Genuine Parts Q3 Earnings: Industrial Weakness And Europe Drag On Profit, Margins Shrink, Lowers Annual Outlook [Yahoo! Finance]
Genuine Parts Company (GPC)
Last genuine parts company earnings: 2/19 08:40 am
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genuineparts.investorroom.com
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Source: Yahoo! Finance
Adjusted EPS of $1.88 missed the analyst consensus of $2.42 The automotive and industrial replacement parts provider reported third-quarter sales growth of 2.5% year-on-year to $5.97 billion, marginally beating the analyst consensus estimate of $5.94 billion. The company attributed the sales growth to a 3.2% benefit from acquisitions, partially offset by a 0.8% decrease in comparable sales. Automotive Parts Group sales grew 4.8% Y/Y. This segment's profit margin contracted 200 basis points to 6.9%. Sales for the Industrial Parts Group declined 1.2%, and the segment's profit margin contracted 100 basis points to 11.9%. Gross profit increased 4.2% Y/Y to $2.2 billion. Selling, administrative and other expenses were $1.7 billion, an 11.0% rise Y/Y. Cash and equivalents totaled $1.08 billion as of September 30. Net cash generated from operating activities for the first nine months was $1.1 billion. CEO Will Stengel: "Our results were below our expectations, primarily driven
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GPC
Earnings
- 10/22/24 - Miss
GPC
Sec Filings
- 11/19/24 - Form 8-K
- 11/4/24 - Form 4/A
- 11/4/24 - Form 4
- GPC's page on the SEC website