O'Reilly Automotive (ORLY) official guidance

| Effective income tax rate | | 22.7% |

For the full year of 2026, we now expect an effective tax rate of 22.5%.

| Effective income tax rate | | 22.5% |

For the full year of 2026, we continue to expect an effective tax rate of 22.6%, comprised of a base rate of 23.0% reduced by a benefit of 0.4% for share-based compensation.

| Effective income tax rate | | 22.6% |

For the full year of 2026, we expect an effective tax rate of 22.6%, comprised of a base rate of 23.0% reduced by a benefit of 0.4% for share-based compensation.

| Effective income tax rate | | 22.6% |

| Diluted earnings per share (1) | ​ | $3.25 to $3.35 |

Before I move on from our guidance, I would also like to note that we are increasing our full-year diluted earnings per share guidance to a range of $3.20-$3.30.

| Diluted earnings per share (1) | ​ | $3.20 to $3.30 |

Before I wrap up, I would like to note that we are increasing our full-year diluted earnings per share guidance to a range of $3.15-$3.25.

| Diluted earnings per share (1) | ​ | $3.15 to $3.25 |

As we outlined in our press release yesterday, we have established our earnings per share guidance for 2026 at $3.10-$3.20, which reflects an increase over 2025 EPS of 6.1% at the midpoint.

| Diluted earnings per share (1) | ​ | $3.10 to $3.20 |

For the full year of 2026, our expected free cash flow guidance remains unchanged at a range of $1.8 billion-$2.1 billion.

For 2026, our expected free cash flow guidance remains unchanged at a range of $1.8 billion-$2.1 billion.

For 2026, we expect free cash flow to be in the range of $1.8-$2.1 billion.

| Gross profit as a percentage of sales | | 51.6% to 52.1% |

Given our in-line first half performance and the current stable market environment, we’re maintaining our full-year gross margin guidance range of 51.5%-52%.

| Gross profit as a percentage of sales | | 51.5% to 52.0% |

We are maintaining our full-year gross margin guidance range of 51.5%-52%.

| Gross profit as a percentage of sales | | 51.5% to 52.0% |

We have established a guidance range for 2026 of 51.5%-52%, which at the midpoint would represent a 16 basis point increase over 2025.

| Gross profit as a percentage of sales | | 51.5% to 52.0% |

However, we are still targeting growth of 5% per store by the end of 2026.

We are still targeting growth of 5% per store by the end of 2026.

For 2026, we expect per-store inventory to increase approximately 5%, comprised of investments in hub store inventories and targeted additions in store assortments.

| Net, new store openings | | 225 to 235 |

We remain on track to open 225-235 net new stores in 2026.

| Net, new store openings | | 225 to 235 |

Our international markets continue to make progress in building the O'Reilly store growth engine, and we remain on track for our 2026 store opening goal of 225-235 net new stores.

| Net, new store openings | | 225 to 235 |

As we noted on last quarter's call, we have established a target of 225-235 net new store openings for 2026, an increase of approximately 25 stores over our growth in 2025.

| Net, new store openings | | 225 to 235 |

In this regard, we are pleased to announce our 2026 store opening target of 225 to 235 net new stores.

| Operating income as a percentage of sales | | 19.5% to 20.0% |

We are also reiterating our full year operating profit guidance range of 19.3%-19.8%, which reflects the sales, gross margin, and operating expense forecast that we have outlined today.

| Operating income as a percentage of sales | | 19.3% to 19.8% |

We are raising our full-year operating profit guidance range by 10 basis points to an updated range of 19.3%-19.8%.

| Operating income as a percentage of sales | | 19.3% to 19.8% |

Based on our SG&A expectations and projected gross margin range, we are setting our operating profit guidance range at 19.2%-19.7%, which at the midpoint is in line with our full-year 2025 results.

| Operating income as a percentage of sales | | 19.2% to 19.7% |

| Comparable store sales | | 5.5% to 6.5% |

As noted in yesterday's press release, we have increased from the previous range of 3%-5% to a range of 4%-6%.

| Comparable store sales | | 4.0% to 6.0% |

Turning to guidance, we've maintained our full-year comparable store sales guidance range of 3%-5%.

| Comparable store sales | | 3.0% to 5.0% |

As we disclosed in our release yesterday, we're establishing our annual comparable store sales guidance for 2026 at a range of 3%-5%.

| Total revenue | | $19.0 billion to $19.3 billion |

For 2026, we now expect our total revenues to be between $18.9 billion and $19.2 billion.

| Total revenue | | $18.9 billion to $19.2 billion |

For 2026, we continue to expect our total revenues to be between $18.7 billion and $19 billion.

| Total revenue | | $18.7 billion to $19.0 billion |

For 2026, we expect our total revenues to be between $18.7 billion and $19 billion.

| Total revenue | | $18.7 billion to $19.0 billion |

We continue to expect our full year SG&A per store growth to be at or below 4%, but we are making a slight revision to tighten our full year range to 3.5%-4%, which incorporates the flow-through of our results for the first half of 2026.

We are still expecting our full year SG&A per store growth to run approximately 3%-4%.

As we look forward to 2026, we are planning to grow average SG&A per store by 3%-4%.

We still expect a total capital expenditure investment for 2026 of $1.3 billion-$1.4 billion.

| Capital expenditures | | $1.3 billion to $1.4 billion |

Capital expenditures for the first quarter were $244 million, and we still expect a total capital expenditure investment in 2026 of $1.3 billion-$1.4 billion.

| Capital expenditures | ​ | $1.3 billion to $1.4 billion |

For 2026, we are setting our CapEx guidance at $1.3-$1.4 billion.

| Capital expenditures | ​ | $1.3 billion to $1.4 billion |

| Free cash flow (2) | | $1.8 billion to $2.1 billion |

| Free cash flow (2) | ​ | $1.8 billion to $2.1 billion |

| Free cash flow (2) | ​ | $1.8 billion to $2.1 billion |

For 2026, we expect to see moderation resulting from our planned incremental inventory investments and expect to finish the year at a ratio of approximately 122%.

For 2026, we expect to see continued moderation resulting from our planned incremental inventory investment, and we expect to finish the year at a ratio of approximately 122%.

| Net cash provided by operating activities | ​ | $3.1 billion to $3.5 billion |

| Net cash provided by operating activities | ​ | $3.1 billion to $3.5 billion |