O'Reilly Automotive (ORLY) Tops Q2 EPS by 22c; Offers FY18 EPS Guidance Above Consensus
O'Reilly Automotive (NASDAQ: ORLY) reported Q2 EPS of $4.28, $0.22 better than the analyst estimate of $4.06.
Mr. Johnson continued, “We are establishing our third quarter comparable store sales guidance at a range of 2% to 4%. We expect solid business trends to continue; however, during the quarter we face the headwind from an additional Sunday, our lowest volume day, and short-term pressure to miles driven, as consumers adjust to increasing gas prices. Based on our strong year-to-date performance, we are increasing our full-year earnings per share guidance from a range of $15.30 to $15.40 to a range of $15.70 to $15.80.”
Mr. Johnson concluded, “We opened 128 net, new stores during the first half of 2018, and we are very well positioned to achieve our target of 200 net, new stores. Our new stores continue to perform well, and we remain confident in our ability to grow our market share in both new and existing areas. Overall, the long-term demand drivers in our industry remain solid, including a growing and aging vehicle fleet driven over three trillion miles each year, and we are extremely confident in our Team’s ability to continue to provide industry-leading customer service, supported by unsurpassed parts availability. We would like to again thank Team O’Reilly for our solid results in the first half of 2018, and we look forward to building on that success during the second half of the year.”
GUIDANCE:
O'Reilly Automotive sees FY2018 EPS of $15.70-$15.80, versus the consensus of $15.54. O'Reilly Automotive sees FY2018 revenue of $9.4-9.6 billion, versus the consensus of $9.5 billion.
For earnings history and earnings-related data on O'Reilly Automotive (ORLY) click here.