O'Reilly Automotive (ORLY) Q3 FY2021 earnings: revenue $3.5 billion, up 8.5% on the year

O'Reilly Automotive, Inc. (ORLY) reported revenue of $3.5 billion for Q3 FY2021, the quarter ended 30 September 2021, up 8.5% on the same quarter a year earlier as this quarter's filing gives it. Net income was $559 million, up 6.0% on the year as this quarter's filing gives it, and diluted earnings per share $0.54. The figures are the company's own, from the 10-Q it filed with the SEC on 8 November 2021.

Revenue

$3.5 billion

+8.5% on the year · +0.4% on the quarter

Q4 FY2019Q3 FY2021

Operating margin

21.7%

22.6% a year earlier

Q4 FY2019Q3 FY2021

Net income

$559 million

+6.0% on the year · -4.6% on the quarter

Q4 FY2019Q3 FY2021

Diluted EPS

$0.54

+14.2% on the year · -3.1% on the quarter

Q4 FY2019Q3 FY2021

this quarterthe same quarter a year earlierHover a bar for its figure.

Income statement (profit and loss)

$ million	Q3 FY2021	Q2 FY2021	Q3 FY2020	On the quarter	On the year
Revenue	3,480	3,466	3,208	+0.4%	+8.5%
Cost of revenue	1,661	n/a	n/a
Gross profit	1,818	n/a	n/a
Gross margin	52.3%	n/a	n/a
Selling, general and administrative	1,064	n/a	n/a
Operating income	755	796	725	-5.2%	+4.1%
Operating margin	21.7%	23.0%	22.6%
Interest expense	34.9	n/a	n/a
Pre-tax income	721	n/a	n/a
Income tax	162	n/a	n/a
Effective tax rate	22.5%	n/a	n/a
Net income	559	585	527	-4.6%	+6.0%
Net margin	16.1%	n/a	n/a
Diluted EPS	$0.54	$0.56	$0.47	-3.1%	+14.2%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q3 FY2021	Q2 FY2021	Q3 FY2020	On the quarter	On the year
Operating cash flow	852	n/a	n/a
Capital expenditure	118	n/a	n/a
Free cash flow	734	n/a	n/a
Free cash flow margin	21.1%	n/a	n/a
Cash from investing	-117	n/a	n/a
Cash from financing	-918	n/a	n/a
Depreciation and amortisation	78.7	79.2	79.6	-0.5%	-1.1%
Share-based compensation	6.0	n/a	n/a
Buybacks	943	n/a	n/a
Diluted shares, weighted	1,039m	1,054m	1,119m	-1.5%	-7.2%
Shares outstanding at period end	1,015m	1,037m	1,099m	-2.1%	-7.6%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2021	Q2 FY2021	Q3 FY2020	On the quarter	On the year
Shareholders' equity	-141	218	709
Debt	3,826	3,825	4,622	+0.0%	-17.2%
Operating lease liabilities	1,729	n/a	n/a
Other liabilities	6,375	n/a	n/a
Total liabilities and equity	11,789	n/a	n/a
Fixed assets	4,202	n/a	n/a
Goodwill	879	n/a	n/a
Cash and equivalents	449	632	1,627	-28.9%	-72.4%
Receivables	283	n/a	n/a
Inventory	3,647	n/a	n/a
Other assets	2,330	n/a	n/a
Total assets	11,789	n/a	n/a

Questions

What was O'Reilly Automotive's revenue in Q3 FY2021?

O'Reilly Automotive (ORLY) reported revenue of $3.5 billion for Q3 FY2021, the quarter ended 30 September 2021, up 8.5% on the same quarter a year earlier as the company restated it.

How much did O'Reilly Automotive earn in Q3 FY2021?

Net income for Q3 FY2021 was $559 million, up 6.0% on the year, and diluted earnings per share $0.54.

When did O'Reilly Automotive report Q3 FY2021 results?

O'Reilly Automotive filed its 10-Q for the quarter ended 30 September 2021 with the SEC on 8 November 2021.

Quarterly results, the last 20 quarters

	Q3 FY2021	Q4 FY2021	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	3,480	3,291	3,296	3,671	3,799	3,644	3,708	4,069	4,203	3,832	3,976	4,272	4,364	4,096	4,137	4,525	4,706	4,414	4,561	4,892
Cost of revenue	1,661	1,557	1,588	1,786	1,864	1,791	1,818	1,982	2,043	1,865	1,942	2,104	2,113	1,995	2,015	2,199	2,266	2,128	2,213	2,375
Gross profit	1,818	1,735	1,708	1,885	1,935	1,854	1,890	2,087	2,160	1,967	2,034	2,168	2,251	2,101	2,121	2,327	2,440	2,286	2,347	2,517
Gross margin	52%	53%	52%	51%	51%	51%	51%	51%	51%	51%	51%	51%	52%	51%	51%	51%	52%	52%	51%	51%
SG&A	1,064	1,059	1,039	1,086	1,131	1,172	1,174	1,233	1,263	1,249	1,282	1,305	1,354	1,362	1,380	1,412	1,464	1,458	1,506	1,531
Operating income	755	676	670	799	804	682	717	854	897	719	752	863	897	739	741	914	976	829	842	986
Operating margin	22%	21%	20%	22%	21%	19%	19%	21%	21%	19%	19%	20%	21%	18%	18%	20%	21%	19%	18%	20%
Interest expense	34.9	34.7	34.8	37.4	43.2	42.3	44.6	49.6	51.4	56.1	57.1	54.8	55.2	55.4	57.6	57.3	59.6	60.6	62.7	69.9
Pre-tax income	721	644	633	757	762	646	677	809	847	672	700	812	848	685	684	861	924	771	780	924
Tax rate	22%	19%	24%	24%	23%	18%	24%	22%	23%	18%	22%	23%	22%	20%	21%	22%	21%	21%	23%	23%
Net income	559	519	482	577	585	529	517	627	650	553	547	623	665	551	538	669	726	605	604	715
Net margin	16%	16%	15%	16%	15%	15%	14%	15%	15%	14%	14%	15%	15%	13%	13%	15%	15%	14%	13%	15%
Diluted EPS	$0.54	$0.51	$0.48	$0.59	$0.61	$0.56	$0.55	$0.68	$0.71	$0.62	$0.61	$0.70	$0.76	$0.63	$0.62	$0.78	$0.85	$0.71	$0.72	$0.86
Operating cash flow	852	642	690	702	961	795	714	938	866	516	704	949	772	624	755	757	617	633	1,033	1,006
Capital expenditure	118	102	104	125	160	175	223	238	293	252	249	225	258	290	287	301	312	269	244	308
Free cash flow	734	540	586	577	801	621	490	700	573	264	455	723	514	334	468	456	304	364	788	699
Buybacks	943	469	775	1,376	710	421	1,111	680	800	560	270	794	541	472	559	617	420	500	923	1,510
Shares outstanding	1,015m	1,005m	989m	956m	942m	935m	916m	906m	894m	886m	885m	874m	868m	862m	857m	851m	847m	842m	832m	816m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2021, filed 8 November 2021: the filing.