ORLY · 10-Q · 2026Q3 · Full report

Operating Expense Trends

O REILLY AUTOMOTIVE INC · 2026-11-06 · Importance 25 · Surprise 32

Third-quarter SG&A increased 8% to $1.58 billion, while SG&A as a share of sales decreased to 30.9% from 31.1%. Nine-month SG&A rose 9% to $4.62 billion, with the ratio declining to 31.7% from 31.8%. Higher expenses reflected additional Team Members and operating costs supporting sales growth and store expansion. Store-cost leverage on strong comparable sales more than offset inflationary pressure in the quarter; nine-month leverage was partly offset by inflation and higher casualty-insurance costs.

Key facts

• O’Reilly’s SG&A for the three months ended September 30, 2026, increased 8% to $1.58 billion, or 30.9% of sales, from $1.46 billion, or 31.1% of sales, a year earlier. source
• O’Reilly’s SG&A for the nine months ended September 30, 2026, increased 9% to $4.62 billion, or 31.7% of sales, from $4.26 billion, or 31.8% of sales, a year earlier. source
• O’Reilly’s total SG&A dollar increases for the three and nine months ended September 30, 2026, primarily reflected additional Team Members and operating expenses to support increased sales and store count. source