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, /PRNewswire/ -- This press release provides shareholders of Cohen & Steers Quality Income Realty Fund, Inc. (NYSE: RQI) (the "Fund") with information regarding the sources of the distribution to be paid on May 29, 2026 and cumulative distributions paid fiscal year-to-date.

In December 2012, the Fund implemented a managed distribution policy in accordance with exemptive relief issued by the Securities and Exchange Commission. The managed distribution policy seeks to deliver the Fund's long-term total return potential through regular monthly distributions declared at a fixed rate per common share. The policy gives the Fund greater flexibility to realize long-term capital gains throughout the year and to distribute those gains on a regular monthly basis to shareholders. The Board of Directors of the Fund may amend, terminate or suspend the managed distribution policy at any time, which could have an adverse effect on the market price of the Fund's shares. 

The Fund's monthly distributions may include long-term capital gains, short-term capital gains, net investment income and/or return of capital for federal income tax purposes. Return of capital includes distributions paid by the Fund in excess of its net investment income and net realized capital gains and such excess is distributed from the Fund's assets. A return of capital is not taxable; rather, it reduces a shareholder's tax basis in his or her shares of the Fund. In addition, distributions from the Fund's investments in real estate investment trusts (REITs) may later be characterized as capital gains and/or a return of capital, depending on the character of the dividends reported to the Fund after year-end by REITs held by the Fund. The amount of monthly distributions may vary depending on a number of factors, including changes in portfolio and market conditions.

At the time of each monthly distribution, information will be posted to cohenandsteers.com and mailed to shareholders in a concurrent notice. However, this information may change at the end of the year because the final tax characteristics of the Fund's distributions cannot be determined with certainty until after the end of the calendar year. Final tax characteristics of all of the Fund's distributions will be provided on Form 1099-DIV, which is mailed after the close of the calendar year.

The following table sets forth the estimated amounts of the current distribution and the cumulative distributions paid this fiscal year-to-date from the sources indicated. All amounts are expressed per common share.

DISTRIBUTION ESTIMATES

May 2026

YEAR-TO-DATE (YTD)

May 31, 2026*

Source

Per Share
Amount

% of Current
Distribution

Per Share
Amount

% of 2026
Distributions

Net Investment Income

$0.0000

0.00 %

$0.0000

0.00 %

Net Realized Short-Term Capital Gains

$0.0000

0.00 %

$0.0000

0.00 %

Net Realized Long-Term Capital Gains

$0.0900

100.00 %

$0.4500

100.00 %

Return of Capital (or other Capital Source)

$0.0000

0.00 %

$0.0000

0.00 %

Total Current Distribution

$0.0900

100.00 %

$0.4500

100.00 %

You should not draw any conclusions about the Fund's investment performance from the amount of this distribution or from the terms of the Fund's managed distribution policy.  The amounts and sources of distributions reported in this Notice are only estimates, are likely to change over time, and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for accounting and tax reporting purposes will depend upon the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The amounts and sources of distributions year-to-date may be subject to additional adjustments.

*THE FUND WILL SEND YOU A FORM 1099-DIV FOR THE CALENDAR YEAR THAT WILL TELL YOU HOW TO REPORT THESE DISTRIBUTIONS FOR FEDERAL INCOME TAX PURPOSES.

The Fund's Year-to-date Cumulative Total Return for fiscal year 2026 (January 1, 2026 through April 30, 2026) is set forth below. Shareholders should take note of the relationship between the Year-to-date Cumulative Total Return with the Fund's Cumulative Distribution Rate for 2026. In addition, the Fund's Average Annual Total Return for the five-year period ending April 30, 2026 is set forth below. Shareholders should note the relationship between the Average Annual Total Return with the Fund's Current Annualized Distribution Rate for 2026. The performance and distribution rate information disclosed in the table is based on the Fund's net asset value per share (NAV). The Fund's NAV is calculated as the total market value of all the securities and other assets held by the Fund minus the total liabilities, divided by the total number of shares outstanding. While NAV performance may be indicative of the Fund's investment performance, it does not measure the value of a shareholder's individual investment in the Fund. The value of a shareholder's investment in the Fund is determined by the Fund's market price, which is based on the supply and demand for the Fund's shares in the open market. 

Fund Performance and Distribution Rate Information:

Year-to-date January 1, 2026 to April 30, 2026                                                       

Year-to-date Cumulative Total Return1

14.66 %

Cumulative Distribution Rate2

3.34 %

Five-year period ending April 30, 2026

Average Annual Total Return3

5.29 %

Current Annualized Distribution Rate4

8.01 %

1.

Year-to-date Cumulative Total Return is the percentage change in the Fund's NAV over the year-to-date time period including distributions paid and assuming reinvestment of those distributions.

2.

Cumulative Distribution Rate for the Fund's current fiscal period (January 1, 2026 through May 31, 2026) measured on the dollar value of distributions in the year-to-date period as a percentage of the Fund's NAV as of April 30, 2026.

3.

Average Annual Total Return represents the compound average of the Annual NAV Total Returns of the Fund for the five-year period ending April 30, 2026. Annual NAV Total Return is the percentage change in the Fund's NAV over a year including distributions paid and assuming reinvestment of those distributions.

4.

The Current Annualized Distribution Rate is the current fiscal period's distribution rate annualized as a percentage of the Fund's NAV as of April 30, 2026.

Investors should consider the investment objectives, risks, charges and expense of the Fund carefully before investing. You can obtain the Fund's most recent periodic reports, when available, and other regulatory filings by contacting your financial advisor or visiting cohenandsteers.com. These reports and other filings can be found on the Securities and Exchange Commission's EDGAR Database. You should read these reports and other filings carefully before investing.

Shareholders should not use the information provided here in preparing their tax returns. Shareholders will receive a Form 1099-DIV for the calendar year indicating how to report Fund distributions for federal income tax purposes.

About Cohen & Steers. Cohen & Steers is a leading global investment manager specializing in real assets and alternative income, including listed and private real estate, preferred securities, infrastructure, resource equities, commodities, as well as multi-strategy solutions. Founded in 1986, the firm is headquartered in New York City, with offices in London, Dublin, Hong Kong, Tokyo and Singapore.  

Forward-Looking Statements
This press release and other statements that Cohen & Steers may make may contain forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which reflect the company's current views with respect to, among other things, its operations and financial performance. You can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "seeks," "approximately," "predicts," "intends," "plans," "estimates," "anticipates," or the negative versions of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties.

Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. The company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.

Website: https://www.cohenandsteers.com
Symbol: (NYSE: CNS)

SOURCE Cohen & Steers Quality Income Realty Fund, Inc.

, /PRNewswire/ -- This press release provides shareholders of Cohen & Steers REIT and Preferred and Income Fund, Inc. (NYSE: RNP) (the "Fund") with information regarding the sources of the distribution to be paid on May 29, 2026 and cumulative distributions paid fiscal year-to-date.

In December 2017, the Fund implemented a managed distribution policy in accordance with exemptive relief issued by the Securities and Exchange Commission. The managed distribution policy seeks to deliver the Fund's long-term total return potential through regular monthly distributions declared at a fixed rate per common share. The policy gives the Fund greater flexibility to realize long-term capital gains throughout the year and to distribute those gains on a regular monthly basis to shareholders. The Board of Directors of the Fund may amend, terminate or suspend the managed distribution policy at any time, which could have an adverse effect on the market price of the Fund's shares. 

The Fund's monthly distributions may include long-term capital gains, short-term capital gains, net investment income and/or return of capital for federal income tax purposes. Return of capital includes distributions paid by the Fund in excess of its net investment income and net realized capital gains and such excess is distributed from the Fund's assets. A return of capital is not taxable; rather, it reduces a shareholder's tax basis in his or her shares of the Fund. In addition, distributions from the Fund's investments in real estate investment trusts (REITs) may later be characterized as capital gains and/or a return of capital, depending on the character of the dividends reported to the Fund after year-end by REITs held by the Fund. The amount of monthly distributions may vary depending on a number of factors, including changes in portfolio and market conditions.

At the time of each monthly distribution, information will be posted to cohenandsteers.com and mailed to shareholders in a concurrent notice. However, this information may change at the end of the year because the final tax characteristics of the Fund's distributions cannot be determined with certainty until after the end of the calendar year. Final tax characteristics of all of the Fund's distributions will be provided on Form 1099-DIV, which is mailed after the close of the calendar year.

The following table sets forth the estimated amounts of the current distribution and the cumulative distributions paid this fiscal year-to-date from the sources indicated. All amounts are expressed per common share.

