By Daniel Shvartsman
Investing.com - O’Reilly Automotive (NASDAQ:ORLY) shares rose after the auto parts retailer reported fourth quarter earnings that beat analysts' forecasts and revenue that topped expectations.
O’Reilly Automotive announced earnings per share of $7.64 on revenue of $3.29B. Analysts polled by Investing.com anticipated EPS of $6.04 on revenue of $3.1B. The full-year financial results were "the best financial results" in company history for the second year in a row.
In the press release, O'Reilly's CEO and Co-President Greg Johnson said, "Our full-year 2021 comparable store sales growth of 13.3%, on top of our strong 2020 performance, represents a two-year stack of 24.2% and is a testament to our Team’s unrelenting dedication to our customers."
The company also issued guidance for 2022, including revenue of $14.2B-$14.5B, implying growth of 6.8-9% for the year. They call for comparable store sales growth of 5-7% along with 175-185 new store openings on net. The company expects $32.35-$32.85/share in diluted earnings and $1.3B-$1.6B in free cash flow.
O’Reilly Automotive shares gained 4.8% in after-hours trading following the report.