O’Reilly Automotive, Inc. a leading retailer in the automotive aftermarket industry, announced record revenue and earnings for its third quarter ended September 30, 2025 and tipped Canadian expansion plans for 2026.

Brad Beckham, O’Reilly’s CEO, commented, “We are pleased to report another quarter of solid performance and profitable growth, highlighted by a 5.6% increase in comparable store sales and a 12% increase in diluted earnings per share for the third quarter.

“Our team continues to execute our proven business model at a very high level, generating robust sales growth by delivering share gains on both sides of our business. Team O’Reilly’s commitment to providing unparalleled service to our customers drove our strong results, and I would like to thank each of our over 93,000 Team Members for their unrelenting hard work and dedication.”

O’Reilly Automotive sales for the third quarter ended September 30, 2025, increased $341 million, or 8%, to $4.71 billion from $4.36 billion for the same period one year ago. Gross profit for the third quarter increased 8% to $2.44 billion (or 51.9% of sales) from $2.25 billion (or 51.6% of sales) for the same period one year ago. Selling, general and administrative expenses (“SG&A”) for the third quarter increased 8% to $1.46 billion (or 31.1% of sales) from $1.35 billion (or 31.0% of sales) for the same period one year ago.

Operating income for the third quarter increased 9% to $976 million (or 20.7% of sales) from $897 million (or 20.5% of sales) for the same period one year ago.

All figures in USD.

O’Reilly Automotive net income for the third quarter ended September 30, 2025, increased $60 million, or 9%, to $726 million (or 15.4% of sales) from $665 million (or 15.2% of sales) for the same period one year ago. Diluted earnings per common share for the third quarter increased 12% to $0.85 on 853 million shares versus $0.76 on 875 million shares for the same period one year ago.

The company completed a 15-for-1 forward stock split on June 10, 2025, and accordingly all share and per share data in current and comparable periods have been adjusted to reflect the split.

Expansion Outlook

Looking ahead, during the investment community conference call, Brent Kirby, O’Reilly Automotive Inc. President, said expansion is on the near horizon.

“We opened 55 net new stores across the US and Mexico during the third quarter. Bringing our year-to-date store opening to 160 stores. We are on track to achieve our 2025 new store opening target of 200 to 210 net new stores by year end, and we continue to be pleased with the performance of our new stores.

“New store growth remains an attractive use of capital for us. And we see ample growth opportunities spread across all of our North American footprint. In this regard, we are pleased to announce our 2026 store opening target of 225 to 235 net new stores. Just as our 2025 growth has been spread across 37 US states, Puerto Rico and Mexico, we anticipate growth in all of those markets, as well as in Canada in 2026.

“Our store growth in 2026 will continue to be concentrated in the US markets, but we will also continue our measured growth within our international markets as we work to develop the teams and infrastructure to support our O’Reilly operating model. Our tier distribution network continues to help drive our store’s competitive advantage in parts of availability. And we are pleased to begin servicing stores out of our new Stafford, Virginia distribution Center in the 4th quarter of this year. I would like to express my gratitude to our distribution and supply chain teams for all the hard work that has gone into the Atlantic market. This distribution center will be an important stepping stone for us to begin adding store count within heavily populated and untapped markets for us in the mid-Atlantic I-95 corridor. As excited as we are about this new facility, there is no pause for our dedicated supply chain teams. As we are full steam ahead with distribution growth and progress at our upcoming Fort Worth, Texas facility, as well as future opportunities that will further support our store growth and inventory availability.

“We continue to be extremely pleased with the way that our field teams are opening up new stores, just from a quality of the team, professional parts people, putting in place the right store manager, the right district managers, that absolutely does obviously a lot more that goes into it than just the teams, but that’s primarily how we make those decisions is Our ability, store count wise to staff them with great teams,” added Beckam.

Further to that, Beckam emphasized the launch of Canadian expansion plans in 2026.

“We’re early stages in Canada. Excited to make the announcement . . . that our expansion is officially going to start in the Canadian market in 2026. And while that doesn’t hold the total addressable market that in Mexico or obviously the US does, the car parc is very similar in Canada. We feel Like that is an untapped market from from retail and DIFM standpoint in terms of our scale and size and ability to build the right teams, especially off that Vast platform that’s such an amazing people platform for us in Canada. So excited about all those markets and really excited about our target for 2026.”

