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By OReilly Auto Parts
First quarter comparable store sales growth of 3.4% 11% increase in first quarter diluted earnings per share to $9.20 Completed the acquisition of Groupe Del Vasto in January SPRINGFIELD, Mo., April 24, 2024 (GLOBE NEWSWIRE) -- 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 first quarter ended March 31, 2024.
1st Quarter Financial Results
Brad Beckham, O’Reilly’s CEO, commented, “We are pleased to report a solid start to 2024, highlighted by a 3.4% comparable store sales increase, which was on top of the very strong 10.8% comparable store sales increase from the first quarter last year. Our comparable store sales increase was comprised of solid growth in both professional and DIY, which grew mid-single digit and low-single digit, respectively, in the quarter. Our team’s continued strong execution drove an 11% increase in diluted earnings per share, and is a clear demonstration of Team O’Reilly’s commitment to our culture values of hard work and excellent customer service. I would like to thank each of our over 90,000 Team Members for their ongoing dedication to O’Reilly’s success.”
Sales for the first quarter ended March 31, 2024, increased $268 million, or 7%, to $3.98 billion from $3.71 billion for the same period one year ago. Gross profit for the first quarter increased 8% to $2.03 billion (or 51.2% of sales) from $1.89 billion (or 51.0% of sales) for the same period one year ago. Selling, general and administrative expenses for the first quarter increased 9% to $1.28 billion (or 32.2% of sales) from $1.17 billion (or 31.7% of sales) for the same period one year ago. Operating income for the first quarter increased 5% to $752 million (or 18.9% of sales) from $717 million (or 19.3% of sales) for the same period one year ago.
Net income for the first quarter ended March 31, 2024, increased $30 million, or 6%, to $547 million (or 13.8% of sales) from $517 million (or 13.9% of sales) for the same period one year ago. Diluted earnings per common share for the first quarter increased 11% to $9.20 on 59 million shares versus $8.28 on 62 million shares for the same period one year ago.
Mr. Beckham concluded, “During the first quarter, we opened 37 stores across 20 U.S. states and Mexico and continue to be extremely pleased with the performance of our new stores. Additionally, we began operating 23 stores in Canada after closing on the acquisition of Vast Auto in January. With the talented and experienced Vast Auto team now officially a part of Team O’Reilly, we are very pleased with the early momentum we have generated in Canada. We remain excited about the future opportunities we have before us in the Canadian market and throughout North America and look forward to growing our market share in new and existing markets as the industry leader in excellent customer service.”
1st Quarter 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 in the three months ended March 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 3.4% for the first quarter ended March 31, 2024, on top of 10.8% for the same period one year ago.
Share Repurchase Program
During the first quarter ended March 31, 2024, the Company repurchased 0.3 million shares of its common stock, at an average price per share of $1,029.24, for a total investment of $270 million. Excise tax on shares repurchased, assessed at one percent of the fair market value of shares repurchased, was $2.7 million for the three months ended March 31, 2024. Subsequent to the end of the first quarter and through the date of this release, the Company repurchased an additional 0.1 million shares of its common stock, at an average price per share of $1,102.00, for a total investment of $79 million. The Company has repurchased a total of 94.4 million 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 $249.17, for a total aggregate investment of $23.53 billion. As of the date of this release, the Company had approximately $2.22 billion remaining under its current share repurchase authorizations.
Updated Full-Year 2024 Guidance
The table below outlines the Company’s updated guidance for selected full-year 2024 financial data:
For the Year Ending December 31, 2024 Net, new store openings 190 to 200 Comparable store sales 3.0% to 5.0% Total revenue $16.8 billion to $17.1 billion Gross profit as a percentage of sales 51.0% to 51.5% Operating income as a percentage of sales 19.7% to 20.2% Effective income tax rate 22.4% Diluted earnings per share (1) $41.35 to $41.85 Net cash provided by operating activities $2.7 billion to $3.1 billion Capital expenditures $900 million to $1.0 billion Free 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, 2024 Net cash provided by operating activities $ 2,715 to $ 3,125 Less: Capital expenditures 900 to 1,000 Excess tax benefit from share-based compensation payments 15 to 25 Free cash flow $ 1,800 to $ 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, April 25, 2024, 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 link hidden, please login to view by clicking on “Investor Relations” and then “News Room.” 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 193896. A replay of the conference call will be available on the Company’s website through Thursday, April 24, 2025.