DISTRIBUTION ESTIMATES

May 2026

YEAR-TO-DATE (YTD)
May 31, 2026*

Source

Per Share
Amount

% of Current
Distribution

Per Share
Amount

% of 2026
Distributions

Net Investment Income

$0.0528

38.82 %

$0.3170

46.62 %

Net Realized Short-Term Capital Gains

$0.0000

0.00 %

$0.0386

5.68 %

Net Realized Long-Term Capital Gains

$0.0732

53.82 %

$0.2346

34.50 %

Return of Capital (or other Capital Source)

$0.0100

7.36 %

$0.0898

13.20 %

Total Current Distribution

$0.1360

100.00 %

$0.6800

100.00 %

You should not draw any conclusions about the Fund's investment performance from the amount of this distribution or from the terms of the Fund's managed distribution policy. The Fund estimates that it has distributed more than its income and capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund's investment performance and should not be confused with 'yield' or 'income'. The amounts and sources of distributions reported in this Notice are only estimates, are likely to change over time, and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for accounting and tax reporting purposes will depend upon the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The amounts and sources of distributions year-to-date may be subject to additional adjustments.

*THE FUND WILL SEND YOU A FORM 1099-DIV FOR THE CALENDAR YEAR THAT WILL TELL YOU HOW TO REPORT THESE DISTRIBUTIONS FOR FEDERAL INCOME TAX PURPOSES.

The Fund's Year-to-date Cumulative Total Return for fiscal year 2026 (January 1, 2026 through April 30, 2026) is set forth below. Shareholders should take note of the relationship between the Year-to-date Cumulative Total Return with the Fund's Cumulative Distribution Rate for 2026. In addition, the Fund's Average Annual Total Return for the five-year period ending April 30, 2026 is set forth below. Shareholders should note the relationship between the Average Annual Total Return with the Fund's Current Annualized Distribution Rate for 2026. The performance and distribution rate information disclosed in the table is based on the Fund's net asset value per share (NAV). The Fund's NAV is calculated as the total market value of all the securities and other assets held by the Fund minus the total liabilities, divided by the total number of shares outstanding. While NAV performance may be indicative of the Fund's investment performance, it does not measure the value of a shareholder's individual investment in the Fund. The value of a shareholder's investment in the Fund is determined by the Fund's market price, which is based on the supply and demand for the Fund's shares in the open market. 

Fund Performance and Distribution Rate Information:

Year-to-date January 1, 2026 to April 30, 2026

Year-to-date Cumulative Total Return1

9.61 %

Cumulative Distribution Rate2

3.09 %

Five-year period ending April 30, 2026

Average Annual Total Return3

5.02 %

Current Annualized Distribution Rate4

7.41 %

1.

Year-to-date Cumulative Total Return is the percentage change in the Fund's NAV over the year-to-date time period including distributions paid and assuming reinvestment of those distributions.

2.

Cumulative Distribution Rate for the Fund's current fiscal period (January 1, 2026 through May 31, 2026) measured on the dollar value of distributions in the year-to-date period as a percentage of the Fund's NAV as of April 30, 2026.

3.

Average Annual Total Return represents the compound average of the Annual NAV Total Returns of the Fund for the five-year period ending April 30, 2026. Annual NAV Total Return is the percentage change in the Fund's NAV over a year including distributions paid and assuming reinvestment of those distributions.

4.

The Current Annualized Distribution Rate is the current fiscal period's distribution rate annualized as a percentage of the Fund's NAV as of April 30, 2026.

Investors should consider the investment objectives, risks, charges and expense of the Fund carefully before investing. You can obtain the Fund's most recent periodic reports, when available, and other regulatory filings by contacting your financial advisor or visiting cohenandsteers.com. These reports and other filings can be found on the Securities and Exchange Commission's EDGAR Database. You should read these reports and other filings carefully before investing.

Shareholders should not use the information provided here in preparing their tax returns. Shareholders will receive a Form 1099-DIV for the calendar year indicating how to report Fund distributions for federal income tax purposes.

About Cohen & Steers. Cohen & Steers is a leading global investment manager specializing in real assets and alternative income, including listed and private real estate, preferred securities, infrastructure, resource equities, commodities, as well as multi-strategy solutions. Founded in 1986, the firm is headquartered in New York City, with offices in London, Dublin, Hong Kong, Tokyo and Singapore.  

Forward-Looking Statements
This press release and other statements that Cohen & Steers may make may contain forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which reflect the company's current views with respect to, among other things, its operations and financial performance. You can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "seeks," "approximately," "predicts," "intends," "plans," "estimates," "anticipates," or the negative versions of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties.

Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. The company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.

Website: https://www.cohenandsteers.com
Symbol: (NYSE: CNS)

SOURCE Cohen & Steers REIT and Preferred Income Fund, Inc.

Whitehawk Therapeutics Presents Real‑World Analysis Confirming SEZ6 as a Highly Expressed, Clinically Relevant Target for SCLC and Other Neur

Johnson and Johnson presents new data further reinforcing the role of nipocalimab in lowering the autoantibodies driving Sjögren's disease

Biotech Is Heating Up—These 2 Red-Hot Stocks Stand OutAxsome Therapeutics NASDAQ: AXSM executives said the company is preparing to launch Auvelity in Alzheimer’s disease agitation this month while continuing to expand the drug’s use in major depressive disorder and advance a broad central nervous system pipeline.

Speaking at a Jefferies fireside chat, Chief Operating Officer Mark Jacobson said Axsome now has three commercial products approved for four indications: Auvelity for major depressive disorder and Alzheimer’s disease agitation, Sunosi for excessive daytime sleepiness in narcolepsy or obstructive sleep apnea, and SYMBRAVO for the acute treatment of migraine in adults.

Get Axsome Therapeutics alerts:

5 medical stocks growing earnings by triple digitsJacobson said the company’s near-term commercial focus is the Alzheimer’s disease agitation launch for Auvelity, along with continued growth in major depressive disorder, Sunosi and SYMBRAVO. He said Axsome’s pipeline includes six product candidates across 10 indications in psychiatry and neurology.

Auvelity Launch Expands Into Alzheimer’s Disease Agitation Jacobson said the Alzheimer’s disease agitation launch is “on track” for this month. Because Auvelity is already available, he said the launch primarily involves completing training, initiating sales-force detailing and educational efforts, and deploying marketing materials.

Struggling Axsome Stock Could Bounce Back on Drug Trial SuccessAxsome recently raised its peak sales guidance for Auvelity to $8 billion. Chief Financial Officer Nick Pizzie said the estimate incorporates potential Medicare drug price negotiation under the Inflation Reduction Act, which he said could affect Auvelity in 2031 or 2032.

Pizzie said Axsome’s current capital deployment is focused on driving top-line revenue growth, particularly through the sales force. He said the company has expanded its Auvelity team from roughly 300 representatives to about 630.

Jacobson highlighted Auvelity’s label in Alzheimer’s disease agitation, citing data showing separation from placebo beginning at week two in a parallel group trial and durable efficacy in a randomized withdrawal study. He said the label includes no boxed warning for the patient population and described the most common adverse reactions as dizziness and dyspepsia.

Jacobson said there are more than 20 million prescriptions written in the Alzheimer’s disease agitation setting, with more than 95% of current use off label. He said Axsome views Auvelity as a potential first-line therapy based on discussions with key opinion leaders and the product’s access position.

Management Points to Market Access and Sales Expansion In major depressive disorder, Jacobson said Auvelity’s current run rate is about $600 million. Pizzie said Axsome has achieved that with a relatively small historical field force, minimal mass-media direct-to-consumer advertising and improving market access.

Pizzie said Auvelity has 86% covered lives, with 56% first-line or first-switch coverage. He said Auvelity represented about 22 basis points of the total antidepressant market at the end of the first quarter, up more than 50% from the prior-year period. New-to-brand prescription share was about 30 to 32 basis points, which he called a leading indicator.

Pizzie also said approval in Alzheimer’s disease agitation opens long-term care facilities as a new commercial segment, including patients with depression in that setting. He said Axsome had previously avoided calling on long-term care facilities to reduce the risk of off-label promotion.

On gross-to-net pricing, Pizzie said the company started the first quarter in the low 50% range, improved from the mid-50% range a year earlier. He said Axsome ended the fourth quarter of 2025 in the upper 40% range and expects a similar improvement trajectory in 2026 versus 2025. For Alzheimer’s disease agitation, he said at least 80% of patients are expected to be covered by Medicare Part D, which could further improve gross-to-net.

Long-Term Care Seen as Important, but Potentially Gradual Jacobson said current Alzheimer’s disease agitation prescription trends are roughly 60% in community settings and 40% in long-term care, with primary care accounting for about 35% of prescriptions. Pizzie said 75% of Alzheimer’s disease agitation patients are expected not to require prior authorization, which he said is important for primary care adoption.

