Auto parts retailer O'Reilly lifts annual profit forecast on sustained replacement parts demand

July 29 (Reuters) - O'Reilly Automotive ORLY.O lifted its annual profit forecast on Wednesday, banking on sustained demand for replacement parts as customers maintain their aging vehicles.

The aftermarket auto-parts industry has benefited from an aging U.S. vehicle fleet, with consumers opting to spend on repairs and maintenance rather than replace vehicles amid elevated borrowing costs and vehicle prices.

• The company forecast profit for 2026 in the range of $3.20 to $3.30 per share, from an earlier estimate of $3.15 to $3.25 per share.
• The midpoint of the range is just shy of analysts' estimate of a $3.26 per-share profit, according to data compiled by LSEG.
• O'Reilly reported earnings of 86 cents per share for the second quarter, up from 78 cents a year before and in line with analysts' expectations.
• Quarterly revenue rose 8% to $4.89 billion, topping analysts' forecast of $4.86 billion.
• Shares of the company were down about 3% in extended trading.