O'Reilly Automotive Inc. (Nasdaq: ORLY) increased third-quarter earnings 7.3 percent to $159.3 million, compared to $148.4 million in the same quarter a year ago.
The Springfield-based auto parts company recorded earnings per share of $1.32, up 22 cents from third-quarter 2011. The 20 percent increase represented the 15th consecutive quarter of growing diluted earnings per share by more than 15 percent, according to a news release.
The company had estimated comparable store sales of 1 percent to 3 percent for the third quarter and landed close to the former.
“During the third quarter, we continued to see our results impacted by mild weather at the start of the year and a challenging macroenvironment, resulting in 1.3 percent comparable store sales growth, which was near the low end of our expectations for the quarter," O'Reilly co-President and CEO Greg Henslee said in the release. Comparable store sales for third-quarter 2011 were 4.8 percent.
"However, we remain very confident in the long-term outlook for our industry," he added.
Third-quarter highlights:
- O'Reilly's sales were $1.6 billion and its cost of goods sold was $796 million, resulting in an $805.5 million gross profit.
- As of Sept. 30, the company employed 52,834, up from 49,254 at the end of the same quarter last year.
- During the quarter, the company repurchased 6.4 million shares of its common stock at an average price of $84.76 per share, representing an investment of $539 million.
For the fourth quarter, O'Reilly has estimated comparable store sales of 2 percent to 4 percent, and the company expects to end the year with total revenue of $6.15 billion to $6.2 billion.
As of Sept. 30, O'Reilly held assets of $5.8 billion, and the company operated 3,896 stores in 39 states. During the third quarter, the company opened 38 new stores across 20 states; it closed one store, the release said.
The company's shares were trading at $84.31 as of 9:07 a.m., compared to a 52-week range of $69.14 to $107.13.[[In-content Ad]]