Management cautioned that long-term care adoption may not follow the same pattern as community prescribing. Jacobson said facilities often make product decisions across multiple stakeholders, including pharmacy, directors of nursing and prescribers, which can take time. He said Axsome typically expects meaningful impact from a sales force expansion one to two quarters after completion and expects to see impact in the second half of the year.

Pizzie said early signs from the field force expansion have been positive, with new-to-brand prescriptions rising almost 20% over recent weeks, from about 2,700 per week to roughly 3,200 per week.

Pipeline Updates Include Smoking Cessation, Sleep and Psychiatry Jacobson said Axsome plans to start a study of Auvelity’s development compound, AXS-05, in smoking cessation in the second quarter. He said the rationale includes unmet need, mechanistic relevance and supporting clinical and nonclinical evidence.

For solriamfetol, marketed as Sunosi, Jacobson said Axsome is pursuing four additional indications in active Phase 3 development:

Attention deficit hyperactivity disorder, with two Phase 3 trials in children and adolescents expected to start this quarter after a positive adult study. Major depressive disorder in patients with excessive sleepiness, with a study underway. Shift work disorder, with topline data expected next year. Binge eating disorder, with Phase 3 topline results expected later this year. For binge eating disorder, Jacobson said Axsome is looking for a positive study and would expect to run a second study before moving forward. For shift work disorder, he said the company expects only one positive study would be needed for a potential submission, based on FDA feedback that the indication is related to Sunosi’s currently approved indications.

Jacobson said Axsome has submitted a new drug application for AXS-12 in narcolepsy, specifically cataplexy in narcolepsy, and expects to announce the FDA’s acceptance decision this year. If approved, he said AXS-12 would be complementary to Sunosi and synergistic with Axsome’s existing sleep commercial infrastructure. Pizzie said adding AXS-12 to the existing sleep sales team would require little additional operating expense beyond limited marketing costs.

Jacobson also said Axsome continues to enroll a Phase 3 trial for AXS-14 and is conducting trial-enabling work and tech transfer for two newer candidates, AXS-17 for epilepsy and AXS-20 for schizophrenia.

About Axsome Therapeutics NASDAQ: AXSMAxsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.

Axsome's pipeline includes several late-stage and approved product candidates.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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Resources Investor Relations Journalists Agencies Client Login Send a Release News Products Contact , /PRNewswire/ -- Cohen & Steers, Inc. (NYSE: CNS) today reported preliminary assets under management of $99.5 billion as of May 31, 2026, a decrease of $645 million from assets under management of $100.1 billion at April 30, 2026. The decrease was due to market depreciation of $592 million and distributions of $154 million, partially offset by net inflows of $101 million.

Assets Under Management
(unaudited)

($ in millions)

AUM

  Net

Market

 AUM

By investment vehicle:

4/30/2026

  Flows

App/(Dep)

Distributions

 5/31/2026

Institutional Accounts:

  Advisory

$22,918

($1)

($219)

-

$22,698

  Subadvisory

15,938

(87)

(89)

(50)

15,712

Total Institutional Accounts

38,856

(88)

(308)

(50)

38,410

Open-end Funds

48,506

189

(191)

(48)

48,456

Closed-end Funds

12,738

-

(93)

(56)

12,589

Total AUM

$100,100

$101

($592)

($154)

$99,455

About Cohen & Steers. Cohen & Steers is a leading global investment manager specializing in real assets and alternative income, including listed and private real estate, preferred securities, infrastructure, resource equities, commodities, as well as multi-strategy solutions. Founded in 1986, the firm is headquartered in New York City, with offices in London, Dublin, Hong Kong, Tokyo and Singapore.

SOURCE Cohen & Steers, Inc.

, /PRNewswire/ -- The Board of Directors of the Cohen & Steers Quality Income Realty Fund, Inc. (the "Fund") announced today the monthly distributions for July, August and September 2026, as summarized in the charts below:

Ticker

Fund Name

Monthly Dividend

RQI

Cohen & Steers Quality Income Realty Fund, Inc.

$0.090

The distribution will be made on the following schedule:

Month

Ex-Dividend/ Record Date

Payable Date

July

Jul. 6, 2026

Jul. 31, 2026

August

Aug. 11, 2026

Aug. 31, 2026

September

Sept. 8, 2026

Sept. 30, 2026

The Fund declared its monthly distribution pursuant to the Fund's managed distribution plan. The Fund implemented a managed distribution policy in accordance with exemptive relief issued by the Securities and Exchange Commission. The policy gives the Fund greater flexibility to realize long-term capital gains throughout the year and to distribute those gains on a regular monthly basis to shareholders. Information can also be found on the Funds' website at cohenandsteers.com. The Board of Directors of the Fund may amend, terminate or suspend the managed distribution policy at any time, which could have an adverse effect on the market price of the Fund's shares.

Distributions of the Fund's investment in real estate investment trusts (REITs), master limited partnerships (MLPs) and/or closed-end funds (CEFs), if any, may later be characterized as capital gains and/or a return of capital, depending on the character of the dividends reported to the Fund after year-end by the REITs, MLPs and CEFs held by the Fund.

The Fund's distributions may include net investment income, long-term capital gains, short-term capital gains and/or return of capital. Under the plan, prior to the payment date of the distribution every month, the Fund will issue a press release and a notice containing information about the amount and sources of the distribution and other related information to shareholders of record on the record date. Please note that the notice is not provided for tax reporting purposes but for informational purposes only. Information can also be found on the Fund's website at cohenandsteers.com.

Shareholders should not use the information provided in preparing their tax returns. Shareholders will receive a Form 1099-DIV for the calendar year indicating how to report Fund distributions for federal income tax purposes.

Investors should consider the investment objectives, risks, charges and expense of a fund carefully before investing. You can obtain the Fund's most recent periodic reports, when available, and other regulatory filings by contacting your financial advisor or visiting cohenandsteers.com. These reports and other filings can be found on the Securities and Exchange Commission's EDGAR Database. You should read these reports and other filings carefully before investing.

About Cohen & Steers. Cohen & Steers is a leading global investment manager specializing in real assets and alternative income, including listed and private real estate, preferred securities, infrastructure, resource equities, commodities, as well as multi-strategy solutions. Founded in 1986, the firm is headquartered in New York City, with offices in London, Dublin, Hong Kong, Tokyo and Singapore.

Forward-Looking Statements
This press release and other statements that Cohen & Steers may make may contain forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which reflect the company's current views with respect to, among other things, its operations and financial performance. You can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "seeks," "approximately," "predicts," "intends," "plans," "estimates," "anticipates," or the negative versions of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties.

Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. The company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.

Website: https://www.cohenandsteers.com/
Symbol: (NYSE: CNS)

SOURCE Cohen & Steers Quality Income Realty Fund, Inc.

ADI reported second-quarter revenue of $3.62 billion, up 37% from a year earlier and above the analyst consensus estimate of $3.51 billion. Adjusted earnings came in at $3.09 per share, topping Wall Street estimates of $2.90 per share.

For the fiscal third quarter, ADI forecast revenue of $3.80 billion to $4.00 billion, above analyst estimates of $3.62 billion. The company also projected adjusted earnings of $3.15 to $3.45 per share, ahead of the Street consensus estimate of $3.00 per share.

Analog Devices shares fell 3% to trade at $386.28 on Thursday.

These analysts made changes to their price targets on Analog Devices following earnings announcement.

Considering buying ADI stock? Here’s what analysts think:

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, /PRNewswire/ -- Analog Devices, Inc. (NASDAQ: ADI) today announced that the Company's Executive Vice President & Chief Financial Officer, Richard Puccio, will discuss business topics and trends at the Bank of America Global Technology Conference, located in San Francisco, California on Tuesday, June 2, at 10:00 a.m. PST.

The webcast for the conference may be accessed live via the Investor Relations section of Analog Devices' website at Investor Relations. An archived replay will also be available following the webcast for at least 30 days.

About Analog Devices, Inc.
Analog Devices, Inc. (NASDAQ: ADI) is a global semiconductor leader that bridges the physical and digital worlds to enable breakthroughs at the Intelligent Edge. ADI combines analog, digital, AI, and software technologies into solutions that combat climate change, reliably connect humans and the world, and help drive advancements in automation and robotics, mobility, healthcare, energy and data centers. With revenue of more than $11 billion in FY25, ADI ensures today's innovators stay Ahead of What's Possible. Learn more at www.analog.com and on LinkedIn and X.

Media Contact
Jeff Ambrosi
781-461-3282
Senior Director, Investor Relations, Analog Devices, Inc.

SOURCE Analog Devices, Inc.

Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?

Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about Analog Devices (ADI - Free Report) .

Analog Devices currently has an average brokerage recommendation (ABR) of 1.44, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by 32 brokerage firms. An ABR of 1.44 approximates between Strong Buy and Buy.

Of the 32 recommendations that derive the current ABR, 23 are Strong Buy and four are Buy. Strong Buy and Buy respectively account for 71.9% and 12.5% of all recommendations.

