The company said sales for the three months ended March 31, 2024 rose $268 million, or 7%, to $3.98 billion from $3.71 billion a year earlier. Comparable store sales increased 3.4%. It opened 37 net new stores and began operating 23 stores in Canada from the Vast Auto acquisition.

1. 01

   The company said sales for the three months ended March 31, 2024 rose $268 million, or 7%, to $3.98 billion from $3.71 billion a year earlier. Comparable store sales increased 3.4%. It opened 37 net new stores and began operating 23 stores in Canada from the Vast Auto acquisition.

2. 02

   O'Reilly said gross profit for the 3 months rose 8% to $2.03 billion (51.2% of sales, versus 51.0% a year earlier), and operating income rose 5% to $752 million (18.9% of sales, versus 19.3% a year earlier). SG&A increased 9% to $1.28 billion, or 32.2% of sales.

3. 03

   The company said net income for the 3 months rose 6% to $547 million (13.8% of sales), and diluted earnings per share increased 11% to $9.20 on 59 million shares, versus $8.28 on 62 million shares a year earlier. Its effective tax rate was 21.9%, compared with 23.7% a year earlier.

4. 04

   The company said net cash provided by operating activities for the 3 months fell from a year earlier, citing a larger increase in net inventory investment and higher accounts receivable. It attributed the increase in net cash used in investing activities to the Vast Auto acquisition and higher capital expenditures. As of March 31, 2024, its consolidated fixed charge coverage ratio was 6.31 times and its consolidated leverage ratio was 1.84 times.

Key figures

Quarter ended March 31, 2024

Revenue

$4.0B

Operating income

$752M

Net income

$547M

EPS

$9.20

Gross profit

$2.0B

Operating cash flow

$704M

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.