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 link hidden, please login to view 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 March 31, 2024, the Company operated 6,217 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,” 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; 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, 2023, 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 Mark Merz (417) 829-5878 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) March 31, 2024 March 31, 2023 December 31, 2023 (Unaudited) (Unaudited) (Note) Assets Current assets: Cash and cash equivalents $ 89,264 $ 59,872 $ 279,132 Accounts receivable, net 437,821 346,037 375,049 Amounts receivable from suppliers 139,267 128,758 140,443 Inventory 4,805,164 4,543,980 4,658,367 Other current assets 128,181 109,347 105,311 Total current assets 5,599,697 5,187,994 5,558,302 Property and equipment, at cost 8,555,556 7,649,066 8,312,367 Less: accumulated depreciation and amortization 3,360,351 3,090,010 3,275,387 Net property and equipment 5,195,205 4,559,056 5,036,980 Operating lease, right-of-use assets 2,227,783 2,166,646 2,200,554 Goodwill 1,009,857 892,094 897,696 Other assets, net 180,512 167,026 179,463 Total assets $ 14,213,054 $ 12,972,816 $ 13,872,995 Liabilities and shareholders’ deficit Current liabilities: Accounts payable $ 6,117,068 $ 6,055,992 $ 6,091,700 Self-insurance reserves 130,974 136,723 128,548 Accrued payroll 127,704 111,324 138,122 Accrued benefits and withholdings 174,125 132,022 174,650 Income taxes payable 147,645 117,790 7,860 Current portion of operating lease liabilities 399,245 375,451 389,536 Other current liabilities 791,633 427,006 730,937 Total current liabilities 7,888,394 7,356,308 7,661,353 Long-term debt 5,288,632 4,927,678 5,570,125 Operating lease liabilities, less current portion 1,900,200 1,854,533 1,881,344 Deferred income taxes 321,323 249,903 295,471 Other liabilities 205,703 209,411 203,980 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 61,038,936 as of March 31, 2023, and 59,072,792 as of December 31, 2023 590 610 591 Additional paid-in capital 1,410,756 1,305,276 1,352,275 Retained deficit (2,849,108 ) (2,952,797 ) (3,131,532 ) Accumulated other comprehensive income 46,564 21,894 39,388 Total shareholders’ deficit (1,391,198 ) (1,625,017 ) (1,739,278 ) Total liabilities and shareholders’ deficit $ 14,213,054 $ 12,972,816 $ 13,872,995 Note: The balance sheet at December 31, 2023, 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 March 31, 2024 2023 Sales $ 3,976,240 $ 3,707,864 Cost of goods sold, including warehouse and distribution expenses 1,942,068 1,817,535 Gross profit 2,034,172 1,890,329 Selling, general and administrative expenses 1,281,691 1,173,684 Operating income 752,481 716,645 Other income (expense): Interest expense (57,148 ) (44,572 ) Interest income 1,656 868 Other, net 3,401 4,479 Total other expense (52,091 ) (39,225 ) Income before income taxes 700,390 677,420 Provision for income taxes 153,152 160,535 Net income $ 547,238 $ 516,885 Earnings per share-basic: Earnings per share $ 9.27 $ 8.36 Weighted-average common shares outstanding – basic 59,017 61,840 Earnings per share-assuming dilution: Earnings per share $ 9.20 $ 8.28 Weighted-average common shares outstanding – assuming dilution 59,454 62,398
O’REILLY AUTOMOTIVE, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands) For the Three Months Ended March 31, 2024 2023 Operating activities: Net income $ 547,238 $ 516,885 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization of property, equipment and intangibles 109,648 93,747 Amortization of debt discount and issuance costs 1,593 1,215 Deferred income taxes 2,374 3,393 Share-based compensation programs 7,022 7,435 Other 2,997 29 Changes in operating assets and liabilities: Accounts receivable (36,954 ) (2,610 ) Inventory (92,042 ) (179,481 ) Accounts payable 6,107 172,701 Income taxes payable 140,025 145,441 Other 16,207 (44,991 ) Net cash provided by operating activities 704,215 713,764 Investing activities: Purchases of property and equipment (249,240 ) (223,268 ) Proceeds from sale of property and equipment 3,853 2,704 Other, including acquisitions, net of cash acquired (155,366 ) (956 ) Net cash used in investing activities (400,753 ) (221,520 ) Financing activities: Proceeds from borrowings on revolving credit facility 30,000 1,216,000 Payments on revolving credit facility — (661,000 ) Net payments of commercial paper (310,805 ) — Repurchases of common stock (270,019 ) (1,111,461 ) Net proceeds from issuance of common stock 57,815 15,146 Other (569 ) (354 ) Net cash used in financing activities (493,578 ) (541,669 ) Effect of exchange rate changes on cash 248 714 Net decrease in cash and cash equivalents (189,868 ) (48,711 ) Cash and cash equivalents at beginning of the period 279,132 108,583 Cash and cash equivalents at end of the period $ 89,264 $ 59,872 Supplemental disclosures of cash flow information: Income taxes paid $ 9,798 $ 9,696 Interest paid, net of capitalized interest 34,671 26,531
O’REILLY AUTOMOTIVE, INC. AND SUBSIDIARIES
SELECTED FINANCIAL INFORMATION
(Unaudited) For the Twelve Months Ended March 31, Adjusted Debt to EBITDAR: 2024 2023 (In thousands, except adjusted debt to EBITDAR ratio) GAAP debt $ 5,288,632 $ 4,927,678 Add: Letters of credit 137,848 116,688 Unamortized discount and debt issuance costs 28,368 27,322 Six-times rent expense 2,587,056 2,404,986 Adjusted debt $ 8,041,904 $ 7,476,674 GAAP net income $ 2,376,934 $ 2,207,655 Add: Interest expense 214,244 167,451 Provision for income taxes 650,786 635,159 Depreciation and amortization 424,962 368,757 Share-based compensation expense 27,098 27,360 Rent expense (i) 431,176 400,831 EBITDAR $ 4,125,200 $ 3,807,213 Adjusted debt to EBITDAR 1.95 1.96
(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 twelve months ended March 31, 2024 and 2023 (in thousands):
For the Twelve Months Ended March 31, 2024 2023 Total lease cost, per ASC 842 $ 510,208 $ 476,439 Less: Variable non-contract operating lease components, related to property taxes and insurance 79,032 75,608 Rent expense $ 431,176 $ 400,831
March 31, 2024 2023 Selected Balance Sheet Ratios: Inventory turnover (1) 1.7 1.7 Average inventory per store (in thousands) (2) $ 773 $ 754 Accounts payable to inventory (3) 127.3 % 133.3 %
For the Three Months Ended March 31, 2024 2023 Reconciliation of Free Cash Flow (in thousands): Net cash provided by operating activities $ 704,215 $ 713,764 Less: Capital expenditures 249,240 223,268 Excess tax benefit from share-based compensation payments 16,120 4,378 Free cash flow $ 438,855 $ 486,118
For the Three Months Ended March 31, 2024 2023 Revenue Disaggregation (in thousands): Sales to do-it-yourself customers $ 2,001,986 $ 1,918,467 Sales to professional service provider customers 1,869,740 1,711,964 Other sales, sales adjustments, and sales from the acquired Vast Auto stores 104,514 77,433 Total sales $ 3,976,240 $ 3,707,864
For the Three Months Ended For the Twelve Months Ended March 31, March 31, 2024 2023 2024 2023 Store Count: Beginning domestic store count 6,095 5,929 5,986 5,811 New stores opened 36 59 146 179 Stores closed — (2 ) (1 ) (4 ) Ending domestic store count 6,131 5,986 6,131 5,986 Beginning Mexico store count 62 42 43 27 New stores opened 1 1 20 16 Ending Mexico store count 63 43 63 43 Beginning Canada store count — — — — Stores acquired 23 — 23 — Ending Canada store count 23 — 23 — Total ending store count 6,217 6,029 6,217 6,029
For the Three Months Ended For the Twelve Months Ended March 31, March 31, 2024 2023 2024 2023 Store and Team Member Information: Total employment 90,601 89,125 Square footage (in thousands) (4) 47,143 45,117 Sales per weighted-average square foot (4)(5) $ 82.59 $ 81.09 $ 341.62 $ 328.29 Sales per weighted-average store (in thousands) (4)(6) $ 634 $ 611 $ 2,601 $ 2,467
(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.
