Genuine Parts Company Lowers FY24 Outlook: Projects Adjusted Diluted Earnings Per Share Of $8.00-$8.20 Vs. $9.36 Est (Prior View: $9.30-$9.50); Expects Sales To Grow In The Band Of 1%-2% (Prior View: 1%-3%)
Portfolio Pulse from Nabaparna Bhattacharya
Genuine Parts Company has revised its FY24 outlook, lowering its projected adjusted diluted earnings per share to $8.00-$8.20 from the previous estimate of $9.30-$9.50. The company also adjusted its expected sales growth to 1%-2%, down from 1%-3%.
October 22, 2024 | 11:01 am
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Genuine Parts Company has lowered its FY24 earnings outlook, projecting adjusted diluted EPS of $8.00-$8.20, down from $9.30-$9.50. Sales growth expectations have also been reduced to 1%-2%.
The downward revision in earnings and sales growth projections indicates potential challenges for Genuine Parts Company, likely leading to a negative short-term impact on its stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100