O'Reilly Automotive falls after missing Q1 profit estimates

OReilly Automotive

24/04/2024 23:32

** Shares of auto parts distributor O'Reilly Automotive
 ORLY.O  fall 4% to $1,049 after-hours
    ** ORLY's Q1 profit misses analysts' estimates as
investments in store expansion and acquisition of advanced
products amid popularity of EVs, drive up expenses
    ** Company posts profit of $9.20/shr compared with analysts'
est. of $9.26/shr - LSEG 
    ** ORLY posts sales of $3.98 bln for quarter ended March 31,
mostly in line with estimates
    ** Company forecasts 2024 adj. profit/shr between $41.35 and
$41.85, below analysts' est. of $42.42/shr
    ** Up to last close, stock has risen 14.97%

 (Reporting by Juby Babu in Mexico City)
 ((Juby.Babu@thomsonreuters.com;))