O'Reilly Automotive (ORLY) Q2 Comps Fall Well Short of Outlook

O’Reilly Automotive, Inc. (Nasdaq: ORLY) announced its 2017 second quarter comparable store sales results of 1.7%, which fell short of previously issued second quarter comparable store sales guidance of 3% to 5%, and announced the release date for its full second quarter 2017 results as Wednesday, July 26, 2017, with a conference call to follow on Thursday, July 27, 2017.

Greg Henslee, O’Reilly’s CEO stated, “After exiting the first quarter and entering April on an improved sales trend, we faced a more challenging sales environment than we expected for the remainder of the quarter. Our second quarter comparable store sales results of 1.7% represent an improvement over our first quarter, but fell below our guidance of 3% to 5%, due to what we believe were continued headwinds from a second consecutive mild winter and overall weak consumer demand. The comparable store sales shortfall will also have a consequent impact on our operating profitability, which we will report in our full second quarter earnings release on July 26th.” Mr. Henslee added, “While we are disappointed with our sales results in the first half of the year, we remain confident in the long-term health of our industry and our team’s ability to provide exceptional customer service and take market share in this challenging demand environment.”

You May Also Be Interested In

• Etsy upgraded to buy at BofA on durable growth, buyback potential
• LivePerson adjourns stockholder vote on SoundHound AI merger to Sept. 2
• Sysco adds two directors, targets AI-driven cost savings of $100M