Yahoo Finance Genuine Parts (GPC) To Report Earnings Tomorrow: Here Is What To Expect
Auto and industrial parts retailer Genuine Parts (NYSE:GPC) will be announcing earnings results tomorrow before market open. Here's what you need to know.
Genuine Parts missed analysts' revenue expectations by 1% last quarter, reporting revenues of $5.78 billion, flat year on year. It was a slower quarter for the company, with a miss of analysts' earnings estimates.
Is Genuine Parts a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Genuine Parts's revenue to grow 2.1% year on year to $6.04 billion, slowing from the 5.6% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.59 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Genuine Parts has missed Wall Street's revenue estimates four times over the last two years.
Looking at Genuine Parts's peers in the automotive and marine retail segment, only CarMax has reported results so far. It met analysts' revenue estimates, posting year-on-year sales declines of 7.5%. The stock traded up 2.5% on the results.
Read our full analysis of CarMax's earnings results here.
Stocks, especially growth stocks where cash flows further in the future are more important to the story, had a good end of 2023. But the beginning of 2024 has seen more volatile stock performance thanks to mixed inflation data, and while some of the automotive and marine retail stocks have fared somewhat better, they have not been spared, with share prices down 2.4% on average over the last month. Genuine Parts is down 2.1% during the same time and is heading into earnings with an average analyst price target of $165.5 (compared to the current share price of $139.03).
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