O'Reilly Automotive raised its full-year revenue and earnings guidance following a second quarter that saw comparable store sales rise 6 percent. The company now expects total revenue between $18.9 billion and $19.2 billion, up from a prior range of $18.7 billion to $19.0 billion, and diluted earnings per share of $3.20 to $3.30, increased from $3.15 to $3.25. Comparable store sales guidance was lifted to 4 to 6 percent from 3 to 5 percent, reflecting first-half outperformance, while gross margin guidance was maintained at 51.5 to 52 percent. Professional comparable store sales grew 10 percent, marking the fourth consecutive quarter of double-digit growth in that segment, and the company repurchased 17 million shares for $1.5 billion during the quarter. CEO Brad Beckham stated the company has no intention of pursuing a large transformative acquisition, focusing instead on smaller tuck-in opportunities and organic growth.
O’Reilly Automotive IncRaised full-year revenue and EPS guidance after strong Q2 with comparable store sales up 6%.
