EarningsQ2 2026 Earnings Report

O'Reilly Auto (ORLY) Q2 2026 Earnings Report

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Previous Report: Q1 2026

MX:ORLY Q2 2026 EPS Results

Actual EPS$14.53

Consensus EPS$14.56

Beat/MissMissed by -$0.03

One Year Ago EPS$13.18

MX:ORLY Q2 2026 Revenue Results

Actual Revenue$82.65B

Expected Revenue$82.17B

Beat/MissBeat by +$472.39M

YoY Revenue Growth+8.11%

Earnings Announcement Details

QuarterQ2 2026

Date07/29/2026

TimeAfter Close

Conference CallWednesday, July 29, 2026

MX:ORLY Upcoming Earnings

O'Reilly Auto's next earnings date is estimated for October 28, 2026, based on past reporting schedules.

Q2 2026 Earnings Call Audio

MX:ORLY Q2 2026 Earnings Call

0:00 / 0:00

Q2 2026 Earnings Slide Deck

No slide deck is available for this earnings event.

Q2 2026 Earnings Call Summary

Q2 2026

Earnings Call Date:Jul 29, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call conveyed multiple strong operational and financial results — notably double-digit professional comps, solid comparable store sales (+6% Q2, +7% YTD), EPS growth, robust free cash flow, aggressive share repurchases, and continued store and DC investment. Management acknowledged near-term headwinds including moderation of same‑SKU inflation in H2, modest DIY transaction pressure, incremental SG&A and fuel cost impacts, and a modest rise in leverage from buybacks. Overall, the company emphasized confidence in execution and long-term market opportunity while prudently guiding for potential back‑half volatility.

Company Guidance

O'Reilly raised full‑year comparable store sales guidance to 4–6% (from 3–5%) after Q2 comps of +6% and YTD comps of +7% (professional comps ~10% in Q2; pro ticket counts mid‑single digits), noting same‑SKU inflation of 5.5% in Q2 that it expects to moderate to ~1–2% in H2 (Q3 toward the high end, Q4 lower); diluted EPS guidance was lifted to $3.20–$3.30. Management reiterated full‑year gross margin guidance of 51.5–52% (Q2 51.4%, YTD 51.5% — +11 bps YTD; midpoint ~+16 bps vs. 2025) and operating profit guidance of 19.3–19.8%; Q2 SG&A per store rose 4.8% and full‑year SG&A per‑store growth guidance was tightened to 3.5–4% (expect ≤4%), with Q2 deleveraging of ~9 bps but YTD operating margin expansion of 21 bps. Revenue is guided to $18.9–19.2B; free cash flow remains $1.8–2.1B (H1 FCF $1.5B vs $904M LY); capex is $1.3–1.4B (H1 $552M); inventory per store was $892k (+7% YoY, +2% vs YE25; targeting +5% by year‑end); AP-to‑inventory finished Q2 at 124% (target ~122% YE); adjusted debt/EBITDAR was 2.17x (vs 2.03x YE25). Share repurchases YTD totaled 34M shares for $3.1B (Q2: 17M shares at $90.40 for $1.5B), and the company remains on track for 225–235 net new stores in 2026 (110 YTD); management cautioned about weather volatility and the lapping of tariff‑driven price benefits but left H2 expectations intact.

Comparable Store Sales and Top-Line Growth

Q2 comparable store sales grew 6%; year-to-date comps up 7%; total sales growth over 9% YTD. Q2 outperformance across months (April strongest) and momentum into early Q3.

Earnings Growth

Diluted EPS increased 10% in Q2 and 13% for the first half of 2026 versus prior year; Q2 follows an 11% EPS growth in Q2 2025.

Professional Business Strength

Professional comparable store sales grew ~10% in Q2 (fourth consecutive quarter of double-digit comps); professional ticket count growth was mid-single digits and outpaced forecasts.

Same-SKU Inflation / Average Ticket

Same-SKU inflation contributed 5.5% to consolidated average ticket in Q2, driving average ticket strength and supporting DIY and pro sales gains.

Gross Margin Stability and Expansion Target

Q2 gross margin 51.4% (flat YoY). Full-year gross margin guidance maintained at 51.5%–52.0% (midpoint implies +16 bps vs 2025); YTD gross margin 51.5% (+11 bps YoY).

Operating Profit and SG&A Discipline

Operating margin expanded 21 basis points in H1 (split evenly between gross margin and SG&A leverage) driving a 10% increase in operating profit dollars. Full-year operating profit guidance reiterated at 19.3%–19.8%.

Strong Free Cash Flow and Capital Allocation

Free cash flow for H1 was $1.5B vs $904M prior year; full-year FCF guidance unchanged at $1.8B–$2.1B. YTD capex $552M with FY capex planned at $1.3B–$1.4B to support new stores and DC capacity.

Aggressive Share Repurchases

Repurchased 17M shares in Q2 at $90.40 average ($1.5B); YTD repurchases 34M shares for $3.1B, reflecting use of excess cash and temporary incremental borrowings.

Store Growth and Distribution Investment

Opened 110 net new stores YTD across U.S., Puerto Rico, Mexico and Canada; on track to open 225–235 net new stores in 2026. New 690k sq ft Atlanta DC operational to support Southeast expansion and import processing.

MX:ORLY Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change
Oct 28, 2026	2026 (Q3)	15.64 / -	14.36	―
Jul 29, 2026	2026 (Q2)	14.56 / 14.53	13.177	10.26% (+1.35)
Apr 29, 2026	2026 (Q1)	11.74 / 12.16	10.525	15.57% (+1.64)
Feb 04, 2026	2025 (Q4)	12.27 / 11.99	10.694	12.16% (+1.30)
Oct 22, 2025	2025 (Q3)	14.07 / 14.36	12.856	11.70% (+1.50)
Jul 23, 2025	2025 (Q2)	13.19 / 13.18	11.877	10.95% (+1.30)
Apr 23, 2025	2025 (Q1)	11.10 / 10.53	10.356	1.63% (+0.17)
Feb 05, 2025	2024 (Q4)	10.98 / 10.69	10.424	2.59% (+0.27)
Oct 23, 2024	2024 (Q3)	12.92 / 12.86	12.079	6.43% (+0.78)
Jul 24, 2024	2024 (Q2)	12.23 / 11.88	11.505	3.23% (+0.37)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed