O’Reilly Automotive Stories Third Quarter 2021 Outcomes

O’Reilly Automotive has introduced report income and earnings for its third quarter ended Sept. 30, 2021. 

Greg Johnson, O’Reilly’s CEO and Co-President, commented, “We’re happy to as soon as once more report one other very worthwhile quarter, highlighted by a 6.7% enhance in third quarter comparable retailer gross sales, on high of the extremely robust 16.9% enhance we generated within the prior 12 months, and a powerful 14% enhance in diluted earnings per share to $8.07. This represents the sixth consecutive quarter our Group has delivered double-digit diluted earnings per share development. Group O’Reilly’s continued dedication to offering persistently wonderful customer support, whereas diligently executing our security protocols within the midst of the continuing pandemic, is really exceptional, and I want to thank every member of our Group for his or her extraordinary dedication and arduous work.” 

Gross sales for the third quarter ended Sept. 30, 2021, elevated $272 million, or 8%, to $3.48 billion from $3.21 billion for a similar interval one 12 months in the past. Gross revenue for the third quarter elevated 8% to $1.82 billion (or 52.3% of gross sales) from $1.68 billion (or 52.4% of gross sales) for a similar interval one 12 months in the past. 

Working earnings for the third quarter elevated 4% to $755 million (or 21.7% of gross sales) from $725 million (or 22.6% of gross sales) for a similar interval one 12 months in the past. Internet earnings for the third quarter elevated $31 million, or 6%, to $559 million (or 16.1% of gross sales) from $527 million (or 16.4% of gross sales) for a similar interval one 12 months in the past. Diluted earnings per frequent share for the third quarter elevated 14% to $8.07 on 69 million shares versus $7.07 on 75 million shares for a similar interval one 12 months in the past. 

12 months-to-Date Monetary Outcomes 

Mr. Johnson continued, “The highest-line power we skilled by means of the primary three quarters of the 12 months has continued to date in October, and we anticipate to generate continued stable gross sales volumes as we end out 2021. Our efficiency is a testomony to the worth proposition delivered by our devoted Group, and we’re assured in Group O’Reilly’s capacity to offer wonderful customer support and drive continued excellent outcomes; in consequence, we’re rising our full-year 2021 comparable retailer gross sales steering to a variety of 10% to 12%, which displays our robust year-to-date efficiency and our expectations for the rest of the fourth quarter.” 

Johnson concluded, “By way of the primary 9 months of 2021, we continued to construct our model with the addition of 146 web, new shops throughout 40 U.S. states, and we proceed to be very happy with the efficiency of our new shops. Based mostly on our favorable outlook of the long-term demand drivers inside our business and, most significantly, our confidence in our Group’s capacity to execute our enterprise mannequin, we’re happy to announce our plans to extend our new retailer openings to a variety of 175 to 185 web, new shops in 2022.” 

Gross sales for the primary 9 months of 2021 elevated $1.26 billion, or 14%, to $10.04 billion from $8.78 billion for a similar interval one 12 months in the past. Gross revenue for the primary 9 months of 2021 elevated 15% to $5.29 billion (or 52.7% of gross sales) from $4.61 billion (or 52.6% of gross sales) for a similar interval one 12 months in the past. 

Working earnings for the primary 9 months of 2021 elevated 19% to $2.24 billion (or 22.3% of gross sales) from $1.89 billion (or 21.5% of gross sales) for a similar interval one 12 months in the past. Internet earnings for the primary 9 months of 2021 elevated $286 million, or 21%, to $1.65 billion (or 16.4% of gross sales) from $1.36 billion (or 15.5% of gross sales) for a similar interval one 12 months in the past. Diluted earnings per frequent share for the primary 9 months of 2021 elevated 29% to $23.45 on 70 million shares versus $18.12 on 75 million shares for a similar interval one 12 months in the past. 

Share Repurchase Program 

Through the third quarter, the corporate repurchased 1.6 million shares of its frequent inventory, at a mean worth per share of $595.96, for a complete funding of $943 million. Through the first 9 months of 2021, the corporate repurchased 3.8 million shares of its frequent inventory, at a mean worth per share of $528.09, for a complete funding of $2.01 billion. Subsequent to the tip of the third quarter and thru the date of this launch, the corporate repurchased a further 0.3 million shares of its frequent inventory, at a mean worth per share of $615.41, for a complete funding of $188 million. The corporate has repurchased a complete of 85.1 million shares of its frequent inventory underneath its share repurchase program for the reason that inception of this system in January of 2011 and thru the date of this launch, at a mean worth of $193.41, for a complete combination funding of $16.46 billion. As of the date of this launch, the corporate had roughly $786 million remaining underneath its present share repurchase authorization.



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