O'Reilly Automotive, Inc. Reports Fourth Quarter and Full-Year 2024 Results

Core Insights - O'Reilly Automotive, Inc. reported record revenue for the fourth quarter and full year ended December 31, 2024, marking 32 consecutive years of comparable store sales growth since going public in 1993 [1][5]. 4th Quarter Financial Results - Comparable store sales grew by 4.4%, driven by both professional and DIY segments [2]. - Fourth quarter sales increased by $264 million, or 7%, to $4.10 billion from $3.83 billion year-over-year [2]. - Gross profit for the fourth quarter rose 7% to $2.10 billion, maintaining a gross margin of 51.3% [2]. - Selling, general and administrative expenses (SG&A) increased by 9% to $1.36 billion, representing 33.3% of sales [2]. - Operating income for the fourth quarter increased by 3% to $739 million, or 18.0% of sales [2]. Full-Year Financial Results - Full-year comparable store sales growth reached 2.9%, at the high end of the revised guidance range of 2% to 3% [5]. - Total sales for the year increased by $896 million, or 6%, to $16.71 billion from $15.81 billion year-over-year [5]. - Gross profit for the year rose 6% to $8.55 billion, with a gross margin of 51.2% [5]. - SG&A for the year increased by 8% to $5.30 billion, representing 31.7% of sales [5]. - Operating income for the year increased by 2% to $3.25 billion, or 19.5% of sales [5]. Net Income and Earnings Per Share - Net income for the fourth quarter decreased slightly by $1 million to $551 million, or 13.5% of sales [4]. - Diluted earnings per share for the fourth quarter increased by 3% to $9.50 on 58 million shares [4]. - For the full year, net income increased by $40 million, or 2%, to $2.39 billion, or 14.3% of sales [6]. Share Repurchase Program - In the fourth quarter, the company repurchased 0.4 million shares at an average price of $1,207.43, totaling $472 million [9]. - For the full year, 1.9 million shares were repurchased at an average price of $1,072.47, totaling $2.08 billion [9]. 2025 Guidance - The company anticipates net new store openings of 200 to 210 and comparable store sales growth of 2.0% to 4.0% for 2025 [10]. - Total revenue is expected to be between $17.4 billion and $17.7 billion, with gross profit as a percentage of sales projected at 51.2% to 51.7% [10].