O'Reilly Automotive Inc. (Nasdaq: ORLY) beat analyst expectations by posting earnings per share of $1.69 during the third quarter, up 37 cents from the same period a year ago.
Analysts predicted a profit of $1.65 a share, according to
Springfield Business Journal archives.
The Springfield-based auto parts retailer recorded third-quarter net income of $186.5 million, a 17 percent boost compared to $159.3 million profits posted during the three months ended Sept. 30, 2012.
In a news release, O'Reilly Auto President and CEO Greg Henslee said the three months ended Sept. 30 represent the 19th consecutive quarter of 15 percent or more adjusted diluted earnings per share growth.
"We continue to focus on long-term profitable growth, and our unwavering efforts to control expenses allowed us to deliver a record quarterly operating margin of 17.4 percent, which is a 100 basis point improvement over the third quarter of 2012, and drove a 28 percent increase in diluted earnings per share," he said in the release.
Third-quarter financial highlights:
- Total sales jumped 7.9 percent to $1.7 billion from $1.6 billion a year ago.
- Comparable store sales grew 4.6 percent.
- The company repurchased 1.5 million shares of its common stock at an average price of $120.71 per share, for a total investment of $185 million. Since its stock repurchase program began in January 2011, O'Reilly Auto has repurchased 38.9 million shares, representing an investment of $3.1 billion.
As of Sept. 30, O'Reilly Auto's assets were $6.2 billion. The company operates 4,135 stores - including 50 new stores opened in the third quarter - employing some 61,296 across 42 states, the release said.
Henslee said the company plans to add 200 new stores in 2014. He added the company plans to relocate its Lewiston, Maine, distribution center to a larger facility in Devens, Mass., outside of Boston, in the second half of 2014. A move to support expansion, the center would distribute to 280 stores.
The company recorded a 52-week high of $135.62 on Oct. 17. As of 8:56 a.m., ORLY shares were trading at $124.31. The company's 52-week low is $80.89.[[In-content Ad]]