Brokerage Recommendation Trends for ADI

Check price target & stock forecast for Analog Devices here>>>

While the ABR calls for buying Analog Devices, it may not be wise to make an investment decision solely based on this information. Several studies have shown limited to no success of brokerage recommendations in guiding investors to pick stocks with the best price increase potential.

Do you wonder why? As a result of the vested interest of brokerage firms in a stock they cover, their analysts tend to rate it with a strong positive bias. According to our research, brokerage firms assign five "Strong Buy" recommendations for every "Strong Sell" recommendation.

In other words, their interests aren't always aligned with retail investors, rarely indicating where the price of a stock could actually be heading. Therefore, the best use of this information could be validating your own research or an indicator that has proven to be highly successful in predicting a stock's price movement.

With an impressive externally audited track record, our proprietary stock rating tool, the Zacks Rank, which classifies stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), is a reliable indicator of a stock's near-term price performance. So, validating the Zacks Rank with ABR could go a long way in making a profitable investment decision.

ABR Should Not Be Confused With Zacks RankIn spite of the fact that Zacks Rank and ABR both appear on a scale from 1 to 5, they are two completely different measures.

The ABR is calculated solely based on brokerage recommendations and is typically displayed with decimals (example: 1.28). In contrast, the Zacks Rank is a quantitative model allowing investors to harness the power of earnings estimate revisions. It is displayed in whole numbers -- 1 to 5.

Analysts employed by brokerage firms have been and continue to be overly optimistic with their recommendations. Since the ratings issued by these analysts are more favorable than their research would support because of the vested interest of their employers, they mislead investors far more often than they guide.

On the other hand, earnings estimate revisions are at the core of the Zacks Rank. And empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

Furthermore, the different grades of the Zacks Rank are applied proportionately across all stocks for which brokerage analysts provide earnings estimates for the current year. In other words, at all times, this tool maintains a balance among the five ranks it assigns.

Another key difference between the ABR and Zacks Rank is freshness. The ABR is not necessarily up-to-date when you look at it. But, since brokerage analysts keep revising their earnings estimates to account for a company's changing business trends, and their actions get reflected in the Zacks Rank quickly enough, it is always timely in indicating future price movements.

Should You Invest in ADI?In terms of earnings estimate revisions for Analog Devices, the Zacks Consensus Estimate for the current year has increased 6.3% over the past month to $12.06.

Analysts' growing optimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher, could be a legitimate reason for the stock to soar in the near term.

The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #2 (Buy) for Analog Devices. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Therefore, the Buy-equivalent ABR for Analog Devices may serve as a useful guide for investors.

Investors might want to bet on Analog Devices (ADI - Free Report) , as earnings estimates for this company have been showing solid improvement lately. The stock has already gained solid short-term price momentum, and this trend might continue with its still improving earnings outlook.

The rising trend in estimate revisions, which is a result of growing analyst optimism on the earnings prospects of this semiconductor maker, should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. This insight is at the core of our stock rating tool -- the Zacks Rank.

The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008.

For Analog Devices, strong agreement among the covering analysts in revising earnings estimates upward has resulted in meaningful improvement in consensus estimates for the next quarter and full year.

The chart below shows the evolution of forward 12-month Zacks Consensus EPS estimate:

12 Month EPS

Current-Quarter Estimate RevisionsThe company is expected to earn $3.19 per share for the current quarter, which represents a year-over-year change of +55.6%.

Over the last 30 days, the Zacks Consensus Estimate for Analog Devices has increased 10.55% because five estimates have moved higher compared to no negative revisions.

Current-Year Estimate RevisionsFor the full year, the company is expected to earn $12.31 per share, representing a year-over-year change of +58.0%.

The revisions trend for the current year also appears quite promising for Analog Devices, with 10 estimates moving higher over the past month compared to no negative revisions. The consensus estimate has also received a boost over this time frame, increasing 8.49%.

Favorable Zacks RankThanks to promising estimate revisions, Analog Devices currently carries a Zacks Rank #2 (Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision.

You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500.

Bottom LineInvestors have been betting on Analog Devices because of its solid estimate revisions, as evident from the stock's 9.6% gain over the past four weeks. As its earnings growth prospects might push the stock higher, you may consider adding it to your portfolio right away.

Analog Devices, Inc. (ADI) Presents at Bank of America 2026 Global Technology Conference Transcript

United States Representative Josh Gottheimer, a Democrat from New Jersey, just disclosed a wave of fresh stock purchases, and among them, four are direct bets on the Artificial Intelligence (AI) chip industry.

The congressmen purchased Advanced Micro Devices, Inc. (NASDAQ: AMD), Micron Technology, Inc. (NASDAQ: MU), Analog Devices, Inc. (NASDAQ: ADI), and Fabrinet (NYSE: FN), according to a filing with the Clerk of the U.S. House of Representatives on June 3, 2026, and analyzed by Finbold on June 4. The purchases were executed between May 1 and May 21, 2026, in accordance with the Stock Act.

Each of Gottheimer’s four AI chip purchases fell within the same bracket of between $1,001 and $15,000. Gottheimer’s AI chip buys are notable given his seat on the House Financial Services subcommittee overseeing artificial intelligence.

All four companies are core suppliers to the AI boom. Notably, Micro Devices builds the processors that train AI models, and Micron makes the high-bandwidth memory those chips rely on. Meanwhile, Analog Devices supplies the power and signal chips that keep data centers running, while Fabrinet manufactures the optical components that link AI servers.

Market performance of these 4 AI chip stocks Since Gottheimer purchased Micron Technology earlier last month, MU stock has surged over 59%, trading at $1,023.44 at press time. As such, the company had a market capitalization of around $1.2 trillion on Thursday.

MU stock 30-day chart. Source: Finbold Over the past 30 days, Advanced Micro Devices stock has surged by more than 48%, trading at approximately $525.86 at the time of publication. As a result, the company’s market cap climbed to hover above $884.6 billion.

AMD stock 30-day chart. Source: Finbold During the same period, ADI stock has gained 6.13%, trading at $429 at press time. Consequently, Analog Devices had a market valuation of about $213.2 billion.

ADI stock 30-day chart. Source: Finbold Meanwhile, FN stock has added 9.5% over the past 30 days, trading at $723.04 at the time of reporting. The company’s market cap hovered around $26 billion.

FN stock 30-day chart. Source: Finbold Gottheimer could be betting on continued global demand for AI, with these four stocks well positioned to gain traction in the near term.

​

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Analog Devices ADI shares have climbed 77.4% in a year, outperforming the Zacks Computer and Technology sector's appreciation of 43.5%. The rise in stock price is due to the restoration of investors' confidence in a broad-based recovery in ADI's industrial segment and AI-related data center demand, driving higher utilization and a favorable mix.

Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?

Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about Analog Devices (ADI - Free Report) .

Analog Devices currently has an average brokerage recommendation (ABR) of 1.44, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by 32 brokerage firms. An ABR of 1.44 approximates between Strong Buy and Buy.

Of the 32 recommendations that derive the current ABR, 23 are Strong Buy and four are Buy. Strong Buy and Buy respectively account for 71.9% and 12.5% of all recommendations.

Brokerage Recommendation Trends for ADI

Check price target & stock forecast for Analog Devices here>>>

The ABR suggests buying Analog Devices, but making an investment decision solely on the basis of this information might not be a good idea. According to several studies, brokerage recommendations have little to no success guiding investors to choose stocks with the most potential for price appreciation.

Are you wondering why? The vested interest of brokerage firms in a stock they cover often results in a strong positive bias of their analysts in rating it. Our research shows that for every "Strong Sell" recommendation, brokerage firms assign five "Strong Buy" recommendations.

In other words, their interests aren't always aligned with retail investors, rarely indicating where the price of a stock could actually be heading. Therefore, the best use of this information could be validating your own research or an indicator that has proven to be highly successful in predicting a stock's price movement.

Zacks Rank, our proprietary stock rating tool with an impressive externally audited track record, categorizes stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), and is an effective indicator of a stock's price performance in the near future. Therefore, using the ABR to validate the Zacks Rank could be an efficient way of making a profitable investment decision.

ABR Should Not Be Confused With Zacks RankIn spite of the fact that Zacks Rank and ABR both appear on a scale from 1 to 5, they are two completely different measures.

Broker recommendations are the sole basis for calculating the ABR, which is typically displayed in decimals (such as 1.28). The Zacks Rank, on the other hand, is a quantitative model designed to harness the power of earnings estimate revisions. It is displayed in whole numbers -- 1 to 5.

Analysts employed by brokerage firms have been and continue to be overly optimistic with their recommendations. Since the ratings issued by these analysts are more favorable than their research would support because of the vested interest of their employers, they mislead investors far more often than they guide.

