Exhibit 99.1Letterhead 2013.jpg

FOR IMMEDIATE RELEASE

O’REILLY AUTOMOTIVE, INC. REPORTS FOURTH QUARTER AND
FULL-YEAR 2012 RESULTS

 

·

25% increase in full year adjusted diluted earnings per share to $4.75

·

Full year record operating margin of 15.8%

·

Fourth quarter comparable store sales increase of 4.2%

 

Springfield, MO, February 6, 2013O’Reilly Automotive, Inc. (the “Company” or “O’Reilly”) (Nasdaq: ORLY), a leading retailer in the automotive aftermarket industry, today announced record revenues and earnings for its fourth quarter and full year ended December  31, 2012.  The results represent 20 consecutive years of comparable store sales growth and record revenue and operating income for O’Reilly since becoming a public company in April of 1993.    

 

4th Quarter Financial Results

Sales for the fourth quarter ended December  31, 2012, increased $97 million, or 7%, to $1.49 billion from $1.39 billion for the same period one year ago.  Gross profit for the fourth quarter increased to $750 million (or 50.4% of sales) from $695 million (or 49.9% of sales) for the same period one year ago, representing an increase of 8%.  Selling, general and administrative expenses (“SG&A”) for the fourth quarter increased to $527 million (or 35.4% of sales) from $491 million (or 35.3% of sales) for the same period one year ago, representing an increase of 8%. Operating income for the fourth quarter increased to $223 million (or 15.0% of sales) from $207 million (or 14.9% of sales) for the same period one year ago, representing an increase of 8%.

 

Net income for the fourth quarter ended December  31, 2012, increased $10 million, or 8%, to $133 million (or 8.9% of sales) from $123 million (or 8.8% of sales) for the same period one year ago.  Diluted earnings per common share for the fourth quarter ended December 31, 2012, increased 21% to $1.14 on 116 million shares versus $0.94 for the same period one year ago on 130 million shares.

 

As previously announced, the Company’s results for the fourth quarter ended December 31, 2011, included nonrecurring income related to a settlement between the Securities and Exchange Commission and  a former CSK Auto Corporation (“CSK”) officer that resulted in the reimbursement to CSK of $3 million ($2 million, net of tax) of incentive-based compensation and stock sale profits previously received by the officer.  This “clawback” amount was included in “Operating income” on the Company’s Condensed Consolidated Statements of Income for the fourth quarter ended December 31, 2011.  The results discussed in the paragraph below are adjusted for this nonrecurring item for the fourth quarter ended December 31, 2011, and are reconciled in the table accompanying this release.

 

Adjusted operating income for the fourth quarter ended December 31, 2012, increased to $223 million (or 15.0% of sales) from $204 million (or 14.7% of sales) for the same period one year ago, representing an increase of 9%.  Adjusted net income for the fourth quarter ended December 31, 2012, increased $12 million, or 10%, to $133 million (or 8.9% of sales) from $121 million (or 8.7% of sales) for the same period one year ago.  Adjusted diluted earnings per common share for the fourth quarter ended December 31, 2012, increased 23% to $1.14 on 116 million shares versus $0.93 for the same period one year ago on 130 million shares.

 

Commenting on O’Reilly’s quarterly results, Greg Henslee, President and CEO stated, “We are pleased to report a strong fourth quarter, highlighted by a comparable stores sales increase of 4.2%, which exceeded our guidance range of 2% to 4%.  We believe our strong performance is the result of our teams continued efforts to provide the highest levels of


The following information was filed by O Reilly Automotive Inc (ORLY) on Thursday, February 7, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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