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.
Get a deeper insight into the potential performance of Genuine Parts (GPC) for the quarter ended September 2024 by going beyond Wall Street's top -and-bottom-line estimates and examining the estimates for some of its key metrics.
While both of these stocks are trailing the S&P 500, both offer a potential rebound and stable dividend.
This company recently missed earnings expectations and is seeing estimates being revised lower.
Genuine Parts has hiked its dividend each year since the Eisenhower administration. The company's growth prospects appear to be intact for the foreseeable future. Genuine Parts enjoys a BBB credit rating from S&P on a stable outlook.
Genuine Parts Company faced headwinds due to weak consumer demand and high interest rates in the U.S. as well as softness in Europe. Despite solid performance over the past 10 months, GPC's stock lags behind S&P, up 12.11% in comparison to 29.85% for the S&P. Despite their elevated payout ratio above their 10-year average, I continue to rate GPC a buy due to anticipated lower interest rates and upside potential.
While the top- and bottom-line numbers for Genuine Parts (GPC) give a sense of how the business performed in the quarter ended June 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Genuine Parts (GPC) reports lower-than-expected second-quarter results and expects overall sales growth for 2024 in the range of 1-3%, down from the previous estimated range of 3-5%.
Genuine Parts Company (NYSE:GPC ) Q2 2024 Earnings Call Transcript July 23, 2024 8:30 AM ET Company Participants Tim Walsh - Senior Director, IR Will Stengel - President and CEO Bert Nappier - EVP and CFO Conference Call Participants Bret Jordan - Jefferies Scot Ciccarelli - Truist Kate McShane - Goldman Sachs Christian Carlino - JPMorgan Greg Melich - Evercore ISI Henry Carr - UBS Securities Seth Basham - Wedbush Carolina Jolly - Gabelli Operator Good day, ladies and gentlemen. Welcome to the Genuine Parts Company Second Quarter 2024 Earnings Conference Call.
Genuine Parts (GPC) came out with quarterly earnings of $2.44 per share, missing the Zacks Consensus Estimate of $2.59 per share. This compares to earnings of $2.44 per share a year ago.
Genuine Parts (GPC) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.