As the year comes to a close, O'Reilly Automotive Inc. (Nasdaq: ORLY) appears poised to hit a new stock benchmark.
The auto parts retailer's most recent 52-week stock high was $683.19 per share, which hit on Dec. 8. Only five months ago, the stock crossed the $600 threshold.
For the third quarter, O'Reilly Automotive reported an 8.5% increase in revenue to $3.5 billion and a 6% jump in net income to $527.3 million. For the nine-month period that ended Sept. 30, sales were up to $10 billion from $8.8 billion in the same period of 2020. Net income for the nine months rose to $1.6 billion from $1.4 billion.
After exceeding $10 billion in revenue for the first time in 2019, the auto parts retailer in 2020 recorded sales of $11.6 billion. Springfield Business Journal previously reported the company's next annual sales goal is $15 billion by 2027.
Additionally, O'Reilly Automotive last month announced a high-profile board appointment in Fred Whitfield, an executive of the Charlotte Hornets professional basketball organization and a longtime friend and business colleague of Michael Jordan.
Read the profiles of this year's honorees.