O'Reilly Automotive Inc ORLY
Q2 2012 Earnings Call Transcript

Transcript Call Date 07/26/2012

Operator: Good morning. My name is Melissa, and I will be your conference operator today. At this time, I would like to welcome everyone to the O'Reilly Automotive Second Quarter 2012 Earnings Release. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. Thank you.

Mr. Tom McFall, you may begin your conference.

Thomas G. McFall - EVP of Finance and CFO: Thank you, Melissa. Good morning, everyone, and welcome to our 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. You can identify these statements 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 development, integration and expansion strategy, business strategies, future revenue and future performance. These forward-looking statements are based on estimates, projections, beliefs, and assumptions that 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 regulations, the Company's increased debt levels, credit ratings on the Company's public debt, the Company's ability to hire and retain qualified employees, risks associated with the performance of acquired businesses, such as 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 annual report on Form 10-K for the year ended December 31, 2011, for additional factors that could materially affect the Company's financial performance. The Company undertakes no obligation to publicly update any forward-looking statements whether as a result of new information, future events or otherwise.

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

Gregory L. Henslee - Co-President and CEO: Thanks Tom. Good morning, everyone and welcome to the O'Reilly Auto Parts second 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.

First, I'd like to congratulate team O'Reilly for our continuing success at providing the higher levels of customer service in our industry. Despite the pull forward of a portion of the spring business into the first quarter along with a difficult consumer spending environment, we were able to achieve a respectable 2.5% comparable store sales increase and generated 20% increase in earnings per share. This marks our 14th straight quarter of increasing adjusted earnings per share in excess of 15%.

Read our Earnings Call Transcript disclaimer.
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