O’Reilly Automotive, Inc. announced on October 22 record revenues and earnings for its third quarter ended September 30, 2014.
- Sales increased $149 million, or 9%, to $1.88 billion from $1.73 billion for the same period one year ago.
- Gross profit increased to $968 million (or 51.6% of sales) from $879 million (or 50.9% of sales) for the same period one year ago, representing an increase of 10%.
- Selling, general and administrative expenses increased to $624 million (or 33.3% of sales) from $579 million (or 33.5% of sales) for the same period one year ago, representing an increase of 8%.
- Operating income increased to $344 million (or 18.3% of sales) from $300 million (or 17.4% of sales) for the same period one year ago, representing an increase of 14%.
- Net income increased $31 million, or 16%, to $217 million (or 11.6% of sales) from $186 million (or 10.8% of sales) for the same period one year ago.
- Diluted earnings per common share increased 22% to $2.06 on 105 million shares versus $1.69 for the same period one year ago on 110 million shares.
Commenting on the company’s results, President and CEO, Greg Henslee, stated, “We are very proud to report another very successful quarter. Team O'Reilly's unwavering commitment to providing excellent customer service to every customer who calls or walks into our stores continues to be the key to our ability to grow our market share and generate record breaking results, highlighted by our 6.2% increase in comparable store sales, which exceeded the top end of our quarterly guidance by 120 basis points. I would liketo thank each of our over 67,000 team members for their continued hard work and dedication to our ongoing success.”