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Jun 30, 2024
O'Reilly Auto Q2 2024 Earnings Report
O'Reilly Automotive's performance was marked by increased sales and profitability despite facing a challenging demand environment.
Key Takeaways
O'Reilly Automotive reported record revenue for the second quarter ended June 30, 2024, with sales increasing to $4.27 billion. Comparable store sales grew by 2.3%, driven by solid growth in the professional business. Diluted earnings per share increased to $10.55.
Second quarter comparable store sales growth was 2.3%.
Sales for the second quarter reached $4.27 billion, a 5% increase from the previous year.
Diluted earnings per share for the second quarter increased 3% to $10.55.
The company updated its full-year comparable store sales guidance to a range of 2.0% to 4.0%.
O'Reilly Auto
O'Reilly Auto
Forward Guidance
O'Reilly Automotive updated its full-year comparable store sales guidance from a range of 3.0% to 5.0% to a range of 2.0% to 4.0%.
Positive Outlook
- Net, new store openings between 190 to 200
- Comparable store sales between 2.0% to 4.0%
- Total revenue between $16.6 billion to $16.9 billion
- Gross profit as a percentage of sales between 51.0% to 51.5%
- Operating income as a percentage of sales between 19.6% to 20.1%