EX-99.12orly-20260204xex99d1.htmEX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE

O’REILLY AUTOMOTIVE, INC. REPORTS FOURTH QUARTER AND

FULL-YEAR 2025 RESULTS

●

Fourth quarter comparable store sales growth of 5.6%, full-year increase of 4.7%

●

13% increase in fourth quarter diluted earnings per share to $0.71, full-year increase of 10% to $2.97

●

$2.8 billion net cash provided by operating activities in 2025

Springfield, MO, February 4, 2026 – O’Reilly Automotive, Inc. (the “Company” or “O’Reilly”) (Nasdaq: ORLY), a leading retailer in the automotive aftermarket industry, today announced record revenue and earnings for its fourth quarter and full-year ended December 31, 2025. The results represent 33 consecutive years of comparable store sales growth and record revenue and operating income for O’Reilly since becoming a public company in April of 1993.

4th Quarter Financial Results

Brad Beckham, O’Reilly’s CEO, commented, “I would like to thank our over 93,000 Team Members for their tremendous hard work and commitment while delivering a strong finish to 2025. Our Team continues to drive share gains on both sides of our business through excellent customer service and industry-leading parts availability, resulting in T1our fourth quarter comparable store sales growth of 5.6%. Our top-line results, coupled with strong gross margin performance, drove a 12% increase in operating profit dollars and a 13% increase in diluted earnings per share for the fourth quarter. We are pleased with our Team’s ability to capitalize on the investments we are making in our business and manage operating costs to provide exceptional customer service and capture market share; however, T2SG&A expenses again exceeded our expectations in the fourth quarter due to pressure from heightened inflation in team member health care and casualty claim costs.

We remain intensely focused on managing expenses and mitigating these cost pressures but will always prioritize delivering the service levels and parts availability in our stores that are critical to winning share and driving industry-leading results.”

Sales for the fourth quarter ended December 31, 2025, increased $319 million, or 8%, to $4.41 billion from $4.10 billion for the same period one year ago. T3Gross profit for the fourth quarter increased 9% to $2.29 billion (or 51.8% of sales) from $2.10 billion (or 51.3% of sales) for the same period one year ago. Selling, general and administrative expenses (“SG&A”) for the fourth quarter increased 7% to $1.46 billion (or 33.0% of sales) from $1.36 billion (or 33.3% of sales) for the same period one year ago. Operating income for the fourth quarter increased 12% to $829 million (or 18.8% of sales) from $739 million (or 18.0% of sales) for the same period one year ago.

Net income for the fourth quarter ended December 31, 2025, increased $54 million, or 10%, to $605 million (or 13.7% of sales) from $551 million (or 13.5% of sales) for the same period one year ago. Diluted earnings per common share for the fourth quarter increased 13% to $0.71 on 848 million shares versus $0.63 on 870 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.

Full-Year Financial Results

Mr. Beckham concluded, “Thanks to our Team’s dedication to providing unsurpassed levels of customer service, 2025 is now O’Reilly’s 33rd consecutive year of annual comparable store sales growth and record revenue and operating income. Our full-year comparable store sales result of 4.7% was at the high end of our revised guidance range of 4.0% to

5.0%. This solid top-line performance translated into a full-year earnings per share increase of 10%. Team O’Reilly also achieved our expansion targets during 2025, T4opening 207 net, new stores in the U.S., Mexico and Canada, and a new, state-of-the-art greenfield distribution center in Virginia that unlocks exciting store growth opportunities in the mid-Atlantic region. I would like to congratulate Team O’Reilly on their strong performance in 2025, and we look forward to continuing our track record of long-term profitable growth in 2026.”

