O'Reilly Automotive Inc. said Wednesday its profit and revenue
rose, marking the seventh-straight quarter the auto-parts retailer
beat estimates.
The Springfield, Mo.-based company has been building its
distribution network and expanding its store footprint. This year,
O'Reilly plans to add a net 205 stores, compared with 200 stores in
2014. In the latest period, it opened 34 stores.
O'Reilly, like other auto parts stores, has profited from
do-it-yourself customers who opted to fix their cars rather than
buy new ones.
The company also said it now expects total revenue for the year
ending in December to be in the range of $7.75 billion to $7.85
billion, up from its previous projection of $7.6 billion to $7.8
billion. O'Reilly adjusted its full-year guidance to $8.59 to $8.69
a share, up from its previous projection of $8.42 to $8.52 per
share.
Overall for the period ended June 30, O'Reilly reported a profit
of $234 million, or $2.32 a share, up from $205.6 million, or $1.94
a share, a year earlier.
The company had projected earnings between $2.17 to $2.21 for
the second quarter.
Revenue rose 10.2% to $2.03 billion from $1.85 billion, topping
analysts' consensus of $1.99 billion. Same-store sales increased to
7.2% from 5.1% in the previous year.
Shares of O'Reilly, up 60.5% in the past 12 months, were
unchanged in after hours.
Write to Cassandra Jaramillo at cassandra.jaramillo@wsj.com
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