Year-to-Date Financial Results

“As a result of our year-to-date performance and updated outlook for the remainder of 2025, we are raising our full-year 2025 comparable store sales guidance to a range of 4.0% to 5.0%,” said Beckham. “We remain confident in the underlying demand drivers of our industry and our team’s ability to grow our share of the market by delivering industry- leading customer service.”

Sales for the first nine months of 2025 increased $755 million, or 6%, to $13.37 billion from $12.61 billion for the same period one year ago. Gross profit for the first nine months of 2025 increased 7% to $6.89 billion (or 51.5% of sales) from $6.45 billion (or 51.2% of sales) for the same period one year ago. SG&A for the first nine months of 2025 increased 8% to $4.26 billion (or 31.8% of sales) from $3.94 billion (or 31.2% of sales) for the same period one year ago. Operating

income for the first nine months of 2025 increased 5% to $2.63 billion (or 19.7% of sales) from $2.51 billion (or 19.9% of sales) for the same period one year ago.

Net income for the first nine months of 2025 increased $97 million, or 5%, to $1.93 billion (or 14.5% of sales) from $1.84 billion (or 14.6% of sales) for the same period one year ago.

Diluted earnings per common share for the first nine months of 2025 increased 8% to $2.25 on 858 million shares versus $2.08 on 884 million shares for the same period one year ago.

Third Quarter Comparable Store Sales Results

Comparable store sales are calculated based on the change in sales for U.S. stores open at least one year and exclude sales of specialty machinery, sales to independent parts stores, and sales to team members, as well as sales from Leap Day for the nine months ended September 30, 2024.

Online sales for ship-to-home orders and pick-up-in-store orders for U.S. stores open at least one year are included in the comparable store sales calculation.

Comparable store sales increased 5.6% for the third quarter ended September 30, 2025, on top of 1.5% for the same period one year ago. Comparable store sales increased 4.5% for the nine months ended September 30, 2025, on top of 2.4% for the same period one year ago.

Share Repurchase Program

During the third quarter ended September 30, 2025, the company repurchased 4.3 million shares of its common stock, at an average price per share of $98.08, for a total investment of $420 million. During the first nine months of 2025, the Company repurchased 17.6 million shares of its common stock, at an average price per share of $90.95, for a total investment of $1.60 billion. Excise tax on shares repurchased, assessed at one percent of the fair market value of shares repurchased, was $16.0 million for the nine months ended September 30, 2025. Subsequent to the end of the third quarter and through the date of this release, the Company repurchased an additional 0.8 million shares of its common stock, at an average price per share of $102.96, for a total investment of $79 million. The Company has repurchased a total of 1.46 billion 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 $18.46, for a total aggregate investment of $26.93 billion. As of the date of this release, the Company had approximately $820 million remaining under its current share repurchase authorization.

Updated Full-Year 2025 Guidance

The table below outlines the Company’s updated guidance for selected full-year 2025 financial data:

	For the Year Ending
	December 31, 2025
Net, new store openings	200 to 210
Comparable store sales	4.0% to 5.0%
Total revenue	$17.6 billion to $17.8 billion
Gross profit as a percentage of sales	51.2% to 51.7%
Operating income as a percentage of sales	19.2% to 19.7%
Effective income tax rate	21.6%
Diluted earnings per share (1)	$2.90 to $3.00
Net cash provided by operating activities	$2.6 billion to $3.0 billion
Capital expenditures	$1.1 billion to $1.2 billion
Free cash flow (2)	$1.5 billion to $1.8 billion

During the third quarter, the company accelerated the payment timing of transferable renewable energy tax credits that were originally planned to settle in early 2026, resulting in a reduction to its full-year net cash provided by operating activities guidance to the updated range of $2.6 billion to $3.0 billion. The company has also revised its expected full-year income tax rate from 22.3% to 21.6%, reflecting incremental benefits received from the accelerated payment.

(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                  December 31, 2025
(in millions)
Net cash provided by operating activities		$	2,625	to	$	3,035
Less:	Capital expenditures		1,100	to		1,200
	Excess tax benefit from share-based compensation payments		25	to	35
Free cash flow		$	1,500	to	$	1,800

Earnings Conference Call Information

O’Reilly Automotive hosted a conference call on Thursday, October 23, 2025, 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.” 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 674813. A replay of the conference call will be available on the Company’s website through Thursday, October 22, 2026.

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, 2025, the Company operated 6,538 stores across 48 U.S. states, Puerto Rico, Mexico, and Canada.