GPC Stock Recent News

Genuine Parts Company experienced a significant 20% drop in stock value, now trading at a valuation below 12.2x P/E normalized with a yield above 3.53%. Despite the drop, Genuine Parts Company remains a stable, nearly 100-year-old business with a BBB rating and a market cap over $15B, not facing bankruptcy. The decline was triggered by 3Q24 results, but the company's fundamentals in automotive and industrial replacement parts remain strong, suggesting potential upside.

Genuine Parts reported weaker Q3 results, leading to a sharp guidance cut. On a positive note, sales are normalizing, and there was an improvement in the gross margin. M&A upside, valuation discount, and growth in car fleets aging make GPC a Buy.

Although the revenue and EPS for Genuine Parts (GPC) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Shares of the auto parts chain fell on a disappointing earnings report.

GPC reports lower-than-expected third-quarter results and expects full-year overall sales growth in the range of 1-2%, down from the previous estimate of 1-3%.

Genuine Parts Co. (GPC) was the biggest decliner in the S&P 500 Tuesday after its third-quarter net income fell well short of estimates and it lowered its profit projections for the full fiscal year.

Genuine Parts Company (NYSE:GPC ) Q3 2024 Earnings Conference Call October 22, 2024 8:30 AM ET Company Participants Tim Walsh - Senior Director, Investor Relations Will Stengel - President and Chief Executive Officer Bert Nappier - Executive Vice President and Chief Financial Officer Conference Call Participants Kate McShane - Goldman Sachs Scot Ciccarelli - Truist Michael Lasser - UBS Chris Horvers - JPMorgan Greg Melich - Evercore Seth Basham - Wedbush Securities Bret Jordan - Jefferies Operator Good day, ladies and gentlemen. Welcome to the Genuine Parts Company Third Quarter 2024 Earnings Conference Call.

Genuine Parts (GPC) came out with quarterly earnings of $1.88 per share, missing the Zacks Consensus Estimate of $2.44 per share. This compares to earnings of $2.49 per share a year ago.

Shares of Genuine Parts Co. fell 10.1% in premarket trading after the auto-parts company reported lower-than-expected third-quarter earnings and lowered its outlook, citing weakness in market conditions.

Sales of $6.0 billion Diluted EPS of $1.62 Adjusted Diluted EPS of $1.88 Revises 2024 Outlook: Revenue Growth of 1% to 2% from 1% to 3% Adjusted Diluted EPS of $8.00 to $8.20 from $9.30 to $9.50 ATLANTA , Oct. 22, 2024 /PRNewswire/ -- Genuine Parts Company (NYSE: GPC), a leading global service provider of automotive and industrial replacement parts and value-added solutions, announced today its results for the third quarter ended September 30, 2024. "I would like to thank our global GPC teammates for their hard work in serving our customers during the third quarter," said Will Stengel, President and Chief Executive Officer.