Exhibit 99.1
letterhead2019a05.jpg
FOR IMMEDIATE RELEASE

O’REILLY AUTOMOTIVE, INC. REPORTS SECOND QUARTER 2019 RESULTS


Second quarter comparable store sales increase of 3.4%
36 basis point increase in second quarter gross margin to 52.8%
4% increase in second quarter operating profit dollars

Springfield, MO, July 24, 2019O’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 second quarter ended June 30, 2019.

2nd Quarter Financial Results
Greg Johnson, O’Reilly’s CEO and Co-President, commented, “I would like to thank Team O’Reilly for their commitment to consistently providing excellent service to our customers every day. For the quarter, our comparable stores sales growth was 3.4%, which was in the lower end of our 3% to 5% guidance range as unseasonably cool and rainy weather in many of our markets was a headwind to summer, heat related categories. The challenging weather also caused significant delays in construction and new store openings, resulting in lower than planned non-comparable store sales volumes for the quarter. As a result of these top-line headwinds and continued pressure to SG&A, our diluted earnings per share for the second quarter of $4.51 came in $0.04 below our guidance range. Despite the challenges we have seen in the seasonal demand environment thus far in 2019, we remain confident in the solid demand drivers supporting our industry and in our Team’s ability to provide unsurpassed levels of service to our customers, and as a result, we are maintaining our full-year comparable store sales guidance at a range of 3% to 5%.”

Sales for the second quarter ended June 30, 2019, increased $134 million, or 5%, to $2.59 billion from $2.46 billion for the same period one year ago. Gross profit for the second quarter increased 6% to $1.37 billion (or 52.8% of sales) from $1.29 billion (or 52.5% of sales) for the same period one year ago. Selling, general and administrative expenses (“SG&A”) for the second quarter increased 8% to $870 million (or 33.6% of sales) from $809 million (or 33.0% of sales) for the same period one year ago. Operating income for the second quarter increased 4% to $498 million (or 19.2% of sales) from $479 million (or 19.5% of sales) for the same period one year ago.

Net income for the second quarter ended June 30, 2019, increased $1 million to $354 million (or 13.7% of sales) from $353 million (or 14.4% of sales) for the same period one year ago. Diluted earnings per common share for the second quarter increased 5% to $4.51 on 78 million shares versus $4.28 on 83 million shares for the same period one year ago.

Year-to-Date Financial Results
Sales for the first six months of 2019 increased $262 million, or 6%, to $5.00 billion from $4.74 billion for the same period one year ago. Gross profit for the first six months of 2019 increased 6% to $2.65 billion (or 52.9% of sales) from $2.49 billion (or 52.5% of sales) for the same period one year ago. SG&A for the first six months of 2019 increased 7% to $1.70 billion (or 34.1% of sales) from $1.59 billion (or 33.5% of sales) for the same period one year ago. Operating income for the first six months of 2019 increased 5% to $943 million (or 18.9% of sales) from $902 million (or 19.0% of sales) for the same period one year ago.

Net income for the first six months of 2019 increased $17 million, or 3%, to $675 million (or 13.5% of sales) from $658 million (or 13.9% of sales) for the same period one year ago. Diluted earnings per common share for the first six months of 2019 increased 8% to $8.56 on 79 million shares versus $7.89 on 83 million shares for the same period one year ago.


The following information was filed by O Reilly Automotive Inc (ORLY) on Wednesday, July 24, 2019 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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