How have O'Reilly's operating expenses trended over past quarters?

O'Reilly's operating expenses have shown a general upward trend over the past quarters, with some fluctuations. Here's a summary of the key points:

1. **Trend Overview**: O'Reilly's operating expenses have increased from $1.23 billion in the second quarter of 2023 to $1.36 billion in the fourth quarter of 2024.
2. **Specific Quarter Analysis**:
- In the second quarter of 2024, O'Reilly's operating expenses were $1.30 billion, representing a 6% increase from the same quarter in the previous year.
- In the fourth quarter of 2024, operating expenses rose to $1.36 billion, marking an 8.8% year-over-year increase.
3. **Comparison with Revenue**: O'Reilly's revenue has also increased during the same period, with the fourth quarter showing $4.10 billion, surpassing the estimated $4.048 billion. This revenue growth may indicate that the company is able to absorb the increased operating expenses and maintain profitability.
4. **Return on Operating Expenses**: The company's operating income has risen to $738.7 million in the fourth quarter of 2024, representing a 2.7% year-over-year increase. This suggests that O'Reilly is effectively managing its operating expenses to maintain a healthy return on investment.

In conclusion, O'Reilly's operating expenses have been on an upward trajectory, but the company's strategic growth initiatives and increased revenues suggest that it is well-positioned to handle these expenses and continue to perform well financially.