SPRINGFIELD, Mo., May 10, 2017 (GLOBE NEWSWIRE) -- 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 $8.75 billion.
The additional $1 billion authorization is effective for a three-year period, beginning on May 10, 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
March 31, 2017, the Company operated 4,888 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
