Shares of O'Reilly Automotive Inc. (ORLY: Quote) are losing ground in pre-market trading on Wednesday after the autoparts retailer said its second-quarter earnings would come in at the lower end of its outlook.
The stock is down $13.10, or 13.6 percent, to $83.34 in pre-market trading.
The Springfield, Missouri-based company now expects second-quarter earnings at 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.
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by RTT Staff Writer
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