O’Reilly Automotive Shows Signs of Health
July 29, 2009 by Stephen Kersey
Filed under Business
While many companies across the globe are cutting corners just to stay afloat, O’Reilly Automotive Inc. saw a healthy jump in profit during their latest quarterly report.
In the second quarter of 2008, O’Reilly Automotive Inc. had a profit of $55.8 million. This year, that profit was up almost $30 million to a total of $85.5 million. Revenue for the quarter was also very impressive. With $1.3 billion in sales, O’Reilly Automotive Inc. saw an improvement of nearly 80% compare to last year.
Oddly enough, some industry experts believe that the current state of the economy is actually helping O’Reilly Automotive. Instead of going out and buying a new car, many would-be car buyers are purchasing auto parts and doing their own repairs. Since O’Reilly Automotive Inc. mostly sells auto parts, there is some sense to that logic.
Said Ted Wise, the company’s co-president and COO: “As we continue to grow the O’Reilly Brand across the country, our team continues to focus on the fundamentals of providing industry-leading customer service to our professional installer and DIY customers in all our markets.”
O'Reilly Automotive loves DIYers (Image: Flickr)
