O'Reilly Auto records 21% profit bump

On sales of $1.7 billion, O'Reilly Automotive Inc. (Nasdaq: ORLY) increased second-quarter profits 21.2 percent to $177.1 million - results that pushed its stock to a 52-week high.

The Springfield-based auto parts retailer posted diluted earnings per share of $1.58 for the three monthsending June 30, up from $1.15 per share in second-quarter 2012, according to a news release.

"We are very pleased to again report another record-breaking quarter highlighted by a 37 percent increase in diluted earnings per share to $1.58, representing our 18th consecutive quarter of 15 percent or greater adjusted diluted earnings per share growth," O'Reilly President and CEO Greg Henslee said in the release.

On news of the quarterly results, ORLY shares recorded a new 52-week high this morning of $124.28. The company's 52-week low is $78.58.

Second-quarter financial highlights:

• Comparable store sales increased 6.5 percent, up from 2.5 percent in the same quarter last year. The company is estimating third-quarter comparable store sales of 4 to 6 percent.
• O'Reilly repurchased 2.5 million shares of its common stock at an average price of $107.61 per share, representing an investment of $274 million.
• The company opened 47 stores and closed one during the quarter, resulting in a store count of 4,087 in 42 states as of June 30.

At the end of the second quarter, O'Reilly held assets of $6.1 billion and liabilities of $2.4 billion, according to the release.