Genuine Parts Company FY24 Outlook: Adj. EPS $9.70-$9.90 Vs. $9.84 Estimate, Revenue Growth 3%-5%
Portfolio Pulse from Benzinga Newsdesk
Genuine Parts Company (GPC) has provided its FY24 outlook, projecting adjusted EPS of $9.70-$9.90, slightly above the $9.84 estimate. Revenue is expected to grow by 3%-5%, with automotive sales growth at 2%-4% and industrial sales growth at 3%-5%. The company anticipates diluted EPS of $8.95-$9.15, an effective tax rate of approximately 24%, net cash from operating activities between $1.3 billion and $1.5 billion, and free cash flow of $800 million to $1 billion.
February 15, 2024 | 11:57 am
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POSITIVE IMPACT
Genuine Parts Company projects a positive FY24 with adjusted EPS of $9.70-$9.90, surpassing estimates, and revenue growth of 3%-5%. Automotive and industrial sales are expected to contribute significantly to this growth.
The positive outlook provided by GPC, especially the adjusted EPS surpassing the estimate, indicates strong company performance and operational efficiency. This is likely to instill investor confidence and could lead to a short-term increase in stock price. The detailed projections across various segments further reinforce the company's growth trajectory and operational strengths.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100