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O'Reilly: 3Rd Quarter Earnings Press Release Exhibit

The following excerpt is from the company's SEC filing.

Exhibit 99.1

FOR IMMEDIATE RELEASE

O'REILLY AUTOMOTIVE, INC. REPORTS THIRD QUARTER 2015 RESULTS

Third quarter comparable store sales increase of 7.9%

Record high third quarter operating margin of 20.0%

21% increase in third quarter operating profit dollars

Springfield, MO,

October 28, 2015

O'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

quarter ended

September 30, 2015

Quarter Financia l Results

Sales for the

, increased

$203 million

$2.08 billion

$1.88 billion

for the same period one year ago. Gross profit for the

quarter increased to

$1.09 billion

of sales) from

$968 million

of sales) for the same period one year ago, representing an increase of

. Selling, general and administrative expenses ("SG&A") for the

$674 million

$624 million

. Operating income for the

$415 million

$344 million

Net income for the

$49 million

$266 million

$217 million

of sales) for the same period one year ago. Diluted earnings per common share for the

101 million

shares versus

105 million

shares for the same period one year ago.

O’Reilly’s President and CEO, Greg Henslee commented, “We are extremely proud to report another very successful quarter, highlighted by a 7.9% increase in comparable store sales and a record high operating margin of 20.0%. Our industry leading comparable store sales results this quarter represent our 8th consecutive quarter of comparable store sales growth greater than 5%, with an especially robust increase of over 7% in each quarter of this year. This consistently strong performance is the direct result of our Team Members’ commitment to providing excellent customer service every day in all of our stores, and I would like to thank each of our over 72,000 Team Members for their hard work and dedication to our ongoing success.”

Mr. Henslee continued, “Our relentless focus on profitable growth translated our very strong top-line performance into an all-time, record high, operating margin of 20.0%, representing another milestone achievement for O’Reilly. This quarter also represents our 27th consecutive quarter of diluted earnings per share growth greater than 15%, with a 28% increase in third quarter diluted earnings per share to $2.64. Our third quarter earnings per share results included a benefit of approximately $0.11 as the result of the resolution of certain historical tax positions, which was greater than what we would normally expect to realize in the third quarter. While we are pleased to have favorably resolved these issues, this benefit is not representative of our expected tax rate moving forward. Excluding this $0.11 benefit, our third quarter diluted earnings per share increased 23%.”

Year-to-Date Financial Results

Sales for the first

months of

$566 million

$6.02 billion

$5.45 billion

for the same period one year ago. Gross profit for the first

$3.14 billion

$2.80 billion

. SG&A for the first

$1.98 billion

$1.83 billion

. Operating income for the first

$1.15 billion

$967 million

Net income for the first

$116 million

$713 million

$597 million

of sales) for the same period one year ago. Diluted earnings per common share for the first

102 million

107 million

Mr. Henslee added, “During the third quarter, we opened 58 net, new stores, which brings our year-to-date store expansion to 157 net, new stores across 34 states, and we are on target to reach our goal of 205 net, new store openings this year. Additionally, I am pleased to announce that in October, we expanded into our 44th state with the opening of two stores in Connecticut. We continue to be very pleased with the performance of our new store openings, staffed with great Teams who provide excellent customer service, and we remain very confident in the long-term drivers for demand in our industry. Based on these factors, we are pleased to announce our plan to increase the number of our new store openings to 210 net, new stores in 2016. We are very proud of our long record of consistently strong and profitable growth, and we remain focused on continuing to provide unsurpassed levels of service to our customers into the future.”

Share Repurchase Program

, the Company repurchased

1.1 million

shares of its common stock, at an average price per share of

$238.97

, for a total investment of

$274 million

. During the first

3.8 million

$224.39

$849 million

. Subsequent to the end of the

quarter and through the date of this release, the Company repurchased an additional

0.1 million

$247.74

$30 million

. The Company has repurchased a total of

50.3 million

shares of its common stock under its share repurchase program since the inception of the program in January of 2011 and through the date of this release, at an average price of

$101.48

, for a total aggregate investment of

$5.10 billion

. As of the date of this release, the Company had approximately

$400 million

remaining under its current share repurchase authorization.

Quarter Comparable Store Sales Results

Comparable store sales are calculated based on the change in sales for stores open at least one year and exclude sales of specialty machinery, sales to independent parts stores and sales to Team Members. Comparable store sales increased

, versus

for the same period one year ago...


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