Exhibit 99.1
letterhead2018a07.jpg
FOR IMMEDIATE RELEASE

O’REILLY AUTOMOTIVE, INC. REPORTS THIRD QUARTER 2018 RESULTS


Third quarter comparable store sales increase of 3.9%
40% increase in third quarter diluted earnings per share to $4.50
Year-to-date net cash provided by operating activities increased 23%

Springfield, MO, October 24, 2018O’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 third quarter ended September 30, 2018.

3rd Quarter Financial Results
Greg Johnson, O’Reilly’s CEO and Co-President, commented, “We are pleased to report another profitable quarter, driven by Team O’Reilly’s commitment to providing excellent service to every customer.  Our third quarter comparable store sales increase of 3.9% was at the top end of our guidance range and is a testament to the hard work and dedication of our Team.  As a reminder, our third quarter comparable store sales results include approximately 50 basis points of headwind from one additional Sunday this year, which is our lowest volume day.  Our Team’s continued focus on profitable growth generated a solid 5% increase in third quarter operating profit dollars and a 40% increase in third quarter diluted earnings per share to $4.50, and I would like to thank our Team Members for their continued hard work, dedication and relentless focus on providing consistently excellent service to our customers.”

Sales for the third quarter ended September 30, 2018, increased $143 million, or 6%, to $2.48 billion from $2.34 billion for the same period one year ago. Gross profit for the third quarter increased 7% to $1.32 billion (or 53.0% of sales) from $1.23 billion (or 52.6% of sales) for the same period one year ago. Selling, general and administrative expenses (“SG&A”) for the third quarter increased 8% to $831 million (or 33.5% of sales) from $768 million (or 32.8% of sales) for the same period one year ago. Operating income for the third quarter increased 5% to $485 million (or 19.5% of sales) from $462 million (or 19.7% of sales) for the same period one year ago.

Net income for the third quarter ended September 30, 2018, increased $82 million, or 29%, to $366 million (or 14.7% of sales) from $284 million (or 12.1% of sales) for the same period one year ago. Diluted earnings per common share for the third quarter increased 40% to $4.50 on 81 million shares versus $3.22 on 88 million shares for the same period one year ago.

Year-to-Date Financial Results
Mr. Johnson continued, “During the third quarter, we opened 43 net, new stores, which brings our year-to-date store openings to 171 net, new stores across 33 states, and we are well positioned to achieve our target of 200 net, new stores for 2018.  We continue to be pleased with the performance of our new stores and remain very confident in our opportunities to profitably grow in both existing and new market areas.  Based on solid industry demand drivers and our confidence in the ability of our store Teams to continue to take market share, we are establishing a target range of 200 to 210 net, new store openings for 2019, supported by our industry-leading distribution network and best-in-class parts availability.”

Sales for the first nine months of 2018 increased $435 million, or 6%, to $7.22 billion from $6.79 billion for the same period one year ago. Gross profit for the first nine months of 2018 increased 7% to $3.81 billion (or 52.7% of sales) from $3.56 billion (or 52.5% of sales) for the same period one year ago. SG&A for the first nine months of 2018 increased 8% to $2.42 billion (or 33.5% of sales) from $2.24 billion (or 33.0% of sales) for the same period one year ago. Operating income for


The following information was filed by O Reilly Automotive Inc (ORLY) on Wednesday, October 24, 2018 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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