O Reilly Automotive Inc

Company facts

Industry

Retail-Auto & Home Supply Stores

Headquarters

Springfield, Missouri

Most recent report

8-K, filed Aug 14, 2026

Filings on record

1,001+ filings

On EDGAR

CIK 898173

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Jun 2026 10-Q

SECSift found 3 of 11 sections worth reading, with 4 positive, 8 notable, and 2 negative flags.

• Financial Statements (Item 1)

  Core quarterly financials with aggressive buyback-funded deficit.
  Notable

  • Company issued $850M of new 5.100% Senior Notes due 2036 in March 2026 to help fund buybacks.
  • Board added $2B to buyback authorization in June 2026, total now $31.8B; $2B remaining.
  Negative

  • Supplier finance obligations steady at $5.1B, a large off-balance-sheet liability in accounts payable.

• Management's Discussion (Item 2)

  Strong Q2 results with all metrics up; free cash flow nearly doubled.
  Positive

  • Sales increased 8% to $4.89B in Q2 2026, driven by 6.0% comparable store sales growth.
  • Gross margin held steady at 51.4% of sales in Q2 2026, despite customer mix shift to lower-margin pro channel.
  • Effective tax rate rose to 22.6% in Q2 2026 from 22.4%, due to lower excess tax benefits from share-based comp.
  • Net income rose 7% to $715M in Q2 2026; diluted EPS up 10% to $0.86 as share count fell 3%.
  Notable

  • Net store openings slowed to 51 in Q2 2026 vs 67 a year ago; full-year target remains 225-235.
  • DIY transaction counts decreased in Q2 2026, partially offsetting gains from higher ticket values and pro growth.
  • Consolidated leverage ratio rose to 2.07x from 1.95x, but remains well under the 3.50x covenant limit.

• Market Risk (Item 3)

  Commercial paper more than doubled to $1.3B, significantly raising short-term debt risk.
  Notable

  • Interest rate sensitivity doubled: a 10% rate increase would hit pre-tax earnings by $5.5M, up from $2.2M.
  • Mexican peso net assets rose to $594.7M; a 10% depreciation would cause a $54.1M translation loss.
  • Canadian net assets increased to $189.1M; a 10% depreciation would cause a $17.2M translation loss.
  Negative

  • Commercial paper soared from $525M to $1.3B in Q2 2026, more than doubling short-term debt.

What changed: Jun 2026 vs. Mar 2026

About 1% of ORLY's Jun 2026 10-Q is new information. 3 paragraphs were added, 101 changed, and 4 removed. Below are the most important lines SECSift identified.

• Item 1 41
• Item 2 25
• Item 3 5
• Item 6 2
• Item 4 1
• Item 1A 1
• Item 5 1