O’Reilly Automotive raises FY24 EPS view to $41.35-$41.85 from $41.05-$41.55

Consensus $42.40. Backs FY24 revenue view $16.8B-$17.1B, consensus $16.95B. Backs FY24 comparable sales view up 3%-5%. Backs FY24 capital expenditures view $900M-$1B. Backs FY24 free cash flow view $1.8B-$2.1B. Beckham concluded, “During the first quarter, we opened 37 stores across 20 U.S. states and Mexico and continue to be extremely pleased with the performance of our new stores. Additionally, we began operating 23 stores in Canada after closing on the acquisition of Vast Auto in January. With the talented and experienced Vast Auto team now officially a part of Team O’Reilly, we are very pleased with the early momentum we have generated in Canada. We remain excited about the future opportunities we have before us in the Canadian market and throughout North America and look forward to growing our market share in new and existing markets as the industry leader in excellent customer service.”