In contrast, the Zacks Rank is driven by earnings estimate revisions. And near-term stock price movements are strongly correlated with trends in earnings estimate revisions, according to empirical research.

In addition, the different Zacks Rank grades are applied proportionately to all stocks for which brokerage analysts provide current-year earnings estimates. In other words, this tool always maintains a balance among its five ranks.

Another key difference between the ABR and Zacks Rank is freshness. The ABR is not necessarily up-to-date when you look at it. But, since brokerage analysts keep revising their earnings estimates to account for a company's changing business trends, and their actions get reflected in the Zacks Rank quickly enough, it is always timely in indicating future price movements.

Should You Invest in ADI?Looking at the earnings estimate revisions for Analog Devices, the Zacks Consensus Estimate for the current year has increased 9.4% over the past month to $12.41.

Analysts' growing optimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher, could be a legitimate reason for the stock to soar in the near term.

The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #2 (Buy) for Analog Devices. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Therefore, the Buy-equivalent ABR for Analog Devices may serve as a useful guide for investors.

© Vadi Fuoco / Shutterstock.com

Gabelli Equity Trust (NYSE:GAB) has quietly become one of the most beloved income vehicles among retail investors, and the math behind that loyalty is straightforward: a 9.5% annualized yield paid quarterly, a founder who keeps buying shares with his own money, and a recent rights offering oversubscribed by more than $117 million. The question income investors actually need answered is whether that yield is real money or a slow return of their own capital dressed up as income.

Gabelli Equity Trust is a closed-end management investment company launched in August 1986 with $2.1 billion in net assets. Shares trade around $6, down 7% year to date but up 17% over the past year.

How the Distribution Actually Gets Funded GAB runs a managed minimum distribution policy targeting 10% of average net asset value annually, paid out as $0.15 per share each quarter. That rate has held for 16 consecutive quarters going back to Q1 2022. The fund held quarterly payments steady through the 2008 crisis and the 2020 pandemic, which matters because most CEFs with similar yields have cut at least once in that window.

The funding source is where readers need to pay attention. Unlike an equity ETF that passes through underlying dividends, GAB’s distribution is funded by a combination of portfolio dividend income, realized capital gains, and, when needed, return of capital. The fund uses preferred shares for leverage and holds at least 80% of assets in equities, so the distribution ultimately depends on the total return of a concentrated portfolio of quality compounders.

The Holdings Doing the Heavy Lifting The top of the book reads like a value investor’s wish list: Berkshire Hathaway, AMETEK, American Express, Mastercard, Deere, Curtiss-Wright, Rolls-Royce, O’Reilly Automotive, Republic Services, and Rollins. Sector weights lean into Financial Services at 14%, Equipment and Supplies at 9%, and Food and Beverage at 7%.

The underlying book skews toward low-yielders: Berkshire pays nothing, Mastercard yields under 1%, and O’Reilly returns cash through buybacks rather than dividends. That tells you everything about how GAB generates its 9.5% payout: the fund sells appreciated positions and distributes the gains. When markets cooperate, this works beautifully. When they do not, distributions can come partially from return of capital, which is effectively your own money handed back to you with a tax-efficient wrapper.

Signals Pointing Toward Durability Insider and institutional behavior has been unusually loud. Founder Mario Gabelli purchased 500,000 shares in December 2025 for roughly $5 million, with additional buying in early 2026. Envestnet Asset Management increased its stake by 762%, and J.W. Cole Advisors added 75% to its position. Founders buying $5 million of their own fund is a meaningful signal.

The Counterargument Worth Hearing Critics have grounds. The expense ratio runs 1.6%, steep compared with passive equity funds. A February 2025 Seeking Alpha analysis flagged underperformance versus the S&P 500 over five years and reliance on unrealized gains. With the 10-year Treasury near 4%, the spread GAB offers over risk-free income has narrowed.

The Verdict The $0.15 quarterly payout looks safe based on policy commitment, distribution history through two crises, and the quality of the underlying book. The riskier assumption is that the full 9.5% represents pure income. A portion will be return of capital in flat or down years, which erodes NAV over time. GAB makes sense for retail income investors who understand CEF mechanics and want predictable cash flow from a leveraged value portfolio. It makes less sense for anyone expecting the yield and the principal to both grow untouched.

First quarter comparable store sales growth of 8.1%16% increase in first quarter diluted earnings per share to $0.72$1 billion net cash provided by operating activities year-to-date
SPRINGFIELD, Mo., April 29, 2026 (GLOBE NEWSWIRE) -- O’Reilly Automotive, Inc. (the “Company” or “O’Reilly”) (Nasdaq: ORLY), a leading retailer in the automotive aftermarket industry, today announced record revenue and earnings for its first quarter ended March 31, 2026.

1st Quarter Financial Results

Brad Beckham, O’Reilly’s CEO, commented, “We are pleased to report a strong start to 2026, highlighted by an 8.1% increase in comparable store sales and a 16% increase in our first quarter diluted earnings per share. Team O’Reilly delivered comparable store sales results exceeding our expectations in both professional and DIY, with double-digit growth in our professional business and mid-single digit growth in DIY. Our ability to drive productivity in our business and translate robust sales growth into a 14% increase in operating profit is the direct result of our Team’s focus on prudent expense management. I would like to thank all of our Team Members for their incredible hard work in the first quarter and their relentless focus on providing unsurpassed service to our customers each and every day. We look forward to the opportunities we have to grow our market share in 2026 and are encouraged by the stable demand backdrop in our industry.”

Sales for the first quarter of 2026 increased $424 million, or 10%, to $4.56 billion from $4.14 billion for the same period one year ago. Gross profit for the first quarter of 2026 increased 11% to $2.35 billion (or 51.5% of sales) from $2.12 billion (or 51.3% of sales) for the same period one year ago. Selling, general and administrative expenses for the first quarter of 2026 increased 9% to $1.51 billion (or 33.0% of sales) from $1.38 billion (or 33.4% of sales) for the same period one year ago. Operating income for the first quarter of 2026 increased 14% to $842 million (or 18.5% of sales) from $741 million (or 17.9% of sales) for the same period one year ago.

Net income for the first quarter of 2026 increased $66 million, or 12%, to $604 million (or 13.2% of sales) from $538 million (or 13.0% of sales) for the same period one year ago. Diluted earnings per common share for the first quarter of 2026 increased 16% to $0.72 on 843 million shares versus $0.62 on 864 million shares for the same period one year ago.

1st Quarter Comparable Store Sales Results

Comparable store sales are calculated based on the change in sales for U.S. stores open at least one year and exclude sales of specialty machinery, sales to independent parts stores, and sales to Team Members. Online sales for ship-to-home orders and pick-up-in-store orders for U.S. stores open at least one year are included in the comparable store sales calculation. Comparable store sales increased 8.1% for the first quarter ended March 31, 2026, on top of 3.6% for the same period one year ago.

Share Repurchase Program

During the first quarter ended March 31, 2026, the Company repurchased 10.0 million shares of its common stock, at an average price per share of $92.45, for a total investment of $923 million. Excise tax on shares repurchased, assessed at one percent of the fair market value of shares repurchased, was $9.2 million for the three months ended March 31, 2026. Subsequent to the end of the first quarter and through the date of this release, the Company repurchased an additional 3.6 million shares of its common stock, at an average price per share of $92.83, for a total investment of $338 million. The Company has repurchased a total of 1.48 billion shares of its common stock under its share repurchase program since the inception of the program in January of 2011 and through the date of this release, at an average price of $19.38, for a total aggregate investment of $28.61 billion. As of the date of this release, the Company had approximately $1.14 billion remaining under its current share repurchase authorization.

Updated Full-Year 2026 Guidance

The table below outlines the Company’s updated guidance for selected full-year 2026 financial data:

     For the Year Ending  December 31, 2026Net, new store openings 225 to 235Comparable store sales 3.0% to 5.0%Total revenue $18.7 billion to $19.0 billionGross profit as a percentage of sales 51.5% to 52.0%Operating income as a percentage of sales 19.3% to 19.8%Effective income tax rate 22.6%
Diluted earnings per share(1) $3.15 to $3.25Net cash provided by operating activities $3.1 billion to $3.5 billionCapital expenditures $1.3 billion to $1.4 billionFree cash flow(2) $1.8 billion to $2.1 billion (1)Weighted-average shares outstanding, assuming dilution, used in the denominator of this calculation, includes share repurchases made by the Company through the date of this release.(2)Free cash flow is a non-GAAP financial measure. The table below reconciles Free cash flow guidance to Net cash provided by operating activities guidance, the most directly comparable GAAP financial measure:               For the Year Ending (in millions) December 31, 2026 Net cash provided by operating activities $3,110 to $3,520 Less:Capital expenditures  1,300 to  1,400  Excess tax benefit from share-based compensation payments  10 to  20 Free cash flow $1,800 to $2,100           Non-GAAP Information

This release contains certain financial information not derived in accordance with United States generally accepted accounting principles (“GAAP”). These items include adjusted debt to earnings before interest, taxes, depreciation, amortization, share-based compensation, and rent (“EBITDAR”) and free cash flow. The Company does not, nor does it suggest investors should, consider such non-GAAP financial measures in isolation from, or as a substitute for, GAAP financial information. The Company believes that the presentation of adjusted debt to EBITDAR and free cash flow provide meaningful supplemental information to both management and investors that is indicative of the Company’s core operations. The Company has included a reconciliation of this additional information to the most comparable GAAP measure in the table above and the selected financial information below.

