O'Reilly Automotive, Inc. Reports First Quarter 2025 Results

Core Insights - O'Reilly Automotive, Inc. reported record revenue for Q1 2025, with a total revenue of $4.14 billion, an increase of $161 million or 4% compared to $3.98 billion in Q1 2024 [2][3] - Comparable store sales increased by 3.6% in Q1 2025, building on a 3.4% increase in the same period last year, driven by growth in both professional and DIY segments [2][4] - The company maintains its full-year comparable store sales guidance of 2.0% to 4.0% and plans to open 200 to 210 new stores by the end of 2025 [2][8] Financial Performance - Gross profit for Q1 2025 was $2.12 billion, representing 51.3% of sales, up from $2.03 billion or 51.2% of sales in Q1 2024 [2][3] - Selling, general, and administrative expenses rose by 8% to $1.38 billion, accounting for 33.4% of sales, compared to 32.2% in the previous year [2] - Operating income decreased by 1% to $741 million, or 17.9% of sales, down from $752 million or 18.9% of sales in Q1 2024 [2][3] Net Income and Earnings - Net income for Q1 2025 was $538 million, a decrease of $9 million or 2% from $547 million in Q1 2024, representing 13.0% of sales compared to 13.8% [3][18] - Diluted earnings per share increased by 2% to $9.35 on 58 million shares, compared to $9.20 on 59 million shares in the same period last year [3][18] Share Repurchase Program - In Q1 2025, the company repurchased 0.4 million shares at an average price of $1,297.15, totaling an investment of $559 million [5][7] - An additional 0.1 million shares were repurchased after Q1 at an average price of $1,378.80, totaling $122 million [5][7] Cash Flow and Capital Expenditures - Net cash provided by operating activities for Q1 2025 was $755 million, an increase from $704 million in Q1 2024 [6][23] - Capital expenditures for Q1 2025 were $287 million, compared to $249 million in the same period last year [19][23] Store Expansion - The company opened 38 new stores in Q1 2025, contributing to a total of 6,416 stores across the U.S., Puerto Rico, Mexico, and Canada as of March 31, 2025 [2][24] - The company plans to continue its expansion strategy with a target of 200 to 210 new store openings for the full year [8][24]