O'Reilly Automotive Issues Guidance; Announces Share Repurchase Program

(RTTNews) - O'Reilly Automotive, Inc. (ORLY) announced, for full year 2016, the company expects: total revenue in a range of $8.4 billion to $8.6 billion; and earnings per share in a range of $10.10 to $10.50. Analysts polled by Thomson Reuters expect the company to report profit per share of $10.39 on revenue of $8.50 billion. Analysts' estimates typically exclude special items.

For the first-quarter of 2016, the company expects earnings per share in a range of $2.41 to $2.51. Analysts polled by Thomson Reuters expect the company to report profit per share of $2.38.

Comparable store sales are expected to rise 3% to 5% for both the first quarter, and full year 2016. Comparable store sales increased 7.7% for the fourth quarter ended December 31, 2015, and increased 7.5% for the year ended December 31, 2015.

The company also announced that its Board approved a resolution to increase the authorization amount under its share repurchase program by an additional $750 million, raising the aggregate authorization under the program to $6.25 billion. The additional $750 million authorization is effective for a three-year period, beginning on February 10, 2016.