O’Reilly Automotive Earnings: Comparable Store Sales Increase 5.7 Percent

S&P 500 (NYSE:SPY) component O’Reilly Automotive, Inc.’s (NASDAQ:ORLY) net income increased in the first quarter. O’Reilly Automotive Inc offers automotive aftermarket parts, tools, supplies and accessories to individual customers and professional installers.

Don’t Miss: Wall St. Cheat Sheet’s newest Feature Trades of the Month!

O’Reilly Automotive Earnings Cheat Sheet for the First Quarter

Results: Net income for O’Reilly Automotive, Inc. rose to $102.5 million (72 cents/share) vs. $97.5 million (70 cents/share) in the same quarter a year earlier. A rise of 5.1% from the year earlier quarter.

Revenue: Rose 8% to $1.38 billion YoY.

Actual vs. Wall St. Expectations: ORLY reported adjusted net income of 83 cents/share. By this measure, the company topped the mean analyst estimate of 78 cents/share. Estimates ranged from 64 cents per share to 83 cents per share.

Quoting Management: Commenting on the Company’s quarterly results, Greg Henslee, O’Reilly’s CEO and Co-President stated, “We are happy to report another very profitable quarter. Our solid start to 2011 was highlighted by a comparable store sales increase of 5.7% and a 100 basis point improvement in operating margin which drove an increase in adjusted diluted earnings per share of 19%.”

Key Stats:

The company has now seen net income rise in three-straight quarters. In the fourth quarter of the last fiscal year, net income rose 47% and in the third quarter of the last fiscal year, the figure rose 33.6%.

Gross margins grew 0.1 percentage point to 48.4%. The growth seemed to be driven by increased revenue, as the figure rose 8% from the year earlier quarter while costs rose 7.7%.

Over the last five quarters, revenue has increased 10.7% on average year over year. The biggest increase came in the third quarter of the last fiscal year, when revenue rose 13.3% from the year earlier quarter.

Competitors to Watch: Advance Auto Parts, Inc. (NYSE:AAP), AutoZone, Inc. (NYSE:AZO), The Pep Boys – Manny, Moe & Jack (NYSE:PBY), U.S. Auto Parts Network, Inc. (NASDAQ:PRTS), Pick-Ups Plus, Inc. (PUPS), Tilden Associates Inc (TLDN), Midnight Hldgs. Group Inc (MHGI), Aftermarket Enterprises Inc (AFTM), and Halfords Group plc (HFD).

Today’s Performance: Shares of ORLY were unchanged in after hours trading.

Don’t Miss Wall St. Cheat Sheet’s newest Feature Trades of the Month!