YOUR BUSINESS AUTHORITY

Springfield, MO

O’Reilly Auto board approves repurchase of $1B more shares

Posted online

O’Reilly Automotive Inc.’s (Nasdaq: ORLY) board voted once again to increase the total for its share repurchase program.

The addition of another $1 billion brings the aggregate authorization to $9.75 billion since January 2011, according to a news release and Springfield Business Journal archives.

The new three-year authorization started Sept. 1. Under the plan, O’Reilly Automotive may purchase its shares at market prices, but there’s no assurance any buybacks will be conducted.

The Springfield-based auto parts retailer last increased its share buyback program by $1 billion in May, according to a separate release.

O’Reilly Automotive recently reported second-quarter net income of $282.8 million, a 10 percent increase from a year earlier. During the second quarter ending June 30, the company spent $852 million buying back 3.5 million shares from stockholders.

Stock prices rose 2.5 percent this morning on the latest share repurchase news. Shares were trading at $202 as of 8:58 a.m., compared with a 52-week range of $169.43 to $268.57.

Comments

No comments on this story |
Please log in or register to add your comment
Editors' Pick

From the Ground Up: Culver’s

Springfield’s third Culver’s restaurant is underway at 1400 E. Sunshine St.

Most Read
SBJ Live logo
MOST-WATCHED VIDEOS
Networking? Always Follow Up.

“I think networking has been key too the core success I’ve had,” says Bruce Nasby, President of Global Advisory Associates. Nasby recommends sending an email specifically detailing who you are, …

Booked - Passion and Perseverance “Being in higher education, we kind of devour books,” says Carol Taylor, President of Evangel University. She recommends Angela Duckworth’s “Grit: The Power of Passion and Perseverance.” …
Learn Something about Everything “Try to learn something about everything and everything about something,” says Larissa Warren, an associate with Husch Blackwell and one of Springfield Business Journal’s Trusted Advisers for …
"It wasn't too serious to me..." “It wasn’t a job to me at first. I was just enjoying my time,” says Carolyn Billingsley, Producer and Founder of Carolyn Billingsley Productions. Billingsley started her production company at …
Artful Return on Investment “The arts aren’t just for some people and not for others, they belong to everybody.” says Jane Chu, Chairman of the National Endowment for the Arts. Chu says the arts contribute three-quarters …