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Based in Springfield, Missouri, O'Reilly Automotive, Inc. (ORLY) is a leading retailer and supplier of automotive aftermarket parts, tools, supplies, equipment, and accessories in the U.S. With a market cap of $60.24 billion, O'Reilly is renowned for its extensive product range and exceptional customer service. The company caters to both do-it-yourself customers and professional service providers, ensuring a comprehensive suite of solutions for various automotive needs. O'Reilly Automotive is scheduled to announce its fiscal Q2 earnings results after the market closes on Wednesday, Jul. 24.
Ahead of the event, analysts expect ORLY to report a profit of $11.06 per share, an 8.2% increase from $10.22 per share in the year-ago quarter. The company has consistently surpassed Wall Street’s EPS estimates in its last four quarterly reports.
Its adjusted earnings of $9.20 per share for the last reported quarter surpassed the consensus estimate marginally. The performance in the last quarter was driven by strong comparable store sales growth and store network expansion, including the acquisition of Vast Auto.
For fiscal 2024, analysts expect ORLY to report EPS of $41.86, up 8.8% from $38.47 in fiscal 2023.
ORLY stock is up 7.7% on a YTD basis, underperforming the broader S&P 500 Index's ($SPX) 16.8% gains. However, it has outperformed the Consumer Discretionary Select Sector SPDR Fund's (XLY) 5.9% returns over the same time frame.
ORLY reported its Q1 results on Apr. 24, with revenue coming in at $3.98 billion, exceeding the forecasted $3.96 billion. For the full year, O'Reilly Automotive projects revenue between $16.8 billion and $17.1 billion. Despite reporting better-than-expected results, shares of ORLY fell 4% the day after the company reported its earnings due to investor concerns over its valuation and profit margin.
The consensus opinion on ORLY stock is optimistic, with an overall “Moderate Buy” rating. Out of 22 analysts covering the stock, 14 advise a “Strong Buy” rating, one suggests a “Moderate Buy” rating, and seven suggest a “Hold.” ORLY's average analyst price target is $1,150, indicating a potential upside of 12.4% from the current levels.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