Sales for the year ended December 31, 2025, increased $1.07 billion, or 6%, to $17.78 billion from $16.71 billion for the same period one year ago. Gross profit for the year ended December 31, 2025, increased 7% to $9.17 billion (or 51.6% of sales) from $8.55 billion (or 51.2% of sales) for the same period one year ago. SG&A for the year ended December 31, 2025, increased 8% to $5.71 billion (or 32.1% of sales) from $5.30 billion (or 31.7% of sales) for the same period one year ago. Operating income for the year ended December 31, 2025, increased 6% to $3.46 billion (or 19.5% of sales) from $3.25 billion (or 19.5% of sales) for the same period one year ago.

Net income for the year ended December 31, 2025, increased $152 million, or 6%, to $2.54 billion (or 14.3% of sales) from $2.39 billion (or 14.3% of sales) for the same period one year ago. Diluted earnings per common share for the year ended December 31, 2025, increased 10% to $2.97 on 856 million shares versus $2.71 on 881 million shares for the same period one year ago.

4th Quarter and Full-Year 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 year ended December 31, 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 fourth quarter ended December 31, 2025, on top of 4.4% for the same period one year ago. Comparable store sales increased 4.7% for the year ended December 31, 2025, on top of 2.9% for the same period one year ago.

Share Repurchase Program

T5During the fourth quarter ended December 31, 2025, the Company repurchased 5.2 million shares of its common stock, at an average price per share of $96.69, for a total investment of $500 million. During the year ended December 31, 2025, the Company repurchased 22.7 million shares of its common stock, at an average price per share of $92.26, for a total investment of $2.10 billion. Excise tax on shares repurchased, assessed at one percent of the fair market value of shares repurchased, was $21.0 million for the year ended December 31, 2025. Subsequent to the end of the fourth quarter and through the date of this release, the Company repurchased an additional 1.4 million shares of its common stock, at an average price per share of $93.86, for a total investment of $134 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 $18.77, for a total aggregate investment of $27.49 billion. As of the date of this release, the Company had approximately $2.26 billion remaining under its current share repurchase authorizations.

Full-Year 2026 Guidance

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

For the Year Ending

December 31, 2026

G1Net, new store openings

225 to 235

G2Comparable store sales

3.0% to 5.0%

G3Total revenue

$18.7 billion to $19.0 billion

G4Gross profit as a percentage of sales

51.5% to 52.0%

G5Operating income as a percentage of sales

19.2% to 19.7%

G6Effective income tax rate

22.6%

G7Diluted earnings per share (1)

$3.10 to $3.20

G8Net cash provided by operating activities

$3.1 billion to $3.5 billion

G9Capital expenditures

$1.3 billion to $1.4 billion

G10Free 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

3,520

Less:

Capital expenditures

1,300

1,400

Excess tax benefit from share-based compensation payments

Free cash flow

1,800

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, February 5, 2026, 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 873967. A replay of the conference call will be available on the Company’s website through Thursday, February 4, 2027.

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 December 31, 2025, the Company operated 6,585 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,”

“guidance,” “target,” or similar words. In addition, statements contained within this press release that are not historical facts are forward-looking statements, such as statements discussing, among other things, expected growth, store development, integration and expansion strategy, business strategies, future revenues, and future performance. These forward-looking statements are based on estimates, projections, beliefs, and assumptions and are not guarantees of future events and results. Such statements are subject to risks, uncertainties, and assumptions, including, but not limited to, the economy in general; inflation; consumer debt levels; product demand; a public health crisis; the market for auto parts; competition; weather; T6trade disputes and changes in trade policies, including the imposition of new or increased tariffs; availability of key products and supply chain disruptions; business interruptions, including terrorist activities, war and the threat of war; failure to protect our brand and reputation; challenges in international markets; volatility of the market price of our common stock; our increased debt levels; credit ratings on public debt; damage, failure, or interruption of information technology systems, including information security and cyber-attacks; historical growth rate sustainability; our ability to hire and retain qualified employees; risks associated with the performance of acquired businesses; and governmental regulations.

