O'Reilly Beats Estimates, Boosts Outlook

O'Reilly Automotive Inc. said Wednesday its profit and revenue rose, marking the seventh-straight quarter the auto-parts retailer beat estimates.

The Springfield, Mo.-based company has been building its distribution network and expanding its store footprint. This year, O'Reilly plans to add a net 205 stores, compared with 200 stores in 2014. In the latest period, it opened 34 stores.

O'Reilly, like other auto parts stores, has profited from do-it-yourself customers who opted to fix their cars rather than buy new ones.

The company also said it now expects total revenue for the year ending in December to be in the range of $7.75 billion to $7.85 billion, up from its previous projection of $7.6 billion to $7.8 billion. O'Reilly adjusted its full-year guidance to $8.59 to $8.69 a share, up from its previous projection of $8.42 to $8.52 per share.

Overall for the period ended June 30, O'Reilly reported a profit of $234 million, or $2.32 a share, up from $205.6 million, or $1.94 a share, a year earlier.

The company had projected earnings between $2.17 to $2.21 for the second quarter.

Revenue rose 10.2% to $2.03 billion from $1.85 billion, topping analysts' consensus of $1.99 billion. Same-store sales increased to 7.2% from 5.1% in the previous year.

Shares of O'Reilly, up 60.5% in the past 12 months, were unchanged in after hours.

Write to Cassandra Jaramillo at [e-mail]

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