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O’Reilly Auto’s earnings, revenue climb in Q3

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O’Reilly Automotive Inc. (Nasdaq: ORLY) reported increased net income and revenue during the third quarter.

The Springfield-based auto parts retailer boosted earnings to $366.2 million during the quarter ending Sept. 30, up 29 percent from $283.7 million a year earlier. Diluted share earnings rose by $1.28 to $4.50, according to a news release.

“Our third-quarter comparable store sales increase of 3.9 percent was at the top end of our guidance range and is a testament to the hard work and dedication of our team,” O’Reilly Auto co-President and CEO Greg Johnson said in the release. “Our third-quarter comparable store sales results include approximately 50 basis points of headwind from one additional Sunday this year, which is our lowest volume day.”

Third-quarter financial notes:
    •    Revenue increased 6 percent to $2.5 billion.
    •    The company repurchased $285 million worth of its common stock.
    •    The retailer opened 45 stores and closed two to end at 5,190 locations as of Sept. 30.

At the end of the third quarter, O’Reilly Auto’s assets were $7.9 billion. The company employed 80,158 people in 47 states, according to the release.

ORLY shares were trading at $320.11 as of 8:46 a.m., compared with a 52-week range of $190 to $351.65.


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