O'Reilly Auto posts higher Q1 revenue, profits

Springfield-based O’Reilly Automotive Inc. (Nasdaq: ORLY) reported higher sales and profits during the first quarter.

The auto parts retailer's net income grew 7.3% to $516.9 million from $481.9 million in the first quarter of 2022, according to a news release, while revenue during the quarter climbed 12.5% to $3.7 billion from $3.3 billion a year earlier. Diluted share earnings were $8.28, compared with $7.17 per share a year earlier.

“We are pleased to report a very strong start to 2023, highlighted by robust 10.8% growth in comparable store sales and a 15% increase in our first-quarter diluted earnings per share," CEO Greg Johnson said in the release.

O'Reilly Automotive's assets were nearly $13 billion at the end of the quarter, according to the release. The company had 6,029 stores as of March 31.

ORLY shares were trading at $890.94 as of 9:12 a.m., compared with a 52-week range of $562.90 to $912 per share. The stock crossed the $900 threshold for the first time on April 17.