O’Reilly Automotive, Inc., a leading retailer in the automotive aftermarket industry, announced record revenue and earnings for its first quarter ended March 31, 2026.

First Quarter Financial Results

Brad Beckham, O’Reilly’s CEO, commented, “We are pleased to report a strong start to 2026, highlighted by an 8.1% increase in comparable store sales and a 16% increase in our first quarter diluted earnings per share. Team O’Reilly delivered comparable store sales results exceeding our expectations in both professional and DIY, with double-digit growth in our professional business and mid-single digit growth in DIY.

“Our ability to drive productivity in our business and translate robust sales growth into a 14% increase in operating profit is the direct result of our Team’s focus on prudent expense management. I would like to thank all of our Team Members for their incredible hard work in the first quarter and their relentless focus on providing unsurpassed service to our customers each and every day. We look forward to the opportunities we have to grow our market share in 2026 and are encouraged by the stable demand backdrop in our industry.”

Sales for the first quarter of 2026 increased $424 million, or 10%, to $4.56 billion from $4.14 billion for the same period one year ago. Gross profit for the first quarter of 2026 increased 11% to $2.35 billion (or 51.5% of sales) from $2.12 billion (or 51.3% of sales) for the same period one year ago. Selling, general and administrative expenses for the first quarter of 2026 increased 9% to $1.51 billion (or 33.0% of sales) from $1.38 billion (or 33.4% of sales) for the same period one year ago. Operating income for the first quarter of 2026 increased 14% to $842 million (or 18.5% of sales) from $741 million (or 17.9% of sales) for the same period one year ago.

Figures in USD>

Net income for the first quarter of 2026 increased $66 million, or 12%, to $604 million (or 13.2% of sales) from $538 million (or 13.0% of sales) for the same period one year ago. Diluted earnings per common share for the first quarter of 2026 increased 16% to $0.72 on 843 million shares versus $0.62 on 864 million shares for the same period one year ago.

First 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. 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 8.1% for the first quarter ended March 31, 2026, on top of 3.6% for the same period one year ago.

Share Repurchase Program

During the first quarter ended March 31, 2026, the Company repurchased 10.0 million shares of its common stock, at an average price per share of $92.45, for a total investment of $923 million. Excise tax on shares repurchased, assessed at one percent of the fair market value of shares repurchased, was $9.2 million for the three months ended March 31, 2026. Subsequent to the end of the first quarter and through the date of this release, the Company repurchased an additional 3.6 million shares of its common stock, at an average price per share of $92.83, for a total investment of $338 million.

The Company has repurchased a total of 1.48 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 $19.38, for a total aggregate investment of $28.61 billion. As of the date of this release, the Company had approximately $1.14 billion remaining under its current share repurchase authorization.

Updated Full-Year 2026 Guidance

The table below outlines the Company’s updated guidance for selected full-year 2026 financial data:

	For the Year Ending
	December 31, 2026
Net, new store openings	225 to 235
Comparable store sales	3.0% to 5.0%
Total revenue	$18.7 billion to $19.0 billion
Gross profit as a percentage of sales	51.5% to 52.0%
Operating income as a percentage of sales	19.3% to 19.8%
Effective income tax rate	22.6%
Diluted earnings per share (1)	$3.15 to $3.25
Net cash provided by operating activities	$3.1 billion to $3.5 billion
Capital expenditures	$1.3 billion to $1.4 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, 2026
Net cash provided by operating activities		$	3,110	to	$	3,520
Less:	Capital expenditures		1,300	to		1,400
	Excess tax benefit from share-based compensation payments		10	to	20
Free cash flow		$	1,800	to	$	2,100

Earnings Conference Call Information

The Company hosted a conference call on Thursday, April 30, 2026, at 10:00 a.m. Central Time to discuss its results as well as future expectations. A replay of the conference call will be available on the Company’s website at www.OReillyAuto.com through Thursday, April 29, 2027.