ORLY — what changed in the latest 10-Q
A section-by-section comparison of ORLY's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-08-07 vs the prior 10-Q · 2026-05-08
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +5 | −5 | ~18 | 24 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~5 | 2 |
| Controls & procedures | Text added/removed | 0 | 0 | ~1 | 1 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | 0 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-08-07
As a result of the impact discussed above, operating income for the three months ended June 30, 2026, increased 8% to $986 million (or 20.2% of sales), from $914 million (or 20.2% of sales) for the same period one year ago. As a result of the impacts discussed above, operating income for the six mon…
As a result of the impacts discussed above, net income for the three months ended June 30, 2026, increased 7% to $715 million (or 14.6% of sales) from $669 million (or 14.8% of sales) for the same period one year ago. As a result of the impacts discussed above, net income for the six months ended Ju…
Our diluted earnings per common share for the three months ended June 30, 2026, increased 10% to $0.86 on 829 million shares from $0.78 on 858 million shares for the same period one year ago. Our diluted earnings per common share for the six months ended June 30, 2026, increased 13% to $1.58 on 836 …
The increase in net cash provided by operating activities during the six months ended June 30, 2026, compared to the same period in 2025, was primarily due to the timing of payment for transferrable federal renewable energy tax credits and an increase in operating income, partially offset by a prepa…
The increase in net cash used in financing activities during the six months ended June 30, 2026, compared to the same period in 2025, was attributable to an increase in repurchases of our common stock and the redemption of $500 million aggregate principal amount of senior notes, partially offset by …
Text removed vs the prior filing · source: 10-Q · 2026-05-08
As a result of the impacts discussed above, operating income for the three months ended March 31, 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.
As a result of the impacts discussed above, net income for the three months ended March 31, 2026, increased 12% to $604 million (or 13.2% of sales) from $538 million (or 13.0% of sales) for the same period one year ago.
Our diluted earnings per common share for the three months ended March 31, 2026, increased 16% to $0.72 on 843 million shares from $0.62 on 864 million shares for the same period one year ago.
The increase in net cash provided by operating activities during the three months ended March 31, 2026, compared to the same period in 2025, was primarily due to a decrease in net inventory investment, versus an increase in net inventory investment during the same period in 2025, and an increase in …
The increase in net cash used in financing activities during the three months ended March 31, 2026, compared to the same period in 2025, was attributable to the redemption of $500 million aggregate principal amount of senior notes, an increase in repurchases of our common stock, and a net paydown on…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice