty related to the pandemic.
- The company will update full-year guidance during 2021, as appropriate, and if needed.
- The company's forward-looking statements are subject to risks, uncertainties and assumptions.
- Actual results may materially differ from anticipated results described or implied in the forward-looking statements.