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Genuine Parts Company(GPC-N)
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Genuine Parts (GPC) To Report Earnings Tomorrow: Here Is What To Expect

StockStory - Wed Oct 18, 2023

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Auto and industrial parts retailer Genuine Parts (NYSE:GPC) will be reporting results tomorrow morning. Here's what to expect.

Last quarter Genuine Parts reported revenues of $5.92 billion, up 5.58% year on year, missing analyst expectations by 0.74%. It was a weak quarter for the company, with a miss of analysts' gross margin estimates and a miss of revenue estimates.

Is Genuine Parts buy or sell heading into the earnings? Read our full analysis here, it's free.

This quarter analysts are expecting Genuine Parts's revenue to grow 4.19% year on year to $5.91 billion, slowing down from the 17.8% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.42 per share.

Genuine Parts Total Revenue

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 only missed Wall St's revenue estimates once over the last two years, and has on average exceeded top line expectations by 3.21%.

There has been positive sentiment among investors in the automotive and marine retail segment, with the stocks up on average 2.17% over the last month. Genuine Parts is up 1.12% during the same time, and is heading into the earnings with with analyst price target of $171.6, compared to share price of $150.21.

One way to find opportunities in the market is to watch for generational shifts in the economy. Almost every company is slowly finding itself becoming a technology company and facing cybersecurity risks and as a result, the demand for cloud-native cybersecurity is skyrocketing. This company is leading a massive technological shift in the industry and with revenue growth of 70% year on year and best-in-class SaaS metrics it should definitely be on your radar.

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The author has no position in any of the stocks mentioned.

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