O’Reilly Automotive, Inc. Announces Additional $1 Billion Share Repurchase Authorization
02 September 2017 - 6:30AM
O’Reilly Automotive, Inc. (the “Company” or “O’Reilly”)
(Nasdaq:ORLY), a leading retailer in the automotive aftermarket
industry, today announced that its Board of Directors approved a
resolution to increase the authorization amount under its share
repurchase program by an additional $1 billion, raising the
aggregate authorization under the program to $9.75 billion.
The additional $1 billion authorization is
effective for a three-year period, beginning on September 1,
2017. Stock repurchases under the program may be made from
time to time, as the Company deems appropriate, solely through open
market purchases effected through a broker dealer at prevailing
market prices, based on a variety of factors such as price,
corporate requirements and overall market conditions. There
can be no assurance as to the number of shares the Company will
purchase, if any. The share repurchase program may be
increased or otherwise modified, renewed, suspended or terminated
by the Company at any time, without prior notice.
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 www.oreillyauto.com 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 June 30, 2017, the
Company operated 4,934 stores in 47 states.
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, product demand, the
market for auto parts, competition, weather, risks associated with
the performance of acquired businesses, our ability to hire and
retain qualified employees, consumer debt levels, our increased
debt levels, credit ratings on public debt, governmental
regulations, terrorist activities, war and the threat of war.
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, 2016, 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 & Media Contact
Mark Merz (417) 829-5878
O Reilly Automotive (NASDAQ:ORLY)
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