O’Reilly Automotive Increases Share Repurchase Program by $2 Billion

On November 22, 2024, O’Reilly Automotive, Inc. (NASDAQ: ORLY) announced that its Board of Directors has approved a resolution to augment the authorization amount under its share repurchase program by an additional $2.0 billion. This decision escalates the total authorization under the program to $27.75 billion.

The latest $2.0 billion authorization is set to be effective for a three-year period commencing on November 22, 2024. O’Reilly Automotive will have the flexibility to carry out stock repurchases under the program intermittently and at its discretion. These repurchases will be executed solely through open market transactions conducted via a broker dealer at prevailing market prices. The company intends to base its repurchase decisions on various factors such as prevailing market prices, corporate requirements, and overall market conditions.

It is imperative to note that there is no assurance regarding the exact number of shares that O’Reilly Automotive will repurchase, if any, under this newly expanded program. Furthermore, the company retains the right to augment, revise, renew, suspend, or terminate the share repurchase program at any given time without prior notification.

In accordance with regulatory obligations, O’Reilly Automotive has duly ensured the signing of this report on its behalf by the undersigned, Jeremy A. Fletcher, Executive Vice President, and Chief Financial Officer, on November 22, 2024.

Please consult the original SEC filing on O’Reilly Automotive’s website for complete and official information regarding the share repurchase program.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read O’Reilly Automotive’s 8K filing here.

O’Reilly Automotive Company Profile

O’Reilly Automotive, Inc, together with its subsidiaries, operates as a retailer and supplier of automotive aftermarket parts, tools, supplies, equipment, and accessories in the United States, Puerto Rico, and Mexico. The company provides new and remanufactured automotive hard parts and maintenance items, such as alternators, batteries, brake system components, belts, chassis parts, driveline parts, engine parts, fuel pumps, hoses, starters, temperature control, water pumps, antifreeze, appearance products, engine additives, filters, fluids, lighting products, and oil and wiper blades; and accessories, including floor mats, seat covers, and truck accessories.