YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
Net income for the quarter was $49.3 million, up 14.9 percent from $42.9 million the same period last year. Per-share earnings were 43 cents, a 5-cent, or 13.2 percent, increase from second-quarter 2005.
Product sales and gross profit for the quarter also were up. Product sales were $591 million, a 13.4 percent increase from $521 million reported last year. Gross profit rose 13 percent to $261 million, from $229 million a year ago.
Net income for the year to date is $89.9 million, up 18 percent from last year.
The quarter represented the 51st quarter of record revenue and earnings for O’Reilly since becoming a public company in 1993.
In the second quarter, O’Reilly opened 49 new stores, in addition to its Indianapolis center.
On Tuesday, analysts at Kevin Dunn reiterated their “buy” rating of O’Reilly stock and reduced the target price from $47 to $42. Analyst Scott Ciccarelli of RBC Capital Markets maintained his “outperform” rating, setting a target price of $42.
Shares (Nasdaq: ORLY) closed Wednesday at $28.80 and was trading down at $28.32, as of 11:30 this morning.
This installment of Springfield Business Journal’s Architects & Engineers Project Report showcases 26 endeavors by area design and engineering professionals.
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