O’Reilly Automotive Cuts FY22 Outlook As Q2 Earnings Falls Brief

  • O’Reilly Automotive Inc (NASDAQ: ORLY) reported second-quarter FY22 gross sales development of 6% year-on-year to $3.67 billion, lacking the consensus of $3.71 billion.

  • Comparable retailer gross sales rose 4.3% versus final 12 months and elevated 30.4% on a three-year stack foundation.

  • The gross revenue elevated 3.2% Y/Y to $1.88 billion, and the gross margin contracted 140 foundation factors to 51.3%.

  • The working margin compressed 120 foundation factors to 21.8%, and working earnings for the quarter rose 0.4% to $798.5 million.

  • The corporate held $253.9 million in money and equivalents as of June 30, 2022. Money supplied by working actions year-to-date totaled $1.4 billion.

  • EPS of $8.78 missed the analyst consensus of $8.99.

  • Outlook: O’Reilly lowered its FY22 gross sales outlook to $14 billion – $14.3 billion (prior $14.2 billion – $14.5 billion), towards the consensus of $14.29 billion.

  • The corporate expects FY22 EPS of $31.25 – $31.75 (prior $32.35 – $32.85) versus the consensus of $32.92.

  • The corporate lowered its full-year comparable retailer gross sales steering to three% – 5% (prior 5% – 7%).

  • Value Motion: ORLY shares are buying and selling decrease by 3.54% at $665.01 in premarket on the final examine Thursday.

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