Summary
O'Reilly Automotive, Inc. (ORLY) reported record third quarter revenues and earnings, marking the 44th consecutive quarter of such performance since its IPO in 1993. For the third quarter ended September 30, 2004, the company achieved net income of $33.2 million, an increase of 12.6% from the prior year, and diluted earnings per share of $0.60, up 11.1%. Product sales grew by 10.4% to $455.2 million. The company also demonstrated strong performance in its nine-month results, with net income up 22.1% to $93.0 million and diluted EPS increasing by 19.3% to $1.67. Product sales for the nine-month period rose 13.0% to $1.29 billion. Despite some challenges in the aftermarket and hurricane impacts in the southeast, O'Reilly expanded its store count by 35 net new stores during the quarter, contributing to its overall growth.
Key Highlights
- 1Record third quarter revenues and earnings, extending a streak of 44 consecutive quarters of record performance.
- 2Third quarter net income increased 12.6% to $33.2 million, with diluted EPS rising 11.1% to $0.60.
- 3Third quarter product sales grew 10.4% to $455.2 million.
- 4Nine-month net income increased 22.1% to $93.0 million, and diluted EPS rose 19.3% to $1.67.
- 5Nine-month product sales increased 13.0% to $1.29 billion.
- 6Expanded store footprint by opening 35 net new stores in the third quarter, bringing the total to 1,205 stores.
- 7Achieved a 3.4% comparable store sales increase for the third quarter, demonstrating solid same-store performance.