O'Reilly Automotive Inc. (Nasdaq: ORLY) knocked out another sales goal.
After exceeding $10 billion in revenue for the first time in 2019, the auto parts retailer in 2020 recorded sales of $11.6 billion, a 14% increase, according to a news release. Springfield Business Journal previously reported the company's next annual sales goal is $15 billion by 2027.
"The tireless efforts of our team allowed us to produce these strong results even in the face of unprecedented challenges in 2020," said co-President and CEO Greg Johnson, in the release. "We are extremely pleased to report another record-breaking quarter to finish out 2020, with the incredible performance by team O’Reilly in the fourth quarter capping the best full-year financial results in our company’s history."
Full-year and fourth quarter financial notes:
• O'Reilly Automotive's 2020 net income rose 26% to $1.8 billion, compared with $1.4 billion a year earlier.
• Fourth quarter earnings were up to $392.9 million on revenue of $2.8 billion.
• The company invested more than $2 billion to repurchase 4.8 million of its shares during the year.
O'Reilly Automotive's assets were $11.6 billion as of Dec. 31, according to the release. The company had 5,594 stores in 47 states, as well as 22 shops in Mexico, at the end of the year.
ORLY shares were trading at $439.53 as of 9:46 a.m., compared with a 52-week range of $251.52 to $496.61 per share. The 52-week and all-time high was hit Jan. 12.
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