Why O'Reilly Automotive Stock Gained After-Hours

O'Reilly Automotive Inc ORLY shares are trading higher in Wednesday's after-hours session after the company reported third-quarter financial results and issued 2023 guidance.

What To Know: O'Reilly Automotive reported earnings of $10.72 per share, compared to the estimate of $10.40. Sales came in at $4.20 billion, as opposed to the $4.094 billion estimate.

Additionally, the company also reported comparable store sales growth of 8.7%.

The 2023 earnings per share is estimated to be between $37.80 and $38.30, while total revenue is anticipated to be between $15.7 billion and $15.8 billion, versus the $15.69 billion estimate.

"We are pleased to once again report another quarter of strong performance and profitable growth, highlighted by an 8.7% increase in comparable store sales and a 17% increase in diluted earnings per share to $10.72," O'Reilly CEO Greg Johnson stated.

"Team O'Reilly's consistent execution of our proven dual market strategy and dedication to our culture of excellent customer service resulted in another quarter of mid-teen professional and solid DIY comparable store sales growth."

Johnson added, "Our profitable growth is the direct result of our Team Members' hard work and unwavering commitment to providing the highest level of service in our industry, and I would like to thank each of them for their ongoing contributions to our long-term success."

Related Link: KLA Corp Stock Inches Higher Following Q1 Earnings - Here's Why

ORLY Price Action: Shares of ORLY were up 4.83% at $917.21 in the after-hours session at the time of publication, according to Benzinga Pro.

Photo: Ryan Doka from Pixabay