O'Reilly Automotive (ORLY) Cuts Q2 Comps Growth Outlook, Sees EPS at Low-End of Range; Cites Warmer Weather

June 27, 2012 6:43 AM EDT Send to a Friend
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Price: $176.10 +0.69%

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O'Reilly Automotive, Inc. (Nasdaq: ORLY), a leading retailer in the automotive aftermarket industry, today announced updated 2012 second quarter comparable store sales guidance of 2.0% to 2.5%, which compares to previously issued second quarter comparable store sales guidance of 3% to 5%. In addition, the Company expects earnings per share for the second quarter to be in the lower end of the previously announced range of $1.13 to $1.17.

The Street sees EPS of $1.19.

Greg Henlsee, CEO and Co-President stated, "Our previously announced second quarter comparable store sales guidance reflected our slow start to the quarter in April due, we believed, to the shift of some business into the first quarter as a result of the early spring weather in many of our markets, and we expected sales trends would stabilize as the quarter progressed. We saw improved comparable store sales results for the month of May; however, comparable store sales in June were below our expectations, and we now expect comparable store sales for the second quarter to finish in the range of 2.0% to 2.5%."


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