O’Reilly Automotive cuts FY24 EPS view to $40.75-$41.25 from $41.35-$41.85

Consensus $41.86. Narrows FY24 revenue view to $16.6B-$16.9B from $16.8B-$17.1B, consensus $16.88B. Cuts FY24 comparable store sales view to up 2%-4% from up 3%-5%. backs FY24 capital expenditures view $900M-$1B. The company said, “As previously announced, the Company completed the acquisition of Groupe Del Vasto in Canada (“Vast Auto”) in January of 2024, and the results of Vast Auto’s operations have been included in the Company’s consolidated financial statements since the acquisition date. The above updated consolidated guidance for selected full-year 2024 financial data includes expected impacts from Vast Auto’s operations, including an updated estimate of 30 basis points of dilution to gross profit as a percentage of sales but an unchanged estimate of 15 basis points of dilution to operating income as a percentage of sales for the full-year 2024.”