Genuine Parts Earnings: What To Look For From GPC

Auto and industrial parts retailer Genuine Parts (NYSE:GPC) will be reporting earnings this Tuesday before the bell. Here’s what you need to know.

Genuine Parts beat analysts’ revenue expectations last quarter, reporting revenues of $6.54 billion, up 6% year on year. It was a strong quarter for the company, with full-year EPS guidance slightly topping analysts’ expectations and a beat of analysts’ EPS estimates.

Is Genuine Parts a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, the market is expecting Genuine Parts’s revenue to grow 3.7% year on year, slowing from the 4.9% increase it recorded in the same quarter last year.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Genuine Parts rarely misses Wall Street’s revenue estimates.

Looking at Genuine Parts’s peers in the automotive and marine retail segment, some have already reported their Q3 results, giving us a hint as to what we can expect. AutoZone delivered year-on-year revenue growth of 5.6%, missing analysts’ expectations by 1.6%, and CarMax reported revenues up 19.5%, topping estimates by 13.4%. AutoZone traded up 1.4% following the results while CarMax was down 2.5%.

Read our full analysis of AutoZone’s results here and CarMax’s results here.

There has been positive sentiment among investors in the automotive and marine retail segment, with share prices up 4.3% on average over the last month. Genuine Parts is up 5.8% during the same time and is heading into earnings with an average analyst price target of $140.56 (compared to the current share price of $134.07).

ONE MORE THING: The $21 AI Application Stock Wall Street Forgot. While Wall Street obsesses over who’s building AI, one company is already using it to print money. And nobody’s paying attention.

AI chip stocks trade at ridiculous valuations. This company processes a trillion consumer signals monthly using AI and trades at a third of the price. The gap won’t last. The institutions will figure it out. You need to see this first. Read the FREE Report Before They Notice.