O’Reilly Automotive Inc (NASDAQ:ORLY), a leading retailer in the automotive aftermarket industry, stock rose 3.26% (As on February 9, 11:28:25 AM UTC-4, Source: Google Finance) after the company posted better than expected results for the fourth quarter of FY 22. Gross profit for the fourth quarter increased 7% to $1.85 billion (or 50.9% of sales) from $1.73 billion (or 52.7% of sales) for the same period one year ago. Selling, general and administrative expenses (“SG&A”) for the fourth quarter increased 11% to $1.17 billion (or 32.2% of sales) from $1.06 billion (or 32.2% of sales) for the same period one year ago. Operating income for the fourth quarter increased 1% to $682 million (or 18.7% of sales) from $676 million (or 20.5% of sales) for the same period one year ago. Net income for the fourth quarter ended December 31, 2022, increased 2%, to $529 million (or 14.5% of sales) from $519 million (or 15.8% of sales) for the same period one year ago.

ORLY in the fourth quarter of FY 22 has reported the adjusted earnings per share of $8.37, beating the analysts’ estimates for the adjusted earnings per share of $7.71, according to Zacks Investment Research. The company had reported the adjusted revenue growth of 11 percent to $3.64 billion in the fourth quarter of FY 22, beating the analysts’ estimates for revenue of $3.52 billion. Comparable store sales increased 9.0% for the fourth quarter ended December 31, 2022, on top of 14.5% for the same period one year ago. Comparable store sales increased 6.4% for the year ended December 31, 2022, on top of 13.3% for the same period one year ago.

Additionally, during the fourth quarter ended December 31, 2022, the Company repurchased 0.5 million shares of its common stock, at an average price per share of $786.19, for a total investment of $421 million. Subsequent to the end of the fourth quarter and through the date of this release, the Company repurchased an additional 0.4 million shares of its common stock, at an average price per share of $807.84, for a total investment of $355 million. As of the date of this release, the Company had approximately $1.37 billion remaining under its current share repurchase authorization.

O’Reilly Automotive expects full-year earnings to be $35.75 to $36.25 per share, with revenue expected to be in the range of $15.2 billion to $15.5 billion.