By Denny Jacob
O’Reilly Automotive raised its 2023 outlook in tandem with its latest quarterly results.
The auto parts retailer on Wednesday forecast revenue between $15.7 billion and $15.8 billion, up from its prior guidance in the range of $15.4 billion and $15.7 billion. Earnings per-share was guided between $37.80 and $38.30 versus its prior outlook set between $37.05 and $37.55.
Comparable-store sales for the year were forecast between 7% and 8%, up from its prior range of 5% to 7%.
Chief Executive Greg Johnson said the company raised its comparable- store sales guidance based on its year-to-date performance and solid start to the fourth quarter in October.
Write to Denny Jacob at [email protected]
Read the full article here
