O’Reilly Automotive: 2Q Earnings Snapshot
SPRINGFIELD, Mo. (AP) _ O’Reilly Automotive Inc. (ORLY) on Wednesday reported second-quarter net income of $353.7 million.
The Springfield, Missouri-based company said it had net income of $4.51 per share.
The results did not meet Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $4.67 per share.
The auto parts retailer posted revenue of $2.59 billion in the period, which also missed Street forecasts. Eight analysts surveyed by Zacks expected $2.6 billion.
O’Reilly Automotive expects full-year earnings to be $17.37 to $17.47 per share, with revenue in the range of $10 billion to $10.3 billion.
O’Reilly Automotive shares have increased 15% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 20%. In the final minutes of trading on Wednesday, shares hit $396.50, an increase of 35% in the last 12 months.