O'Reilly Automotive (ORLY) Misses Q3 EPS by 2c, Guides Modestly Below the Street, Acquires Bond Auto Parts
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O'Reilly Automotive (NASDAQ: ORLY) reported Q3 EPS of $2.90, $0.02 worse than the analyst estimate of $2.92. Revenue for the quarter came in at $2.22 billion versus the consensus estimate of $2.22 billion.
Third quarter comparable store sales increase of 4.2%.
Entered into definitive agreement to purchase Bond Auto Parts.
O'Reilly Automotive sees Q4 2016 EPS of $2.44-$2.54, versus the consensus of $2.56.
O'Reilly Automotive sees FY2016 EPS of $10.58-$10.68, versus the consensus of $10.73.
O’Reilly’s President and CEO, Greg Henslee commented, “We are proud to report another very profitable quarter, highlighted by a record 20.2% operating margin and a comparable store sales increase of 4.2%, which was on top of our very strong 7.9% comparable store sales results from our third quarter last year. Team O’Reilly’s relentless focus on providing consistent, excellent customer service drove our top-line performance, and our unwavering commitment to profitable growth translated this growth into third quarter diluted earnings per share of $2.90, which exceeded the top end of our guidance for the quarter. As a reminder, our third quarter 2015 diluted earnings per share results of $2.64 included a larger than typical tax benefit of approximately $0.11 from the resolution of certain historical tax positions. I would like to take this opportunity to thank each of our over 74,000 Team Members for their continued hard work and dedication to providing unsurpassed levels of service to our customers and for their many contributions to our ongoing success.”
Mr. Henslee continued, “We are also very excited to announce we have entered into a definitive agreement to purchase substantially all of the assets of Bond Auto Parts, a privately held automotive parts supplier, which operates 48 stores in Vermont, New Hampshire, Massachusetts and New York. Over the past 60 years, the Bond family has built a very successful business based on a culture of providing excellent customer service, which makes their company a perfect fit with O’Reilly. I would like to welcome the Bond team members to O’Reilly, and we look forward to the opportunities ahead of us as we continue our growth in the Northeast.”
For earnings history and earnings-related data on O'Reilly Automotive (ORLY) click here.
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