O'Reilly Automotive, Inc. (ORLY) Q4 2022 Earnings Call Transcript

O'Reilly Automotive, Inc. (NASDAQ:ORLY) Q4 2022 Earnings Conference Call February 9, 2023 11:00 AM ET

Company Participants

Jeremy Fletcher - Chief Financial Officer

Greg Johnson - President and Chief Executive Officer

Brad Beckham - Chief Operating Officer

Brent Kirby - Chief Supply Chain Officer

Greg Henslee - Executive Chairman

David O’Reilly - Executive Vice Chairman

Conference Call Participants

Michael Lasser - UBS

Simeon Gutman - Morgan Stanley

Greg Melich - Evercore ISI

Seth Basham - Wedbush

Brian Nagel - Oppenheimer

Mike Baker - D.A. Davidson

Chris Horvers - JPMorgan

Scot Ciccarelli - Truist

Operator

Welcome to the O’Reilly Automotive, Inc. Fourth Quarter and Full Year 2022 Earnings Call. My name is Paul and I will be your operator for today’s call. [Operator Instructions] I will now turn the call over to Jeremy Fletcher. Mr. Fletcher, you may begin.

Jeremy Fletcher

Thank you, Paul. Good morning, everyone and thank you for joining us. During today’s conference call, we will discuss our fourth quarter and full year 2022 results and our outlook for 2023. After our prepared comments, we will host a question-and-answer period.

Before we begin this morning, I would like to remind everyone that our comments today contain forward-looking statements and we intend to be covered by and we claim the protection under, the Safe Harbor provisions for forward-looking statements contained in the Private Securities 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. The company’s actual results could differ materially from any forward-looking statements due to several important factors described in the company’s latest annual report on Form 10-K for the year ended December 31, 2021 and other recent SEC filings. The company assumes no obligation to update any forward-looking statements made during this call.

At this time, I would like to introduce Greg Johnson.

Greg Johnson

Thanks, Jeremy. Good morning, everyone and welcome to the O’Reilly Auto Parts fourth quarter conference call. Before we begin our discussion on our results and our plans for 2023, I’d like to take a few moments to discuss the announcement we made in January regarding the promotion of Brad Beckham and Brent Kirby to Co-Presidents.

Our company is extremely focused on identifying and developing leaders who in turn are relentless in building the very best team in our industry. Our long-term commitment to succession planning is a critical component of our human capital strategy. In line with that strategy, we are extremely pleased to have Brent and Brad assume the elevated positions of Co-Presidents.