Updated Full-Year 2024 Guidance
The table below outlines the Company’s updated guidance for selected full-year 2024 financial data:
| | |
| | For the Year Ending |
| | December 31, 2024 |
Net, new store openings | | 190 to 200 |
Comparable store sales | | 2.0% to 3.0% |
Total revenue | | $16.6 billion to $16.8 billion |
Gross profit as a percentage of sales | | 51.0% to 51.5% |
Operating income as a percentage of sales | | 19.4% to 19.9% |
Effective income tax rate | | 21.8% |
Diluted earnings per share (1) | | $40.60 to $41.10 |
Net cash provided by operating activities | | $2.7 billion to $3.1 billion |
Capital expenditures | | $900 million to $1.0 billion |
Free cash flow (2) | | $1.8 billion to $2.1 billion |
| (1) | Weighted-average shares outstanding, assuming dilution, used in the denominator of this calculation, includes share repurchases made by the Company through the date of this release. |
| (2) | Free cash flow is a non-GAAP financial measure. The table below reconciles Free cash flow guidance to Net cash provided by operating activities guidance, the most directly comparable GAAP financial measure: |
| | | | | | | | | |
| | For the Year Ending |
(in millions) | | December 31, 2024 |
Net cash provided by operating activities | | $ | 2,730 | | to | | $ | 3,140 |
Less: | Capital expenditures | | | 900 | | to | | | 1,000 |
| Excess tax benefit from share-based compensation payments | | | 30 | | to | | | 40 |
Free cash flow | | $ | 1,800 | | to | | $ | 2,100 |
Non-GAAP Information
This release contains certain financial information not derived in accordance with United States generally accepted accounting principles (“GAAP”). These items include adjusted debt to earnings before interest, taxes, depreciation, amortization, share-based compensation, and rent (“EBITDAR”) and free cash flow. The Company does not, nor does it suggest investors should, consider such non-GAAP financial measures in isolation from, or as a substitute for, GAAP financial information. The Company believes that the presentation of adjusted debt to EBITDAR and free cash flow provide meaningful supplemental information to both management and investors that is indicative of the Company’s core operations. The Company has included a reconciliation of this additional information to the most comparable GAAP measure in the table above and the selected financial information below.
Earnings Conference Call Information
The Company will host a conference call on Thursday, October 24, 2024, at 10:00 a.m. Central Time to discuss its results as well as future expectations. Investors may listen to the conference call live on the Company’s website at www.OReillyAuto.com by clicking on “Investor Relations” and then “News Room.” Interested analysts are invited to join the call. The dial-in number for the call is (888) 506-0062 and the conference call identification number is 560004. A replay of the conference call will be available on the Company’s website through Thursday, October 23, 2025.
About O’Reilly Automotive, Inc.
O’Reilly Automotive, Inc. was founded in 1957 by the O’Reilly family and is one of the largest specialty retailers of automotive aftermarket parts, tools, supplies, equipment, and accessories in the United States, serving both the do-it-yourself and professional service provider markets. Visit the Company’s website at www.OReillyAuto.com for additional information about O’Reilly, including access to online shopping and current promotions, store locations, hours and services, employment opportunities, and other programs. As of September 30, 2024, the Company operated 6,291 stores across 48 U.S. states, Puerto Rico, Mexico, and Canada.
Forward-Looking Statements
The Company claims the protection of the safe-harbor for forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by forward-looking words such as “estimate,” “may,” “could,” “will,” “believe,” “expect,” “would,” “consider,” “should,” “anticipate,” “project,” “plan,” “intend,”