Autoparts retailer O'Reilly Automotive Inc. (ORLY), Tuesday lowered its earnings and comparable store sales guidance for the second quarter. Shares of O'Reilly are down about four percent in after-hours trade.
The Springfield, Missouri-based company now expects second-quarter earnings in the lower end of its previously announced guidance range of $1.13 to $1.17 per share.
On average, 21 analysts polled by Thomson Reuters currently estimate earnings of $1.19 per share for the second quarter. Analysts' estimates typically exclude one-time items.
O'Reilly also lowered its second-quarter comparable store sales guidance to a range of 2 to 2.5 percent, from prior estimate of 3 to 5 percent.
Chief Executive Greg Henlsee said, "Our previously announced second quarter comparable store sales guidance reflected our slow start to the quarter in April due, we believed, to the shift of some business into the first quarter as a result of the early spring weather in many of our markets, and we expected sales trends would stabilize as the quarter progressed. We saw improved comparable store sales results for the month of May; however, comparable store sales in June were below our expectations, and we now expect comparable store sales for the second quarter to finish in the range of 2.0% to 2.5%."
The company will release its second quarter results on July 25, with a conference call on July 26.
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