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O'Reilly Automotive posts strong results from its DIY segment
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O'Reilly Automotive Inc (NASDAQ:ORLY) has a ROE of 681.00%, which is one of the highest amongst large cap companies.
Our DIY business posted strong result and significantly contributed to the company's 16.2% increase in stores sales for the quarter. In addition, our professional business also performed well generating strong comparable sales than was projected for the months of May and June.
The company posted a high operating profit margin of 23.8% in the 2Q due to strong sales and strong expense control. The profit margin exceeded the company's previous best single quarter performance by more than 300 basis points. We reported $712 million or 84% increase in net cash from operating activities.
| 2Q 2020 | 2Q 2019 | 1H 2020 | 1H 2019 | |
| Sales | $3.09 billion (up 19%) | $2.59 billion | $5.57 billion (up 11%) | $5.00 billion |
| Gross profit | $1.64 billion (up 20%) | $1.37 billion | $2.93 billion (up 11%) | $2.65 billion |
| Selling, general and administrative expenses | $901 million (up 4%) | $870 million | $1.77 billion (up 4%) | $1.70 billion |
| Operating income | $736 million (up 48%) | $498 million | $1.16 billion (up 23%) | $943 million |
| Net income | $532 million (up 50%) | $354 million | $832 million (up 23%) | $675 million |
| Diluted EPS | $7.10 (up 57%) | $4.51 | $11.06 (up 29%) | $8.56 |
| Comparable store sales | 16.2% Increase | 3.4% | 7.5% Increase | 3.3% |
| CFO | 1.56 billion | 847 million | ||
| Cash and cash equivalents | 872.42 million | 55.81 million | ||
| Free cash flow | 985.68 million | 259.76 million | 1.212 billion | 538.96 million |
Share Repurchase Program
| Repurchased Shares | Average Price | Total Investment | |
| 2Q 2020 | 0.2 million | $417.79 | $77 million |
| 1H 2020 | 1.7 million | $390.14 | $651 million |
| 2Q end | 0.1 million | $423.09 | $36 million |
| Since Inception | 77.9 million | $165.10 | $12.87 billion |
The company has around $882 million under its share repurchase authorization as of the date of this release.
Moody's launched new environmental sustainability commitments
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Moody's Corporation (NYSE:MCO) has a ROE of 256.40%, which is one of the highest amongst large cap companies.
Moody's Corporation (NYSE:MCO) has launched new environmental sustainability commitments and progress milestones that include the company's plan to expand its carbon neutrality. The company is also working on procuring 100% renewable energy and has put in place strategies to cut its greenhouse gas emissions. Moody achieved carbon neutrality for the first time in 2019 and currently plans to further cut its greenhouse gas emissions.
Citrix Systems partners with Microsoft
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Citrix Systems, Inc. (NASDAQ:CTXS) has a ROE 249.50%, which is one of the highest amongst large cap companies.
Citrix has partnered with Microsoft to simplify cloud transformation as well as speedy adoption of virtual desktops and digital workplaces. Digital workplaces are known for offering greater agility, security, and productivity. Our technology enables employees to work from anywhere. It is the role of IT to ensure that apps needed to facilitate remote working are provided in a secure and reliable manner.
Citrix Systems, Inc. (NASDAQ:CTXS) today launched Citrix Web App and API Protection, the company's new cloud-delivered service which offers comprehensive security for applications and API in multi-cloud environments.
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COMTEX_369225769/2700/2020-08-11T08:47:24
Is there a problem with this press release? Contact the source provider Comtex at editorialpr@comtex.com.