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By Counterman
In this aftermarketNews Executive Interview, Johannes Crepon, PDM Automotive Co-Founder & CEO, discusses the company’s platform, how it helps parts suppliers keep their product data up to date, how the use of AI technology makes e-commerce easier for suppliers and distributors, what the company has planned for this year, and more.
aftermarketNews: PDM Automotive provides commerce software for auto parts suppliers, manufacturers, resellers and distributors. Give us a brief overview of how aftermarket companies have found partnering with PDM most beneficial.
link hidden, please login to view Johannes Crepon: The genesis of PDM Automotive was rooted in my own experiences and challenges as the founder of Velocity Automotive, an ecommerce company that sells parts for American cars throughout Europe. At Velocity, we faced difficulties connecting with suppliers, managing product data, and ensuring brand visibility. Recognizing these industry-wide issues, I started PDM Automotive to increase efficiency in the automotive aftermarket through seamless connectivity between suppliers and retailers.
The PDM Automotive platform bridges the gap between auto parts suppliers, manufacturers, resellers and distributors. Manufacturers gain unprecedented transparency into where and how their brands are sold, enabling effective brand management and strategic decision-making. Resellers benefit from expedited access to up-to-date product data, reducing hurdles in acquiring and maintaining catalogs and allowing for agility in responding to market trends.
At its core, PDM Automotive fosters connections and streamlines information flow across the automotive aftermarket. By providing a platform that enhances transparency for manufacturers and accessibility for resellers, we’re creating an ecosystem that elevates the entire industry.
AMN: One of the hallmarks of PDM’s technology is allowing for a “seamless exchange of accurate and timely content across every facet of the automotive industry.” Tell us how PDM assists parts suppliers in keeping their product data up to date. How can the company help suppliers better adhere to ACES & PIES standards?
Crepon: While ACES & PIES has become the most relevant data standard in the Americas, its implementation across the industry has not been without challenges. The standard itself, although comprehensive, does not fully address the intricacies of data exchange, with many resellers interpreting and implementing the standard differently, leading to a fragmented array of data requirements.
Recognizing these challenges, our platform goes beyond merely supporting ACES & PIES standards; we enhance the standards with our proprietary connectors and algorithms, tailoring product data to meet the needs of every receiver. Suppliers can manage their data from a centralized platform, and we tailor this data to comply with the diverse interpretations and requirements of resellers across the industry. This process saves significant time and resources for suppliers and ensures that their product information is accurate, consistent, and easily accessible by resellers and end-users alike.
Our technology “puts ACES & PIES on steroids,” ensuring suppliers’ data is always optimized for every channel, leading to a more efficient supply chain, increased product visibility, and a better customer experience. is a testament to our commitment to innovation and efficiency in the automotive aftermarket.
Our ongoing development of proprietary connectors and algorithms signifies PDM’s dedication to continuous improvement. As the industry evolves, so do the standards and requirements for data exchange. PDM is at the forefront of these changes, ensuring our partners have the tools and support necessary to navigate the dynamic automotive aftermarket effectively.
AMN: PDM allows brands to sell parts anywhere—from Amazon to national retailers and local parts suppliers. How is the company creating sales opportunities for brands while minimizing channel conflict?
Crepon: Historically, brands struggled with over-distribution, diluting the brand image and causing inconsistent product presentation due to the lack of a cohesive strategy regarding distribution and authorized reselling partners. The rise of online marketplaces has further complicated this scenario, making it imperative for brands to actively manage how their products are represented across all channels.
PDM addresses these challenges by offering a platform that guarantees high-quality listings on marketplaces like Amazon, eBay, and Walmart, while adhering to Minimum Advertised Price (MAP) policies. This strategic approach allows brands to protect their interests across all channels, including traditional channels, which are often jeopardized by price dumping on online marketplaces. By ensuring that products listed on these platforms are presented in a manner that reflects the brand’s standards and pricing policies, PDM helps maintain the integrity of the brand across the digital landscape.