Actual results may materially differ from anticipated results described or implied in these forward-looking statements. Please refer to the “Risk Factors” section of the annual report on Form 10-K for the year ended December 31, 2024, and subsequent Securities and Exchange Commission filings, for additional factors that could materially affect the Company’s financial performance. Forward-looking statements speak only as of the date they were made, and the Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law.

For further information contact:

Investor Relations Contacts

Leslie Skorick (417) 874-7142

Eric Bird (417) 868-4259

Media Contact

Sonya Cox (417) 829-5709

O’REILLY AUTOMOTIVE, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except share data)

December 31, 2025

December 31, 2024

(Unaudited)

(Note)

Assets

Current assets:

Cash and cash equivalents

193,793

130,245

Accounts receivable, net

389,793

356,839

Amounts receivable from suppliers

159,900

139,091

Inventory

5,731,385

5,095,804

Other current assets

269,406

117,916

Total current assets

6,744,277

5,839,895

Property and equipment, at cost

10,222,249

9,192,254

Less: accumulated depreciation and amortization

3,964,824

3,587,098

Net property and equipment

6,257,425

5,605,156

Operating lease, right-of-use assets

2,391,150

2,324,638

Goodwill

948,208

930,161

Other assets, net

197,193

193,891

Total assets

16,538,253

14,893,741

Liabilities and shareholders’ deficit

Current liabilities:

Accounts payable

7,103,684

6,524,811

Self-insurance reserves

297,304

149,387

Accrued payroll

119,603

107,495

Accrued benefits and withholdings

240,072

199,593

Income taxes payable

13,957

6,274

Current portion of operating lease liabilities

439,907

419,213

Other current liabilities

561,294

876,732

Total current liabilities

8,775,821

8,283,505

Long-term debt

6,016,904

5,520,932

Operating lease liabilities, less current portion

2,034,688

1,980,705

Deferred income taxes

211,210

247,599

Other liabilities

262,982

231,961

Shareholders’ equity (deficit):

Common stock, $0.01 par value:

Authorized shares – 1,250,000,000

Issued and outstanding shares –

841,909,238 as of December 31, 2025, and

862,232,760 as of December 31, 2024

8,419

8,622

Additional paid-in capital

1,530,292

1,454,518

Retained deficit

(2,328,817)

(2,791,288)

Accumulated other comprehensive income (loss)

26,754

(42,813)

Total shareholders’ deficit

(763,352)

(1,370,961)

Total liabilities and shareholders’ deficit

16,538,253

14,893,741

Note: The balance sheet at December 31, 2024, has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by United States generally accepted accounting principles for complete financial statements.

O’REILLY AUTOMOTIVE, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(In thousands, except per share data)

For the Three Months Ended

For the Year Ended

December 31,

2025

2024

2025

2024

(Unaudited)

(Note)

Sales

4,414,314

4,095,601

17,781,992

16,708,479

Cost of goods sold, including warehouse and distribution expenses

2,128,142

1,994,569

8,607,851

8,153,990

Gross profit

2,286,172

2,101,032

9,174,141

8,554,489

Selling, general and administrative expenses

1,457,563

1,362,382

5,713,529

5,303,332

Operating income

828,609

738,650

3,460,612

3,251,157

Other income (expense):

Interest expense

(60,597)

(55,403)

(235,064)

(222,548)

Interest income

1,994

2,056

7,323

7,295

Other, net

709

(106)

7,300

9,160

Total other expense

(57,894)

(53,453)

(220,441)

(206,093)

Income before income taxes

770,715

685,197

3,240,171

3,045,064

Provision for income taxes

165,482

134,067

701,962

658,384

Net income

605,233

551,130

2,538,209

2,386,680

Earnings per share-basic:

Earnings per share

0.72

0.64

2.98

2.73

Weighted-average common shares outstanding – basic

844,239

865,101

851,472

875,082

Earnings per share-assuming dilution:

Earnings per share

0.71

0.63

2.97

2.71

Weighted-average common shares outstanding – assuming dilution

848,420

869,956

855,919

880,572

Note: The income statement for the year ended December 31, 2024, has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by United States generally accepted accounting principles for complete financial statements.