Earnings Conference Call Information

The Company will host a conference call on Thursday, April 30, 2026, at 10:00 a.m. Central Time to discuss its results as well as future expectations. Investors may listen to the conference call live on the Company’s website at www.OReillyAuto.com by clicking on “Investor Relations.” Interested analysts are invited to join the call. The dial-in number for the call is (888) 506-0062 and the conference call identification number is 264620. A replay of the conference call will be available on the Company’s website through Thursday, April 29, 2027.

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, 2026, the Company operated 6,644 stores across 48 U.S. states, Puerto Rico, Mexico, and Canada.

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,” “guidance,” “target,” 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; consumer debt levels; product demand; a public health crisis; the market for auto parts; competition; weather; trade disputes and changes in trade policies, including the imposition of new or increased tariffs; availability of key products and supply chain disruptions; business interruptions, including terrorist activities, war and the threat of war; failure to protect our brand and reputation; challenges in international markets; volatility of the market price of our common stock; our increased debt levels; credit ratings on public debt; damage, failure, or interruption of information technology systems, including information security and cyber-attacks; historical growth rate sustainability; our ability to hire and retain qualified employees; risks associated with the performance of acquired businesses; and governmental regulations. 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, 2025, and subsequent Securities and Exchange Commission filings, 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 Relations Contacts Leslie Skorick (417) 874-7142 Eric Bird (417) 868-4259   Media Contact Sonya Cox (417) 427-8071    O’REILLY AUTOMOTIVE, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except share data)            March 31, 2026 March 31, 2025 December 31, 2025  (Unaudited) (Unaudited) (Note)Assets         Current assets:         Cash and cash equivalents $252,632  $191,248  $193,793 Accounts receivable, net  431,173   392,168   389,793 Amounts receivable from suppliers  165,033   129,921   159,900 Inventory  5,810,121   5,172,436   5,731,385 Other current assets  308,377   143,694   269,406 Total current assets  6,967,336   6,029,467   6,744,277           Property and equipment, at cost  10,440,524   9,450,387   10,222,249 Less: accumulated depreciation and amortization  4,065,527   3,684,666   3,964,824 Net property and equipment  6,374,997   5,765,721   6,257,425           Operating lease, right-of-use assets  2,450,393   2,374,177   2,391,150 Goodwill  953,035   933,130   948,208 Other assets, net  191,417   191,380   197,193 Total assets $16,937,178  $15,293,875  $16,538,253           Liabilities and shareholders’ deficit         Current liabilities:         Accounts payable $7,237,126  $6,535,532  $7,103,684 Self-insurance reserves  321,896   154,013   297,304 Accrued payroll  152,357   132,965   119,603 Accrued benefits and withholdings  256,015   214,547   240,072 Income taxes payable  6,996   137,142   13,957 Current portion of operating lease liabilities  445,416   425,330   439,907 Other current liabilities  804,462   910,977   561,294 Total current liabilities  9,224,268   8,510,506   8,775,821           Long-term debt  6,195,311   5,651,821   6,016,904 Operating lease liabilities, less current portion  2,090,498   2,026,668   2,034,688 Deferred income taxes  224,411   236,572   211,210 Other liabilities  269,745   225,764   262,982           Shareholders’ equity (deficit):         Common stock, $0.01 par value:         Authorized shares – 1,250,000,000         Issued and outstanding shares –         832,292,716 as of March 31, 2026,         856,702,725 as of March 31, 2025, and         841,909,238 as of December 31, 2025  8,323   8,567   8,419 Additional paid-in capital  1,537,430   1,476,741   1,530,292 Retained deficit  (2,638,068)  (2,805,929)  (2,328,817)Accumulated other comprehensive income (loss)  25,260   (36,835)  26,754 Total shareholders’ deficit  (1,067,055)  (1,357,456)  (763,352)          Total liabilities and shareholders’ deficit $16,937,178  $15,293,875  $16,538,253               Note: The balance sheet at December 31, 2025, has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by United States generally accepted accounting principles for complete financial statements.

 O’REILLY AUTOMOTIVE, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)
(In thousands, except per share data)         For the Three Months Ended  March 31,  2026  2025 Sales $4,560,539  $4,136,924 Cost of goods sold, including warehouse and distribution expenses  2,213,328   2,015,439 Gross profit  2,347,211   2,121,485        Selling, general and administrative expenses  1,505,603   1,380,019 Operating income  841,608   741,466        Other income (expense):      Interest expense  (62,745)  (57,564)Interest income  1,748   1,664 Other, net  (522)  (1,215)Total other expense  (61,519)  (57,115)       Income before income taxes  780,089   684,351 Provision for income taxes  175,908   145,866 Net income $604,181  $538,485        Earnings per share-basic:      Earnings per share $0.72  $0.63 Weighted-average common shares outstanding – basic  838,578   859,564        Earnings per share-assuming dilution:      Earnings per share $0.72  $0.62 Weighted-average common shares outstanding – assuming dilution  842,516   864,331            O’REILLY AUTOMOTIVE, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
(In thousands)         For the Three Months Ended  March 31,  2026  2025 Operating activities:      Net income $604,181  $538,485 Adjustments to reconcile net income to net cash provided by operating activities:      Depreciation and amortization of property, equipment and intangibles  135,361   122,224 Amortization of debt discount and issuance costs  1,887   1,851 Deferred income taxes  13,291   (11,159)Share-based compensation programs  8,816   8,444 Other  1,987   3,191 Changes in operating assets and liabilities:      Accounts receivable  (45,716)  (37,758)Inventory  (79,069)  (75,081)Accounts payable  135,531   9,952 Income taxes payable  951   138,513 Other  255,693   56,458 Net cash provided by operating activities  1,032,913   755,120        Investing activities:      Purchases of property and equipment  (244,447)  (286,951)Proceeds from sale of property and equipment  1,542   1,948 Other, including acquisitions, net of cash acquired  (1,751)  — Net cash used in investing activities  (244,656)  (285,003)       Financing activities:      Net (payments) proceeds of commercial paper  (163,887)  129,288 Proceeds from the issuance of long-term debt  847,365   — Principal payments on long-term debt  (500,000)  — Payment of debt issuance costs  (5,909)  (3,801)Repurchases of common stock  (922,947)  (559,432)Net proceeds from issuance of common stock  16,609   24,926 Other  (270)  (433)Net cash used in financing activities  (729,039)  (409,452)       Effect of exchange rate changes on cash  (379)  338 Net increase in cash and cash equivalents  58,839   61,003 Cash and cash equivalents at beginning of the period  193,793   130,245 Cash and cash equivalents at end of the period $252,632  $191,248        Supplemental disclosures of cash flow information:      Income taxes paid $18,909  $16,904 Interest paid, net of capitalized interest  43,544   39,424            O’REILLY AUTOMOTIVE, INC. AND SUBSIDIARIES
SELECTED FINANCIAL INFORMATION
(Unaudited)          For the Twelve Months Ended  March 31,Adjusted Debt to EBITDAR: 2026 2025(In thousands, except adjusted debt to EBITDAR ratio)      GAAP debt $6,195,311 $5,651,821Add:Letters of credit  197,892  127,264 Unamortized discount and debt issuance costs  29,689  27,679 Six-times rent expense  2,986,494  2,771,640Adjusted debt $9,409,386 $8,578,404       GAAP net income $2,603,905 $2,377,927Add:Interest expense  240,245  222,964 Provision for income taxes  732,004  651,098 Depreciation and amortization  524,367  474,468 Share-based compensation expense  35,487  30,353 Rent expense(i)  497,749  461,940EBITDAR $4,633,757 $4,218,750       Adjusted debt to EBITDAR  2.03  2.03 (i)The table below outlines the calculation of Rent expense and reconciles Rent expense to Total lease cost, per ASC 842, the most directly comparable GAAP financial measure, for the twelve months ended March 31, 2026 and 2025 (in thousands):             For the Twelve Months Ended   March 31,   2026 2025 Total lease cost, per ASC 842 $598,987 $558,415 Less:Variable non-contract operating lease components, related to property taxes and insurance  101,238  96,475 Rent expense $497,749 $461,940                    March 31,  2026 2025Selected Balance Sheet Ratios:        Inventory turnover(1)  1.6  1.6Average inventory per store (in thousands)(2) $874 $806Accounts payable to inventory(3)  124.6%  126.4%                     For the Three Months Ended   March 31,   2026 2025Reconciliation of Free Cash Flow (in thousands):      Net cash provided by operating activities $1,032,913 $755,120Less:Capital expenditures  244,447  286,951 Excess tax benefit from share-based compensation payments  3,352  12,925Free cash flow $785,114 $455,244                 For the Three Months Ended  March 31,  2026 2025Revenue Disaggregation (in thousands):     Sales to do-it-yourself customers$2,190,132 $2,051,859Sales to professional service provider customers  2,290,784  1,998,593Other sales and sales adjustments  79,623  86,472Total sales $4,560,539 $4,136,924                   For the Three Months Ended For the Twelve Months Ended  March 31, March 31,  2026 2025  2026 2025 Store Count:        Beginning domestic store count 6,447 6,265  6,298 6,131 New stores opened 48 33  197 167 Stores closed — —  — — Ending domestic store count 6,495 6,298  6,495 6,298          Beginning Mexico store count 112 87  93 63 New stores opened 9 6  28 30 Stores closed — —  — — Ending Mexico store count 121 93  121 93          Beginning Canada store count 26 26  25 23 New stores opened 2 —  3 3 Stores closed — (1) — (1)Ending Canada store count 28 25  28 25          Total ending store count 6,644 6,416  6,644 6,416                            For the Three Months Ended For the Twelve Months Ended  March 31, March 31,  2026 2025 2026 2025Store and Team Member Information:            Total employment  93,973  93,419      Square footage (in thousands)(4)  52,229  49,371      Sales per weighted-average square foot(4)(5) $85.94 $82.22 $349.36 $341.85Sales per weighted-average store (in thousands)(4)(6) $688 $643 $2,774 $2,650              (1)Calculated as cost of goods sold for the last 12 months divided by average inventory. Average inventory is calculated as the average of inventory for the trailing four quarters used in determining the denominator.(2)Calculated as inventory divided by store count at the end of the reported period.(3)Calculated as accounts payable divided by inventory.(4)Represents O’Reilly’s U.S. and Puerto Rico operations only.(5)Calculated as sales less jobber sales, divided by weighted-average square footage. Weighted-average square footage is determined by weighting store square footage based on the approximate dates of store openings, acquisitions, expansions, or closures.(6)Calculated as sales less jobber sales, divided by weighted-average stores. Weighted-average stores is determined by weighting stores based on their approximate dates of openings, acquisitions, or closures.

