YOUR BUSINESS AUTHORITY
Springfield-based O’Reilly Automotive Inc.’s (Nasdaq: ORLY) stock today exceeded $800 per share for the first time after the release of the company's third-quarter report.
The stock climbed as high as $819.19 per share this morning. It's the latest in a series of 52-week and all-time highs leading up to the quarterly results released yesterday. The company’s stock first crossed the $700 mark in December 2021, according to past reporting.
In a news release, the Springfield-based auto parts retailer reported third-quarter net income of $585.4 million, a 4.8% increase from $558.7 million a year earlier. Diluted share earnings rose to $9.17 from $8.07.
Sales during the quarter were up 9.2% to $3.8 billion from $3.5 billion in the same three-month period of 2021.
"We are pleased to report very strong performance in the third quarter, highlighted by a 7.6% increase in comparable store sales and an incredible three-year stacked comparable store sales increase of 31.2%," O'Reilly Automotive President and CEO Greg Johnson said in the release. "Our team’s relentless focus on providing excellent service to our customers drove the robust sales strength in the quarter."
As of Sept. 30, O'Reilly Automotive's assets were $12.2 billion. During the quarter, the company added 38 stores to land at 5,938 and repurchased roughly $710 million worth of its stock.
Heirloom Candle Bar moved; art supply thrift store Arrow Creative Reuse opened; and Rockford, Illinois-based Beef-A-Roo debuted in Springfield.