O’Reilly Auto posts 11% jump in yearly profits

O’Reilly Automotive Inc.’s (Nasdaq: ORLY) full-year earnings improved by 11.4 percent to $1 billion.

Earnings per diluted share increased by $1.70 to $10.73, representing the company’s eighth-straight year of diluted share earnings growth greater than 15 percent, according to a news release.

“We are very pleased to once again report another profitable quarter and a solid finish to 2016,” O’Reilly Automotive CEO Greg Henslee said in the release. “Our team’s dedication to providing consistent, unsurpassed levels of customer service drove our comparable store sales growth of 4.8 percent for the quarter, which is on top of a very strong increase of 7.7 percent in 2015.”

Full-year financial notes:
    •    Fourth-quarter earnings rose 12.6 percent to $246 million.
    •    The company repurchased 5.7 million shares during the year at an average price of $264.21 per share, an investment of roughly $1.5 billion.
    •    During the year, O’Reilly Automotive opened 212 new stores, acquired 48 and closed two, resulting in a final count of 4,829.

O’Reilly Automotive posted assets of $7.2 billion as of Dec. 31, according to the release.

ORLY shares were trading at $272.91 as of 11:27 a.m., compared with a 52-week range of $230.17 to $292.84.

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