O'Reilly Auto Q3 2022 Earnings Report
Key Takeaways
O'Reilly Automotive, Inc. reported record revenue and earnings for the third quarter ended September 30, 2022. Comparable store sales increased by 7.6%, and diluted earnings per share increased by 14% to $9.17. The company opened 154 net new stores year-to-date and is on track to reach its target of approximately 180 net new store openings in 2022.
Third quarter comparable store sales growth of 7.6%, with a three-year stack increase of 31.2%.
Diluted earnings per share increased 14% to $9.17.
Sales for the third quarter increased 9% to $3.80 billion.
Net income for the third quarter increased 5% to $585 million.
O'Reilly Auto
O'Reilly Auto
Forward Guidance
O'Reilly Automotive provided updated full-year 2022 guidance, including comparable store sales growth between 4.5% and 5.5%, total revenue between $14.1 billion and $14.3 billion, and diluted earnings per share between $32.35 and $32.85.
Positive Outlook
- Comparable store sales growth between 4.5% and 5.5%
- Total revenue between $14.1 billion and $14.3 billion
- Gross profit as a percentage of sales between 50.8% and 51.3%
- Operating income as a percentage of sales between 20.3% and 20.6%
- Net cash provided by operating activities between $2.5 billion and $3.0 billion
Challenges Ahead
- Effective income tax rate of 23.0%
- Capital expenditures between $550 million and $650 million
- Free cash flow between $1.8 billion and $2.1 billion
- The company faces risks, uncertainties and assumptions, including, but not limited to, the COVID-19 pandemic or other public health crises.
- The company faces risks, uncertainties and assumptions, including, but not limited to, the economy in general and inflation.