Sector: Consumer Discretionary|Industry: Specialty Retail|Market Cap: $70.73B|Employees: 90.3K
O'Reilly Automotive, Inc. is a specialty retailer of automotive aftermarket parts, tools, supplies, equipment, and accessories in the United States, Puerto Rico, and Mexico. The company operates a dual market strategy, selling to both do-it-yourself (DIY) and professional service provider customers. O'Reilly's competitive advantages include its extensive store network, strategic distribution, and technically proficient store personnel.
Sales reached $3.98 billion, up from $3.71 billion in the same quarter last year, primarily due to a 3.4% increase in comparable store sales, $73 million from new stores, sales from an extra day due to Leap Day, and sales from the acquired Vast Auto stores.
Gross profit increased to $2.03 billion, or 51.2% of sales, from $1.89 billion, or 51.0% of sales, driven by higher sales and improved acquisition costs, partially offset by lower gross margins from the acquired Vast Auto business.
Net income rose to $547 million, or 13.8% of sales, compared to $517 million, or 13.9% of sales, in the same period last year, driven by improved sales and gross profit, and lower income tax provision.