O'Reilly Automotive (ORLY - Free Report) came out with quarterly earnings of $0.72 per share, beating the Zacks Consensus Estimate of $0.69 per share. This compares to earnings of $0.62 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +4.18%. A quarter ago, it was expected that this auto parts retailer would post earnings of $0.72 per share when it actually produced earnings of $0.71, delivering a surprise of -1.39%.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.

O'Reilly Automotive, which belongs to the Zacks Automotive - Retail and Wholesale - Parts industry, posted revenues of $4.56 billion for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 2.10%. This compares to year-ago revenues of $4.14 billion. The company has topped consensus revenue estimates three times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

O'Reilly Automotive shares have added about 0.4% since the beginning of the year versus the S&P 500's gain of 4.3%.

What's Next for O'Reilly Automotive?While O'Reilly Automotive has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for O'Reilly Automotive was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.94 on $4.83 billion in revenues for the coming quarter and $3.23 on $18.93 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Automotive - Retail and Wholesale - Parts is currently in the bottom 19% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the same industry, Advance Auto Parts (AAP - Free Report) , is yet to report results for the quarter ended March 2026.

This auto parts retailer is expected to post quarterly earnings of $0.40 per share in its upcoming report, which represents a year-over-year change of +281.8%. The consensus EPS estimate for the quarter has been revised 1.1% lower over the last 30 days to the current level.

Advance Auto Parts' revenues are expected to be $2.56 billion, down 0.7% from the year-ago quarter.

Key Takeaways ORLY beat Q1 EPS and revenue estimates, with earnings and sales rising year over year.Strong demand drove 8.1% comp sales growth across professional and DIY segments.Margins improved as cost control and higher sales boosted profit and cash flow. O’Reilly Automotive, Inc. (ORLY - Free Report) reported first-quarter 2026 adjusted earnings per share (EPS) of 72 cents, which beat the Zacks Consensus Estimate of 69 cents by 4.18%. The bottom line increased from 62 cents in the prior-year quarter.

The automotive parts retailer registered quarterly revenues of $4.56 billion, which surpassed the Zacks Consensus Estimate of $4.47 billion by 2.1%. The top line also rose 10.2% year over year.

The quarter was driven by strong demand, with comparable store sales rising 8.1%. Growth in both the professional and DIY segments, along with careful cost control, supported the overall performance. The company opened 59 stores in the United States, Mexico and Canada in the first quarter. The total store count was 6,644 as of March 31, 2026.

ORLY’s Sales Mix Highlights Professional MomentumA key feature of the quarter was the continued weight of the professional service provider channel. Sales to professional customers were $2.29 billion, up from $2 billion a year ago, reflecting meaningful growth in the company’s higher-frequency commercial business.

Do-it-yourself demand also contributed, with DIY sales of $2.19 billion versus $2.05 billion in the prior-year quarter. Other sales and adjustments were $79.6 million compared with $86.5 million last year, leaving the mix largely driven by the two core customer groups.

O’Reilly Expands Profit Dollars as Sales ScaleO’Reilly translated the higher sales base into improved profit dollars. Gross profit increased to $2.35 billion, and gross margin held firm at 51.5% of sales versus 51.3% a year ago, indicating pricing and sourcing discipline despite a rising cost environment.

Expense growth remained controlled relative to sales. Selling, general and administrative costs rose to $1.51 billion, but declined to 33% of sales from 33.4% last year. Operating income climbed to $841.6 million, with operating margin improving to 18.5% from 17.9%, underscoring a focus on productivity and prudent expense management.

ORLY Converts Earnings Into Cash and Share ReductionCash generation was a standout. Net cash provided by operating activities was $1.03 billion in the quarter, up from $755.1 million in the year-ago period, supported by higher earnings and favorable working-capital movements.

This strong cash generation supported an aggressive capital return program. Capital expenditures were $244.4 million, and free cash flow totaled $785.1 million. ORLY repurchased 10 million shares for $923 million at an average price of $92.45 in the first quarter. From the end of the first quarter until April 29, 2026, it bought an additional 3.6 million shares for $338 million at an average price of $92.83.

O’Reilly’s Balance Sheet Reflects Inventory InvestmentAs of March 31, 2026, O’Reilly’s cash and cash equivalents totaled $252.6 million, up from $191.2 million a year earlier. Inventory rose to $5.81 billion from $5.17 billion, reflecting a larger store base and the need to support high service levels across both customer segments.

On the funding side, as of March 31, 2026, long-term debt rose to $6.2 billion from $5.65 billion a year ago. Accounts payable increased to $7.24 billion from $6.54 billion, mainly reflecting higher inventory levels. Overall, total assets grew to $16.94 billion from $15.29 billion in the same period last year.

ORLY Lifts 2026 Outlook Across Key Operating TargetsThe company maintained its full-year outlook, with total revenues expected between $18.7 billion and $19 billion. Gross margin is projected in the range of 51.5-52%. The effective tax rate is expected to be 22.6%.

It continues to expect 225-235 new store openings and comparable store sales growth of 3-5%. Cash flow guidance remains unchanged, with operating cash flow of $3.1-$3.5 billion, capital spending of $1.3-$1.4 billion, and free cash flow of $1.8-$2.1 billion.

The company now expects operating margin to be in the range of 19.3-19.8%, up slightly from the previous outlook of 19.2-19.7%. Diluted earnings per share are projected between $3.15 and $3.25 compared with the earlier guidance of $3.10-$3.20.

ORLY currently has a Zacks Rank #4 (Sell).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Key Releases From Auto SpaceAutoliv, Inc. (ALV - Free Report) reported first-quarter 2026 results on April 17. It posted adjusted earnings of $2.05 per share, which declined 4.7% year over year but surpassed the Zacks Consensus Estimate of $1.77 by 15.8%. Net sales were $2.75 billion, up 6.8% from the year-ago quarter and above the Zacks Consensus Estimate of $2.63 billion by 4.52%.

Autoliv ended the quarter with cash and cash equivalents of $342 million compared with $322 million a year earlier. Long-term debt was $1.7 billion compared with $1.56 billion in the year- ago period. Shareholder returns continued through dividends. Autoliv paid a cash dividend of 87 cents per share in the quarter, with total dividend payments of $65 million.

