Genuine Parts Q3 Adj $1.88 Misses $2.42 Estimate, Sales $5.97B Beat $5.94B Estimate
Portfolio Pulse from Benzinga Newsdesk
Genuine Parts (NYSE:GPC) reported Q3 earnings of $1.88 per share, missing the $2.42 estimate, a 24.5% decrease from last year. However, sales of $5.97B beat the $5.94B estimate, marking a 2.5% increase from the previous year.
October 22, 2024 | 10:56 am
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Genuine Parts reported Q3 earnings of $1.88 per share, missing the $2.42 estimate, a 24.5% decrease from last year. Sales of $5.97B beat the $5.94B estimate, marking a 2.5% increase from the previous year.
The significant miss on earnings per share compared to estimates and the year-over-year decline is likely to negatively impact the stock price in the short term. However, the slight beat on sales estimates and year-over-year sales growth may provide some support.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100