O'Reilly Auto boosts sales, net income

With higher third-quarter comparable store sales than expected, O'Reilly Automotive Inc. (Nasdaq: ORLY) boosted net income 16.4 percent to $217 million.

According to the Springfield-based auto parts retailer's quarterly results, diluted share earnings improved to $2.06 from $1.69 a year earlier.

Comparable store sales increased 6.2 percent during the three months ended Sept. 30, up from 4.6 percent in third-quarter 2013. In a news release, O'Reilly President and CEO Greg Henslee said the latest same-store sales figure exceeded the top end of the company's quarterly guidance by 1.2 percent.

Companywide sales rose 8.6 percent to $1.9 billion, according to the release.

Third-quarter financial notes:

• O'Reilly repurchased 2.5 million shares of its common stock during the quarter at an average price of $152.42 per share, representing an investment of $387 million.
• The company added its 26th distribution center during September in Naperville, Ill. The 363,000-square-foot facility supports stores in the Chicago area and frees up capacity from existing Midwest distribution centers.
• The retailer opened 57 stores and closed three during the quarter, resulting in a total store count of 4,311 in 43 states.

As of Sept. 30, O'Reilly's assets were $6.5 billion, according to the release.

ORLY shares were trading at $165.52 as of 8:44 a.m., compared to a 52-week range of $120.34 to $167.99.[[In-content Ad]]