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Dec 31, 2023
O'Reilly Auto Q4 2023 Earnings Report
O'Reilly Automotive reported a solid fourth quarter, marked by comparable store sales growth and an increase in diluted earnings per share.
Key Takeaways
O'Reilly Automotive, Inc. announced record revenue and earnings for its fourth quarter and full-year ended December 31, 2023. Fourth quarter comparable store sales increased by 3.4%. Diluted earnings per share for the fourth quarter increased 11% to $9.26.
Fourth quarter comparable store sales growth of 3.4%, full-year increase of 7.9%.
Diluted earnings per share increased 11% to $9.26 for the fourth quarter.
Completed previously announced Leadership Succession Plan.
Opened 186 new stores during the year.
O'Reilly Auto
O'Reilly Auto
O'Reilly Auto Revenue by Geographic Location
Revenue by Geographic Location
U.S. Total Sales Revenue
CapyFin.com Forward Guidance
The company provided guidance for the full year 2024, including net new store openings between 190 and 200, comparable store sales growth between 3.0% and 5.0%, and total revenue between $16.8 billion and $17.1 billion.
Positive Outlook
- Net, new store openings: 190 to 200
- Comparable store sales: 3.0% to 5.0%
- Total revenue: $16.8 billion to $17.1 billion
- Gross profit as a percentage of sales: 51.0% to 51.5%
- Operating income as a percentage of sales: 19.7% to 20.2%
Challenges Ahead
- Effective income tax rate: 22.6%
- Diluted earnings per share: $41.05 to $41.55
- Net cash provided by operating activities: $2.7 billion to $3.1 billion
- Capital expenditures: $900 million to $1.0 billion
- Free cash flow: $1.8 billion to $2.1 billion