O'Reilly Automotive Inc ORLY
Q3 2010 Earnings Call Transcript

Transcript Call Date 10/28/2010

Operator: Good morning. My name is Carlene, and I will be your conference operator today. At this time, I would like to welcome everyone to the 2010 Third Quarter Earnings Release Conference Call. All lines will remain on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. (Operator Instructions).

Thank you. Mr. McFall, you may begin your conference.

Tom McFall - CFO and EVP, Finance: Thank you, Carlene. Good morning, everyone and welcome to O'Reilly conference call. Before I introduce Greg Henslee, our CEO, we have a brief statement.

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. These statements can be identified by forward-looking words such as expect, believe, anticipate, should, plan, intend, estimate, project, will or similar words. In addition, statements contained within this conference call that are not historical facts are forward-looking statements, such as statements discussing among other things, expected growth, store developments, 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, competition, product demand, the market for auto parts, the economy in general, inflation, consumer debt levels, governmental approvals, our ability to hire and retain qualified employees, risks associated with the integration of acquired businesses including the acquisition of CSK Auto Corporation, weather, 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 Company's Form 10-K for the year ended December 31, 2009, for more details.

At this time, I’d like to introduce Greg Henslee.

Greg Henslee - CEO and Co-President: Thanks, Tom. Good morning, everyone and welcome to our third quarter conference call. Participating on the call with me this morning is, of course Tom McFall, our Chief Financial Officer; and Ted Wise, our Chief Operating Officer. David O'Reilly, our Executive Chairman is also present.

I'd like to start off by once again congratulating Team O'Reilly on the outstanding results. Our performance across all markets in the third quarter was very strong and we should all be proud of our performance so far this year.

Especially impressive is the continued outstanding performance of the core O'Reilly stores. We’ve asked many of our more tenured team members to take on the task of attending the CSK conversions and spend the first couple of weeks after conversion training the converted store team members.

Even with these distractions, our core stores have continued to gain market share and post very impressive comparable store sales gains. At the same time, the work that we put into these conversions is clearly bearing fruit as we continue to gain market share in the converted stores.

Read our Earnings Call Transcript disclaimer.
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