/O)
Springfield, Missouri-based O'Reilly Automotive, Inc. (ORLY) operates as a retailer and supplier of automotive aftermarket parts, tools, supplies, equipment, and accessories. Valued at $68 billion by market cap, the company sells its products to do-it-yourself customers, professional mechanics, and service technicians. The leading retailer in the automotive aftermarket industry is expected to announce its fiscal third-quarter earnings for 2024 on Wednesday, Oct. 23.
Ahead of the event, analysts expect ORLY to report a profit of $11.57 per share on a diluted basis, up 7.9% from $10.72 per share in the year-ago quarter. The company beat the consensus estimates in three of the last four quarters while missing the forecast on another occasion.
For the full year, analysts expect ORLY to report EPS of $41.10, up 6.8% from $38.47 in fiscal 2023. Its EPS is expected to rise 11.1% year over year to $45.68 in fiscal 2025.
ORLY stock has outperformed the S&P 500’s ($SPX) 19.5% gains on a YTD basis, with shares up 21% during this period. Similarly, it outshined the Consumer Discretionary Select Sector SPDR Fund’s (XLY) 9.4% gains over the same time frame.
ORLY's success can be attributed to its strategic expansion into Canada, through its Groupe Del Vasto acquisition, fueling growth and establishing a strong market presence. With new stores and distribution centers in lucrative areas, O'Reilly is well-positioned for continued growth. Their dual-market approach and robust distribution system are key factors in their success.
On Jul. 24, ORLY shares closed up marginally after reporting its Q2 results. Its EPS of $10.55 did not meet Wall Street expectations of $10.95. The company’s revenue was $4.27 billion, missing Wall Street forecasts of $4.32 billion. ORLY expects full-year EPS to be between $40.75 and $41.25, and expects revenue to be between $16.6 billion and $16.9 billion.
Analysts’ consensus opinion on ORLY stock is reasonably bullish, with a “Moderate Buy” rating overall. Out of 22 analysts covering the stock, 14 advise a “Strong Buy” rating, one suggests a “Moderate Buy” rating, and seven give a “Hold.” ORLY’s average analyst price target is $1194.42, indicating a potential upside of 3.9% from the current levels.
On the date of publication, Neha Panjwani 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.
