April 24 (Reuters) - Auto parts distributor O'Reilly

Automotive missed analysts' estimates for first-quarter

profit on Wednesday, hurt by increased costs, sending its shares

down more than 3% after the bell.

Investments in store expansion and securing higher quality

and technologically advanced products amid growing popularity of

electric vehicles has significantly driven up expenses for the

company.

Auto parts sellers were also hit by tough weather

conditions, hurting sales during the start of the year.

O'Reilly forecast its capital expenditure for 2024 to range

between $900 million and $1.0 billion and plans to open 190 to

200 stores in the year.

Its comparable sales rose 3.4% in the first quarter, versus

10.8% growth a year earlier.

The Springfield, Missouri-based company posted adjusted

profit of $9.20 per share, compared with analysts' average

estimate of $9.26 per share, according to LSEG data.

The company reported sales of $3.980 billion for the quarter

ended March 31, mostly in line with estimates.

It forecast 2024 adjusted profit per share to be between

$41.35 and $41.85, below analysts' estimate of $42.42 per share.