O'Reilly Automotive, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>O'Reilly Automotive, Inc. filed its Q1 2024 10-Q, detailing financial performance and balance sheet items.</b>

AI Summary

O REILLY AUTOMOTIVE INC (ORLY) filed a Quarterly Report (10-Q) with the SEC on May 9, 2024. O'Reilly Automotive, Inc. reported financial results for the first quarter ended March 31, 2024. The filing includes detailed financial data for the period, such as retained earnings, additional paid-in capital, and accumulated other comprehensive income. Key balance sheet items like common stock, restricted stock, and employee stock options are detailed for the quarter. Information regarding credit facilities, including unsecured debt and commercial paper, is provided as of March 31, 2024. The company's business address is 233 S Patterson Ave, Springfield, MO 65802, with a phone number of 417-829-5878.

Why It Matters

For investors and stakeholders tracking O REILLY AUTOMOTIVE INC, this filing contains several important signals. This 10-Q filing provides investors with a detailed look at O'Reilly's financial health and operational status as of the end of the first quarter of 2024. Understanding the specifics of their capital structure, debt, and equity accounts is crucial for assessing the company's financial stability and future growth potential.

Risk Assessment

Risk Level: low — O REILLY AUTOMOTIVE INC shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain any immediate red flags or unusual disclosures, indicating a low level of immediate risk.

Analyst Insight

Monitor future filings for trends in revenue segments (DIY vs. Professional) and changes in debt levels to assess ongoing business performance.

Key Numbers

• 2024-03-31 — Report Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-05-09 — Filing Date (FILED AS OF DATE)
• 2024-01-01 — Q1 2024 Start Date (CommonStockMember 2024-01-01 2024-03-31)
• 2023-01-01 — Q1 2023 Start Date (CommonStockMember 2023-01-01 2023-03-31)

Key Players & Entities

• O REILLY AUTOMOTIVE INC (company) — FILER
• 233 S PATTERSON AVE (address) — BUSINESS ADDRESS
• SPRINGFIELD (location) — BUSINESS ADDRESS CITY
• MO (location) — BUSINESS ADDRESS STATE
• 65802 (postal_code) — BUSINESS ADDRESS ZIP
• 417-829-5878 (phone_number) — BUSINESS PHONE

FAQ

Industry Context

O'Reilly Automotive operates in the retail auto and home supply stores sector, serving both professional service providers and do-it-yourself (DIY) customers.

Regulatory Implications

The company is subject to standard SEC reporting requirements for publicly traded companies, including the filing of quarterly (10-Q) and annual (10-K) reports.

What Investors Should Do

1. Review the full 10-Q for detailed financial statements and management's discussion and analysis.
2. Analyze segment revenue data (DIY vs. Professional) to understand customer demand drivers.
3. Examine debt and credit facility details for insights into the company's liquidity and financing strategies.

Key Dates

• 2024-03-31: Quarterly Period End — Financial results for Q1 2024 are reported.
• 2024-05-09: Filing Date — The 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This filing represents the first quarterly report for O'Reilly Automotive in fiscal year 2024, following the annual report filed previously.

Key Financial Figures

• $0.01 — ge on which Registered Common Stock, $0.01 par value ORLY The Nasdaq Stock Mark

Filing Documents

• orly-20240331x10q.htm (10-Q) — 1169KB
• orly-20240331xex21d1.htm (EX-21.1) — 9KB
• orly-20240331xex31d1.htm (EX-31.1) — 17KB
• orly-20240331xex31d2.htm (EX-31.2) — 17KB
• orly-20240331xex32d1.htm (EX-32.1) — 8KB
• orly-20240331xex32d2.htm (EX-32.2) — 8KB
• orly-20240331x10q003.jpg (GRAPHIC) — 10KB
• 0000898173-24-000022.txt (&nbsp;) — 5752KB
• orly-20240331.xsd (EX-101.SCH) — 45KB
• orly-20240331_cal.xml (EX-101.CAL) — 49KB
• orly-20240331_def.xml (EX-101.DEF) — 171KB
• orly-20240331_lab.xml (EX-101.LAB) — 378KB
• orly-20240331_pre.xml (EX-101.PRE) — 303KB
• orly-20240331x10q_htm.xml (XML) — 844KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION 2

- FINANCIAL STATEMENTS (UNAUDITED)

ITEM 1 - FINANCIAL STATEMENTS (UNAUDITED) 2 Condensed Consolidated Balance Sheets 2 Condensed Consolidated Statements of Income 3 Condensed Consolidated Statements of Comprehensive Income 4 Condensed Consolidated Statements of Shareholders' Equity (Deficit) 5 Condensed Consolidated Statements of Cash Flows 6 Notes to Condensed Consolidated Financial Statements 7

- MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

ITEM 2 - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 17

- QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 3 - QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 23

- CONTROLS AND PROCEDURES

ITEM 4 - CONTROLS AND PROCEDURES 24

- OTHER INFORMATION

PART II - OTHER INFORMATION 25

- LEGAL PROCEEDINGS

ITEM 1 - LEGAL PROCEEDINGS 25

- RISK FACTORS

ITEM 1A - RISK FACTORS 25

- UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

ITEM 2 - UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 25

- OTHER INFORMATION

ITEM 5 - OTHER INFORMATION 25

- EXHIBITS

ITEM 6 - EXHIBITS 26 SIGNATURE PAGES 27 1

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements O'REILLY AUTOMOTIVE, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except share data) March 31, 2024 December 31, 2023 (Unaudited) (Note) Assets Current assets: Cash and cash equivalents $ 89,264 $ 279,132 Accounts receivable, net 437,821 375,049 Amounts receivable from suppliers 139,267 140,443 Inventory 4,805,164 4,658,367 Other current assets 128,181 105,311 Total current assets 5,599,697 5,558,302 Property and equipment, at cost 8,555,556 8,312,367 Less: accumulated depreciation and amortization 3,360,351 3,275,387 Net property and equipment 5,195,205 5,036,980 Operating lease, right-of-use assets 2,227,783 2,200,554 Goodwill 1,009,857 897,696 Other assets, net 180,512 179,463 Total assets $ 14,213,054 $ 13,872,995 Liabilities and shareholders' deficit Current liabilities: Accounts payable $ 6,117,068 $ 6,091,700 Self-insurance reserves 130,974 128,548 Accrued payroll 127,704 138,122 Accrued benefits and withholdings 174,125 174,650 Income taxes payable 147,645 7,860 Current portion of operating lease liabilities 399,245 389,536 Other current liabilities 791,633 730,937 Total current liabilities 7,888,394 7,661,353 Long-term debt 5,288,632 5,570,125 Operating lease liabilities, less current portion 1,900,200 1,881,344 Deferred income taxes 321,323 295,471 Other liabilities 205,703 203,980 Shareholders' equity (deficit): Common stock, $ 0.01 par value: Authorized shares – 245,000,000 Issued and outstanding shares – 58,982,123 as of March 31, 2024, and 59,072,792 as of December 31, 2023 590 591 Additional paid-in capital 1,410,756 1,352,275 Retained deficit ( 2,849,108 ) ( 3,131,532 ) Accumulated other comprehensive income 46,564 39,388 Total shareholders' deficit ( 1,391,198 ) ( 1,739,278 ) Total liabilities and shareholders' d

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View this 10-Q filing on SEC EDGAR