O'Reilly Automotive, Inc. reported a revenue increase of 4% for the first quarter of 2025, reaching $4.14 billion compared to $3.98 billion in the same period last year. The company's net income for the quarter was $538.5 million, a decrease of 2% from $547.2 million in the prior year. Earnings per share rose to $9.35, up from $9.20, reflecting a reduction in the number of shares outstanding. The gross profit margin remained stable at 51.3% of sales, slightly up from 51.2% in the previous year, driven by improved acquisition costs despite a higher sales mix from professional service providers, which typically yield lower margins.
In terms of operational metrics, comparable store sales increased by 3.6%, supported by higher average ticket values and transaction costs. The company opened 38 new stores during the quarter, contributing to a total of 6,298 stores across the U.S., Puerto Rico, Canada, and Mexico. The increase in sales was also bolstered by a $73 million rise in revenue from new stores opened in 2024 and 2025. However, the company faced a slight headwind from the previous year's Leap Day, which provided an additional day of sales.
O'Reilly's selling, general, and administrative expenses (SG&A) rose by 8% to $1.38 billion, primarily due to increased staffing and operational costs associated with the expanded store count. This increase in SG&A as a percentage of sales was attributed to enhancements in store-level pay plans and inflationary pressures. The company's operating income for the quarter was $741 million, down from $752 million, reflecting the impact of rising expenses.
The company maintained a strong liquidity position, with cash and cash equivalents totaling $191.2 million as of March 31, 2025, up from $130.2 million at the end of 2024. O'Reilly's cash flow from operating activities increased to $755.1 million, compared to $704.2 million in the prior year. The company also reported a decrease in cash used for investing activities, primarily due to the absence of significant acquisitions like the previous year's purchase of Vast Auto. Looking ahead, O'Reilly plans to continue its growth strategy with an anticipated 200 to 210 new store openings in 2025, while remaining focused on enhancing its dual market strategy and customer service initiatives.
About O REILLY AUTOMOTIVE INC
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