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Mar 31, 2024
O'Reilly Auto Q1 2024 Earnings Report
O'Reilly Automotive's first quarter results for 2024, featuring record revenue and earnings, were announced.
Key Takeaways
O'Reilly Automotive reported a solid start to 2024 with a 3.4% increase in comparable store sales and an 11% increase in diluted earnings per share to $9.20. The company also completed the acquisition of Groupe Del Vasto and began operating 23 stores in Canada after acquiring Vast Auto.
Comparable store sales increased by 3.4%.
Diluted earnings per share increased by 11% to $9.20.
The acquisition of Groupe Del Vasto was completed in January.
The company began operating 23 stores in Canada after acquiring Vast Auto.
Revenue by Geographic Location
Forward Guidance
O'Reilly Automotive provided updated full-year 2024 guidance, including comparable store sales growth between 3.0% and 5.0% and diluted earnings per share between $41.35 and $41.85.
Positive Outlook
- Net new store openings between 190 and 200.
- Comparable store sales growth between 3.0% and 5.0%.
- Total revenue between $16.8 billion and $17.1 billion.
- Gross profit as a percentage of sales between 51.0% and 51.5%.
- Operating income as a percentage of sales between 19.7% and 20.2%.
Challenges Ahead
- Effective income tax rate of 22.4%.
- Capital expenditures between $900 million and $1.0 billion.
- Free cash flow between $1.8 billion and $2.1 billion.
- Net sales are expected to be between $16.8 billion and $17.1 billion.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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