News
James B. Bell
- February 07, 2024
O'Reilly Automotive, a leading auto-parts retailer, has announced growth in both its top and bottom lines for the fourth quarter ended Dec. 31. The company reported net income of $552.5 million, or $9.26 per share, compared to $528.6 million, or $8.37 per share, in the same period last year.
Sales also saw a positive trajectory, reaching $3.83 billion, a rise from $3.64 billion. Despite falling slightly below the expectations of analysts polled by FactSet, who projected sales of $3.86 billion, O'Reilly Automotive remains optimistic about its performance.
CEO Brad Beckham praised the team for their remarkable achievement in delivering double-digit professional comparable-store sales growth, despite encountering anticipated year-over-year pressure on the DIY side of the business.
Looking ahead to 2024, O'Reilly forecasts revenue in the range of $16.8 billion to $17.1 billion, with earnings per share expected to be between $41.05 and $41.55. However, according to FactSet analysts, the projected revenue of $16.8 billion falls short of their estimate of $16.8 billion, and the anticipated earnings per share of $42.87.
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