Additionally, our platform gives brands tools to actively manage their distribution, image, and product presentation, particularly important as consumer preference shifts towards online shopping. This allows brands to maintain control over their narrative and pricing.
With PDM’s technology, brands can navigate the complexities of modern retail, ensuring that their products are distributed in a way that supports their overall sales strategy while protecting the channels most valuable to them. This holistic approach to channel management is vital in today’s market, where visibility across a multitude of platforms is not just an advantage but a necessity.
AMN: The company uses AI to generate SEO titles, descriptions and marketing copy for products based on keywords and inputs in just seconds. In what other ways is PDM looking to use AI technology to make e-commerce easier for suppliers and distributors?
Crepon: While our use of AI to generate SEO-optimized titles, descriptions, and marketing copy in mere seconds showcases our commitment to leveraging technology for efficiency, it’s just the tip of the iceberg regarding our AI applications.
Our approach to AI technology is both strategic and discerning. Recognizing that AI’s strengths lie in its ability to process and optimize large sets of data quickly, we are mindful of its limitations, particularly when it comes to the precision required in our core data set—the richest automotive parts catalog in the industry. Accuracy is paramount, and while AI offers many opportunities, it is not inherently accurate. This understanding shapes how we integrate AI into our operations, ensuring that the reliability and accuracy of our core data are never compromised.
One key area where we leverage AI is in the normalization of complex, non-structured data that has accumulated in the industry over the last century. This task, daunting for human teams due to the sheer volume and variability of the data, is where AI shines. Our engineering team utilizes AI algorithms to sift through and organize this data into a coherent, structured format. This normalization process improves the quality of our catalog and enhances the efficiency and accuracy of data management for our customers.
Once we have perfected the data within the PDM catalog, we use AI to optimize it for specific channels. This optimization process involves adjusting product data to meet the unique requirements and standards of various e-commerce platforms, ensuring accurate presentations of our customers’ products, regardless of where they are sold. In doing this, we enable suppliers and distributors to maximize their online presence and sales potential across multiple channels.
We’re exploring other ways to integrate AI into our solutions to further simplify and enhance e-commerce operations. These include predictive analytics for demand forecasting, AI-driven recommendations for inventory management and automated customer service solutions to improve buyer engagement and satisfaction.
AMN: PDM was founded in 2017, and since it has grown exponentially. What does the company have in store for 2024? What can we expect from PDM in the next five years?
Crepon: In 2024, we’re set to expand our reach and capabilities. Our recent investment in upgrading our system’s underlying infrastructure has positioned us to take full advantage of the opportunities that lie ahead. This strategic enhancement ensures our platform is scalable, resilient and capable of supporting our future ambitions.
Our strategic priorities include developing more connectors, forging new partnerships, and expanding our catalog. Developing more connectors will broaden the scope of our network, making it easier for our customers to reach new markets and ensure accurate and up-to-date product information flows efficiently between manufacturers, suppliers, distributors, and retailers. We will add more partnerships; collaborating with other industry leaders and innovators is essential for driving collective progress and delivering comprehensive solutions to our clients.
Another key focus is the ongoing expansion of our catalog. Our goal is to offer the industry’s most comprehensive and detailed automotive parts catalog, serving as the single source for all our clients’ data needs. This growing catalog, enriched with accurate and detailed product information, will empower our clients to make informed decisions and optimize their operations like before.
Our vision for the next five years is to remain at the forefront of technology adoption in the industry, constantly exploring new ways to leverage technology to solve the unique challenges of our customers. Whether it’s through AI, machine learning, or other emerging technologies, our focus will be on providing solutions that make e-commerce easier, more efficient, and more profitable for suppliers and distributors.
AMN: What do you want the automotive aftermarket to know about PDM Automotive?
Crepon: PDM Automotive is not just about managing product data; it’s about increasing our customer’s market share in a $300 billion industry. While we are widely recognized for our Product Information Management (PIM) capabilities, our vision extends beyond managing rich catalog data; it includes a far-reaching ambition to connect every parts manufacturer with every buyer who needs or wants a part.
Our vision to connect every parts manufacturer with every buyer drives every innovation and decision at PDM Automotive. We aim to streamline buying and selling auto parts by facilitating connections and creating a more integrated and cohesive industry ecosystem. We are constantly exploring new technologies, developing new solutions, and forging strategic partnerships to enhance our platform’s ability to connect manufacturers and buyers in the most effective and meaningful ways possible.
