Earnings To Watch: Genuine Parts (GPC) Reports Q4 Results Tomorrow
Stock Story
Published Feb 14, 2024 02:02AM ET
Updated Feb 14, 2024 08:02AM ET
Earnings To Watch: Genuine Parts (GPC) Reports Q4 Results Tomorrow
Auto and industrial parts retailer Genuine Parts (NYSE:GPC) will be reporting results tomorrow before market hours. Here's what you need to know.
Last quarter Genuine Parts reported revenues of $5.82 billion, up 2.6% year on year, missing analyst expectations by 1.5%. It was a mixed quarter for the company, with a decent beat of analysts' gross margin estimates but a miss of analysts' revenue estimates.
Is Genuine Parts buy or sell heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts are expecting Genuine Parts's revenue to grow 2.6% year on year to $5.67 billion, slowing down from the 15% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.20 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates twice over the last two years.
Looking at Genuine Parts's peers in the automotive and marine retail segment, some of them have already reported Q4 earnings results, giving us a hint of what we can expect. Monro's revenues decreased 5.2% year on year, missing analyst estimates by 2.2% and O'Reilly (NASDAQ:ORLY) reported revenues up 5.1% year on year, missing analyst estimates by 0.8%. Monro traded flat on the results, and O'Reilly was down 4.9%.
Read the full analysis of Monro's and O'Reilly's results on StockStory.
There has been positive sentiment among investors in the automotive and marine retail segment, with the stocks up on average 2.4% over the last month. Genuine Parts is up 1.9% during the same time, and is heading into the earnings with analyst price target of $155.6, compared to share price of $142.4.
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Written By: Stock Story
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