Genuine Parts Company (GPC - Free Report)  reported its first-quarter 2026 results on April 21. It posted adjusted earnings of $1.77 per share, which missed the Zacks Consensus Estimate of $1.81 by 1.94%. The bottom line improved 1.1% from the year-ago quarter’s adjusted earnings of $1.75 per share. The company posted revenues of $6.27 billion, which beat the Zacks Consensus Estimate of $6.17 billion by 1.5% and increased 6.8% year over year. The performance was driven by solid sales growth across business segments and a 20-basis-point improvement in gross margin to 37.3%.

GPC’s total liquidity was $1.3 billion as of March 31, 2026, including $500 million in cash and $838 million of revolver capacity. During the quarter, GPC invested $98 million in capex and $14 million in acquisitions while returning $142 million to shareholders via dividends. For 2026, the company targets $450-$500 million in capex and $300-$350 million in M&A, with approximately 7.5 million shares remaining under its repurchase authorization.

Comparable Store Sales Growth: 8.1% increase, surpassing expectations.Total Sales Growth: 10.2% increase for the first quarter of 2026.Operating Profit: 14% in

On May 13, 2026, we delve into the discounted cash flow (DCF) analysis for O'Reilly Automotive Inc (ORLY). The company has experienced a slight decline in its s

Growth investors focus on stocks that are seeing above-average financial growth, as this feature helps these securities garner the market's attention and deliver solid returns. However, it isn't easy to find a great growth stock.

That's because, these stocks usually carry above-average risk and volatility. In fact, betting on a stock for which the growth story is actually over or nearing its end could lead to significant loss.

However, it's pretty easy to find cutting-edge growth stocks with the help of the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects.

Our proprietary system currently recommends O'Reilly Automotive (ORLY - Free Report) as one such stock. This company not only has a favorable Growth Score, but also carries a top Zacks Rank.

Studies have shown that stocks with the best growth features consistently outperform the market. And for stocks that have a combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy), returns are even better.

While there are numerous reasons why the stock of this auto parts retailer is a great growth pick right now, we have highlighted three of the most important factors below:

Earnings GrowthArguably nothing is more important than earnings growth, as surging profit levels is what most investors are after. For growth investors, double-digit earnings growth is highly preferable, as it is often perceived as an indication of strong prospects (and stock price gains) for the company under consideration.

While the historical EPS growth rate for O'Reilly Automotive is 10.5%, investors should actually focus on the projected growth. The company's EPS is expected to grow 9.2% this year, crushing the industry average, which calls for EPS growth of 4%.

Cash Flow GrowthCash is the lifeblood of any business, but higher-than-average cash flow growth is more beneficial and important for growth-oriented companies than for mature companies. That's because, high cash accumulation enables these companies to undertake new projects without raising expensive outside funds.

Right now, year-over-year cash flow growth for O'Reilly Automotive is 6.1%, which is higher than many of its peers. In fact, the rate compares to the industry average of 5.6%.

While investors should actually consider the current cash flow growth, it's worth taking a look at the historical rate too for putting the current reading into proper perspective. The company's annualized cash flow growth rate has been 8.1% over the past 3-5 years versus the industry average of 4.1%.

Promising Earnings Estimate RevisionsBeyond the metrics outlined above, investors should consider the trend in earnings estimate revisions. A positive trend is a plus here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

The current-year earnings estimates for O'Reilly Automotive have been revising upward. The Zacks Consensus Estimate for the current year has surged 0.5% over the past month.

Bottom LineWhile the overall earnings estimate revisions have made O'Reilly Automotive a Zacks Rank #2 stock, it has earned itself a Growth Score of B based on a number of factors, including the ones discussed above.

You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

This combination indicates that O'Reilly Automotive is a potential outperformer and a solid choice for growth investors.

It has been about a month since the last earnings report for O'Reilly Automotive (ORLY - Free Report) . Shares have lost about 10.2% in that time frame, underperforming the S&P 500.

Will the recent negative trend continue leading up to its next earnings release, or is O'Reilly Automotive due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its latest earnings report in order to get a better handle on the important catalysts.

O'Reilly Q1 Earnings Surpass Estimates on Strong Comps GrowthO’Reilly reported first-quarter 2026 adjusted earnings per share (EPS) of 72 cents, which beat the Zacks Consensus Estimate of 69 cents by 4.18%. The bottom line increased from 62 cents in the prior-year quarter.

The automotive parts retailer registered quarterly revenues of $4.56 billion, which surpassed the Zacks Consensus Estimate of $4.47 billion by 2.1%. The top line also rose 10.2% year over year.

The quarter was driven by strong demand, with comparable store sales rising 8.1%. Growth in both the professional and DIY segments, along with careful cost control, supported the overall performance. The company opened 59 stores in the United States, Mexico and Canada in the first quarter. The total store count was 6,644 as of March 31, 2026.

ORLY’s Sales Mix Highlights Professional MomentumA key feature of the quarter was the continued weight of the professional service provider channel. Sales to professional customers were $2.29 billion, up from $2 billion a year ago, reflecting meaningful growth in the company’s higher-frequency commercial business.

Do-it-yourself demand also contributed, with DIY sales of $2.19 billion versus $2.05 billion in the prior-year quarter. Other sales and adjustments were $79.6 million compared with $86.5 million last year, leaving the mix largely driven by the two core customer groups.

O’Reilly Expands Profit Dollars as Sales ScaleO’Reilly translated the higher sales base into improved profit dollars. Gross profit increased to $2.35 billion, and gross margin held firm at 51.5% of sales versus 51.3% a year ago, indicating pricing and sourcing discipline despite a rising cost environment.

Expense growth remained controlled relative to sales. Selling, general and administrative costs rose to $1.51 billion, but declined to 33% of sales from 33.4% last year. Operating income climbed to $841.6 million, with operating margin improving to 18.5% from 17.9%, underscoring a focus on productivity and prudent expense management.

ORLY Converts Earnings Into Cash and Share ReductionCash generation was a standout. Net cash provided by operating activities was $1.03 billion in the quarter, up from $755.1 million in the year-ago period, supported by higher earnings and favorable working-capital movements.

This strong cash generation supported an aggressive capital return program. Capital expenditures were $244.4 million, and free cash flow totaled $785.1 million. ORLY repurchased 10 million shares for $923 million at an average price of $92.45 in the first quarter. From the end of the first quarter until April 29, 2026, it bought an additional 3.6 million shares for $338 million at an average price of $92.83.

O’Reilly’s Balance Sheet Reflects Inventory InvestmentAs of March 31, 2026, O’Reilly’s cash and cash equivalents totaled $252.6 million, up from $191.2 million a year earlier. Inventory rose to $5.81 billion from $5.17 billion, reflecting a larger store base and the need to support high service levels across both customer segments.

On the funding side, as of March 31, 2026, long-term debt rose to $6.2 billion from $5.65 billion a year ago. Accounts payable increased to $7.24 billion from $6.54 billion, mainly reflecting higher inventory levels. Overall, total assets grew to $16.94 billion from $15.29 billion in the same period last year.

ORLY Lifts 2026 Outlook Across Key Operating TargetsThe company maintained its full-year outlook, with total revenues expected between $18.7 billion and $19 billion. Gross margin is projected in the range of 51.5-52%. The effective tax rate is expected to be 22.6%.

It continues to expect 225-235 new store openings and comparable store sales growth of 3-5%. Cash flow guidance remains unchanged, with operating cash flow of $3.1-$3.5 billion, capital spending of $1.3-$1.4 billion, and free cash flow of $1.8-$2.1 billion.

The company now expects operating margin to be in the range of 19.3-19.8%, up slightly from the previous outlook of 19.2-19.7%. Diluted earnings per share are projected between $3.15 and $3.25 compared with the earlier guidance of $3.10-$3.20.

How Have Estimates Been Moving Since Then?Since the earnings release, investors have witnessed a upward trend in fresh estimates.

The consensus estimate has shifted -8.66% due to these changes.

VGM ScoresAt this time, O'Reilly Automotive has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with a D. Following the exact same course, the stock was allocated a score of D on the value side, putting it in the bottom 40% for value investors.

Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been broadly trending upward for the stock, and the magnitude of these revisions indicates a downward shift. It comes with little surprise O'Reilly Automotive has a Zacks Rank #2 (Buy). We expect an above average return from the stock in the next few months.

On June 10, 2026, we delve into the DCF analysis for O'Reilly Automotive Inc (ORLY), a company that has shown mixed price performance recently. Over the past we

On May 22, 2026, Cadence Design Systems Inc (CDNS) shares rose 4.2% today, bringing the current price to $373.59. Over the past year, CDNS has experienced a pri