O’REILLY AUTOMOTIVE, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

For the Year Ended

December 31,

2025

2024

(Unaudited)

(Note)

Operating activities:

Net income

2,538,209

2,386,680

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation and amortization of property, equipment and intangibles

511,230

461,892

Amortization of debt discount and issuance costs

7,379

6,613

Deferred income taxes

(37,544)

(50,238)

Share-based compensation programs

35,115

28,931

Other

11,069

6,360

Changes in operating assets and liabilities:

Accounts receivable

(35,505)

30,495

Inventory

(604,537)

(403,886)

Accounts payable

576,413

421,364

Income taxes payable

4,537

(8,690)

Other

(244,373)

170,055

Net cash provided by operating activities

2,761,993

3,049,576

Investing activities:

Purchases of property and equipment

(1,168,815)

(1,023,387)

Proceeds from sale of property and equipment

30,845

16,350

Return of tax credit equity investments

—

1,490

Other, including acquisitions, net of cash acquired

(14,386)

(161,258)

Net cash used in investing activities

(1,152,356)

(1,166,805)

Financing activities:

Proceeds from borrowings on revolving credit facility

—

30,000

Payments on revolving credit facility

—

(30,000)

Net proceeds (payments) of commercial paper

488,786

(547,604)

Proceeds from the issuance of long-term debt

—

498,910

Payment of debt issuance costs

(3,997)

(4,076)

Payment of excise tax on share repurchases

(17,012)

(28,830)

Repurchases of common stock

(2,096,962)

(2,076,529)

Net proceeds from issuance of common stock

80,823

128,981

Other

(433)

(569)

Net cash used in financing activities

(1,548,795)

(2,029,717)

Effect of exchange rate changes on cash

2,706

(1,941)

Net increase (decrease) in cash and cash equivalents

63,548

(148,887)

Cash and cash equivalents at beginning of the period

130,245

279,132

Cash and cash equivalents at end of the period

193,793

130,245

Supplemental disclosures of cash flow information:

Income taxes paid

1,067,524

640,426

Interest paid, net of capitalized interest

226,752

209,094

Note: The cash flow statement for the year ended December 31, 2024, has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by United States generally accepted accounting principles for complete financial statements.

O’REILLY AUTOMOTIVE, INC. AND SUBSIDIARIES

SELECTED FINANCIAL INFORMATION

(Unaudited)

For the Year Ended

December 31,

Adjusted Debt to EBITDAR:

2025

2024

(In thousands, except adjusted debt to EBITDAR ratio)

GAAP debt

6,016,904

5,520,932

Add:

Letters of credit

155,642

127,310

Unamortized discount and debt issuance costs

23,096

29,068

Six-times rent expense

2,942,142

2,715,174

Adjusted debt

9,137,784

8,392,484

GAAP net income

2,538,209

2,386,680

Add:

Interest expense

235,064

222,548

Provision for income taxes

701,962

658,384

Depreciation and amortization

511,230

461,892

Share-based compensation expense

35,115

28,931

Rent expense (i)

490,357

452,529

EBITDAR

4,511,937

4,210,964

Adjusted debt to EBITDAR

2.03

1.99

(i)

The table below outlines the calculation of Rent expense and reconciles Rent expense to Total lease cost, per ASC 842, the most directly comparable GAAP financial measure, for the year ended December 31, 2025 and 2024 (in thousands):

For the Year Ended

December 31,

2025

2024

Total lease cost, per ASC 842

592,121

543,495

Less:

Variable non-contract operating lease components, related to property taxes and insurance

101,764

90,966

Rent expense

490,357

452,529

December 31,

2025

2024

Selected Balance Sheet Ratios:

Inventory turnover (1)

