Genuine Parts Q2 Adj EPS $2.44 Beats $2.34 Estimate, Sales $5.92B Miss $5.96B Estimate
Portfolio Pulse from Benzinga Newsdesk
Genuine Parts (NYSE:GPC) reported Q2 adjusted earnings of $2.44 per share, beating the analyst consensus estimate of $2.34 by 4.27%. This is a 10.91% increase from the same period last year. However, the company's quarterly sales of $5.92 billion missed the analyst consensus estimate of $5.96 billion by 0.76%, though it's a 5.59% increase from last year.
July 20, 2023 | 10:58 am
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NEUTRAL IMPACT
Genuine Parts reported better than expected Q2 earnings but missed on sales. This mixed result could lead to volatility in the short term.
Genuine Parts reported a beat on earnings, which is positive for the stock. However, the miss on sales could be a concern for investors, potentially leading to short-term volatility in the stock price.
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