O’Reilly Automotive (ORLY) disappointed investors with its third-quarter earnings report, missing both revenue and earnings estimates. The company also lowered its FY24 guidance, sending shares down slightly in after-hours trading. However, despite the miss, several analysts remain bullish on the stock, raising their price targets.
O’Reilly Automotive (ORLY) reported mixed first quarter results, with earnings per share (EPS) of $9.20 coming in below analyst estimates of $9.27, while revenue of $3.98 billion met expectations. The company also adjusted its guidance for fiscal 2024, with EPS now projected to be in the range of $41.35-$41.85, below the consensus estimate of $42.40. Revenue guidance was also revised down, with the company now expecting $16.80 billion-$17.10 billion, compared to the consensus estimate of $16.95 billion. Despite the mixed results, O’Reilly Automotive’s stock price closed up 6.86% in the last three months and up 21.71% in the last 12 months.
