Genuine Parts (GPC) Q2 Earnings Lag Estimates, Revenues Beat
Zacks Investment Research | Jul 20, 2017 03:54AM ET
Genuine Parts Company (NYSE:GPC) reported earnings of $1.29 per share in second-quarter 2017, higher than $1.28, recorded in the year-ago quarter. However, earnings per share missed the Zacks Consensus Estimate of $1.31.
The company recorded a net income of $190 million in the second quarter of 2017, down from $191.4 million in the prior-year quarter.
Revenues in the reported quarter rose 5% year over year and set a record of $4.1 billion. The figure surpassed the Zacks Consensus Estimate of $4.04 billion and the rise was due to growth in the company’s automotive, industrial, electrical and office operations businesses. Industrial and electrical segments were the best performers out of the four.
Operating profit increased to $349.3 million from $340.5 million in the second quarter of 2017, and selling, general and administrative expenses rose to $903.3 million from $829.5 million a year ago.
Genuine Parts Company Price, Consensus and EPS Surprise
Auto/Truck Replacement Parts industry over the last three months. During this period, the company’s share price has decreased 10.9%, while the industry has gained 6.5%.
Zacks Rank & Key Picks
Genuine Parts currently carries a Zacks Rank #3 (Hold).
Some better-ranked companies in the auto space are Westport Fuel Systems Inc. (NASDAQ:WPRT) , Cummins Inc. (NYSE:CMI) and Peugeot SA (OTC:PUGOY) , all stocks carrying a Zacks Rank #2 (Buy). You can see Zacks Investment Research
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