SPRINGFIELD, Mo. (AP) _ O’Reilly Automotive Inc. (ORLY) on Wednesday reported first-quarter net income of $501.6 million.
The Springfield, Missouri-based company said it had net income of $7.06 per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $5.36 per share.
The auto parts retailer posted revenue of $3.09 billion in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $2.8 billion.
O’Reilly Automotive expects full-year earnings to be $24.75 to $24.95 per share, with revenue in the range of $11.8 billion to $12.1 billion.
O’Reilly Automotive shares have climbed 17% since the beginning of the year, while the S&P’s 500 index has risen 11%. In the final minutes of trading on Wednesday, shares hit $528.95, a climb of 38% in the last 12 months.
