O'Reilly's (ORLY) Q2 Earnings & Revenues Miss Estimates
Zacks Investment Research | Jul 28, 2016 07:08AM ET
O’Reilly Automotive Inc. (NASDAQ:ORLY) reported a 16% increase in earnings to $2.65 per share in the second quarter of 2016 from $2.29 in the year-ago quarter. However, earnings missed the Zacks Consensus Estimate of $2.67. Net income improved 10% to $258 million (11.8% of sales) from $234 million (11.5% of sales) in the second quarter of 2015.
Quarterly revenues went up 7% to $2.18 billion from $2.04 billion a year ago. Revenues, however, fell marginally short of the Zacks Consensus Estimate of $2.19 billion. Comparable store sales increased 4.3% in the reported quarter compared with a 7.2% rise in the prior-year quarter.
Gross profit improved 6% to $1.13 billion (51.8% of sales) from $1.06 billion (52% of sales) a year ago. Selling, general and administrative expenses increased 4% year over year to $702 million (32.3% of sales) from $673 million (33.1% of sales). Operating income went up 10% to $425 million (19.5% of sales) from $386 million (19% of sales) a year ago.
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.