We believe that achieving this goal will unlock the full potential of the aftermarket, creating opportunities for growth, innovation, and success for everyone. We invite you to join us on this journey, as we work to realize a future where every part finds its place effortlessly, benefiting manufacturers, buyers and the automotive community.
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By NAPA
In one of the closest Funny Car races in four-wide drag racing history, three-time world champion Ron Capps finished third in the NHRA Four-Wide Nationals final round Sunday afternoon at The Strip at Las Vegas Motor Speedway. Driving the link hidden, please login to view Toyota GR Supra, Capps laid down a weekend-best 3.902-second pass at 333.00 MPH to come up just thousandths of a second short in a four-wide photo finish.
Capps and crew chief Dean ‘Guido’ Antonelli worked their way through qualifying, steadily improving in each session. After a pair of 4-second passes on Friday, Capps laid down a 3.988 E.T. at 324.67 MPH to step up in the third session on Saturday. A consistent but slightly quicker 3.980 E.T. in the final session put Capps in the No. 11 position going into Sunday eliminations.
The first quad of Funny Car eliminations was a tricky one, but Capps came out on top. He and fellow Toyota driver J.R. Todd left first with identical .059 reaction times, then Capps held on to win with a 4.289 E.T. at 222.88 MPH over Todd, Dave Richards, and Daniel Wilkerson. Capps was first off of the starting line again in the second round, an advantage that helped him and his 3.932 E.T. finish ahead of Matt Hagan’s 3.938 E.T., Todd’s 3.951-second effort, and Jason Rupert’s 4.055 E.T.
Appearing in his 148th career final round, Capps cut his best light of the day, .056, and charged to his best performance of the weekend to reach the finish line third behind winner Bob Tasca III and runner-up Austin Prock. Capps finished less than a thousandth of a second behind Prock and just nine thousandths behind Tasca.
“What a drag race to watch as a fan,” said Capps, who’s won six times in Las Vegas. “I can’t tell you how ecstatic I am with our NAPA Auto Care team and what they’ve done with a brand-new car and a lot of the new parts that they’ve had to get used to. It usually takes teams a lot longer than this. I’m pretty bummed that we couldn’t win that round. I’m so happy we have our race car back, especially getting on a swing here where Guido is getting comfortable. I’m so happy about the car, but I’m so bummed at the same time. It’s going to take a little bit to digest.”
No. 6-ranked Capps and the Ron Capps Motorsports Funny Car team will get another shot at four-wide glory in two weeks at the East Coast edition of the NHRA Four-Wide Nationals, April 26-28, at zMAX Dragway in Concord, N.C.
Start / Finish: No. 11 / def. in Final Round
Points Standing / Total: No. 6 / 242 pts.
Next Race: April 26-28, Concord, N.C., NHRA Four-Wide Nationals
How to Watch or Listen: FS1,
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By OReilly Auto Parts
Automotive Shock and Strut Overview | What do they do and why are they important?
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By OReilly Auto Parts
SPRINGFIELD, Mo., April 01, 2024 (GLOBE NEWSWIRE) -- O’Reilly Automotive, Inc. (the “Company” or “O’Reilly”) (Nasdaq: ORLY), a leading retailer in the automotive aftermarket industry, announces the release date for its first quarter 2024 results as Wednesday, April 24, 2024, with a conference call to follow on Thursday, April 25, 2024.
The Company’s first quarter 2024 results will be released after 3:30 p.m. Central Time on Wednesday, April 24, 2024, and can be viewed, at that time, on the Company’s website at link hidden, please login to view by clicking on “Investor Relations” and then “News Room.”
Investors are invited to listen to the Company’s conference call discussing the financial results for the first quarter of 2024, on Thursday, April 25, 2024, at 10:00 a.m. Central Time, via webcast on the Company’s website at link hidden, please login to view by clicking on “Investor Relations” and then “News Room.” 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 193896. A replay of the conference call will be available on the Company’s website through April 24, 2025.
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 link hidden, please login to view 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, 2023, the Company operated 6,157 stores across 48 U.S. states, Puerto Rico, and Mexico.
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