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ATLANTA - Genuine Parts Company (NYSE:GPC) reported third-quarter revenue that exceeded analyst expectations on Tuesday, while narrowly missing earnings estimates and updating its full-year guidance.
Shares of Genuine Parts edged up 0.39% in pre-market trading following the announcement.
The automotive and industrial parts provider posted adjusted earnings per share of $1.98, slightly below the analyst consensus of $2.01. Revenue came in at $6.26 billion, surpassing the $6.12 billion analysts had expected and representing a 4.9% increase compared to the same period last year.
"Our third quarter results were in line with our expectations and demonstrate the ongoing execution of our strategic initiatives," said Will Stengel, President and Chief Executive Officer. "We continue to proactively manage costs in an inflationary environment and remain focused on what we can control."
The company’s Automotive Parts Group saw sales rise 5.0% to $4.0 billion, driven by a 1.6% increase in comparable sales, a 2.3% benefit from acquisitions, and a 1.1% favorable impact from foreign currency. Meanwhile, Industrial Parts Group sales grew 4.6% to $2.3 billion.
Genuine Parts updated its full-year 2025 outlook, raising its total sales growth forecast to 3-4% from the previous 1-3%. However, it narrowed its adjusted EPS guidance to $7.50-$7.75 from $7.50-$8.00 previously.
"While we delivered third-quarter results in line with our expectations, the broader market backdrop did not improve," said Bert Nappier, Executive Vice President and Chief Financial Officer. "We are updating our 2025 outlook to reflect our year-to-date results, along with our expectations that current market conditions will remain consistent with what we experienced in the third quarter."
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