Summary
O'Reilly Automotive, Inc. (ORLY) reported record revenues and earnings for the second quarter of 2005, marking its 47th consecutive quarter of record performance since going public. The company announced a 19.8% increase in product sales to $521.2 million, driven by a strong 9.6% increase in comparable store sales. Net income grew by 27.3% to $42.9 million, translating to a 26.7% rise in diluted earnings per share to $0.38. Key strategic initiatives during the quarter included the opening of 41 new stores and the successful acquisition of Midwest Auto Parts, which added 72 stores and two distribution centers. The company also completed a two-for-one stock split in June 2005. These positive results and strategic expansions position ORLY for continued growth in the automotive aftermarket.
Key Highlights
- 1Record revenues and earnings for Q2 2005, extending a streak of 47 consecutive record quarters.
- 2Product sales increased 19.8% year-over-year to $521.2 million.
- 3Comparable store sales grew by a robust 9.6% for the quarter.
- 4Net income rose 27.3% to $42.9 million.
- 5Diluted Earnings Per Share (EPS) increased 26.7% to $0.38.
- 6Acquisition of Midwest Auto Parts added 72 stores and 2 distribution centers.
- 7Opened 41 new stores during the quarter, expanding store count to 1,399.