1.6

1.7

Average inventory per store (in thousands) (2)

870

799

Accounts payable to inventory (3)

123.9

128.0

For the Three Months Ended

For the Year Ended

December 31,

2025

2024

2025

2024

Reconciliation of Free Cash Flow (in thousands):

Net cash provided by operating activities

633,492

624,487

2,761,993

3,049,576

Less:

Capital expenditures

269,032

290,471

1,168,815

1,023,387

Excess tax benefit from share-based compensation payments

2,214

4,827

29,928

39,871

Return of tax credit equity investments

—

(1,490)

—

(1,490)

Free cash flow

362,246

330,679

1,563,250

1,987,808

For the Three Months Ended

For the Year Ended

December 31,

2025

2024

2025

2024

Revenue Disaggregation (in thousands):

Sales to do-it-yourself customers

2,180,418

2,096,829

8,765,647

8,473,041

Sales to professional service provider customers

2,149,531

1,905,539

8,651,746

7,836,283

Other sales and sales adjustments

84,365

93,233

364,599

399,155

Total sales

4,414,314

4,095,601

17,781,992

16,708,479

For the Three Months Ended

For the Year Ended

December 31,

2025

2024

2025

2024

Store Count:

Beginning domestic store count

6,406

6,187

6,265

6,095

New stores opened

182

170

Stores closed

—

Ending domestic store count

6,447

6,265

6,447

6,265

Beginning Mexico store count

107

New stores opened

Stores closed

—

Ending Mexico store count

112

Beginning Canada store count

—

New stores opened

—

Stores acquired

—

Stores closed

—

(1)

—

Ending Canada store count

Total ending store count

6,585

6,378

6,585

6,378

For the Three Months Ended

For the Year Ended

December 31,

2025

2024

2025

2024

Store and Team Member Information:

Total employment

93,072

93,176

Square footage (in thousands) (4)

51,515

48,809

Sales per weighted-average square foot (4)(5)

83.95

82.70

345.73

342.32

Sales per weighted-average store (in thousands) (4)(6)

670

642

2,728

2,642

(1)

Calculated as cost of goods sold for the last 12 months divided by average inventory. Average inventory is calculated as the average of inventory for the trailing four quarters used in determining the denominator.

(2)

Calculated as inventory divided by store count at the end of the reported period.

(3)

Calculated as accounts payable divided by inventory.

(4)

Represents O’Reilly’s U.S. and Puerto Rico operations only.

(5)

Calculated as sales less jobber sales, divided by weighted-average square footage. Weighted-average square footage is determined by weighting store square footage based on the approximate dates of store openings, acquisitions, expansions, or closures.

(6)

Calculated as sales less jobber sales, divided by weighted-average stores. Weighted-average stores is determined by weighting stores based on their approximate dates of openings, acquisitions, or closures.

Mentions · how they’re counted

Category	Underlined	Word counter	Model’s count
AI AI, artificial intelligence, generative AI, machine learning, large language model, LLM	0	0	0
Layoffs layoffs, RIF, headcount reduction, workforce optimization, restructuring	0	—	0
Recession recession, downturn, contraction, slowdown	0	0	0
Tariffs tariff, trade war, trade barriers, trade restrictions, trade policy	1	1	1
Buybacks share repurchase, buyback program	5	—	1

Underlines use the same word lists the scores use. AI, recession and tariffs follow Palanor’s word counter, so those counts match it exactly on the same text. Layoffs and buybacks use the terms the model was given. The model’s count is an estimate by meaning, not by string, so it can differ from the underlines.

Not placed in the text

These quotes are stored with a score, but no passage here matches them closely enough to highlight. Rather than point at the wrong passage, they are listed as stored.

Theme · 2026 guidance

“For the Year Ending December 31, 2026, Total revenue $18.7 billion to $19.0 billion”

Source: SEC EDGAR · public domain · Highlights by Palanor