Core Insights - Genuine Parts (GPC) reported quarterly earnings of $1.75 per share, exceeding the Zacks Consensus Estimate of $1.66 per share, but down from $2.22 per share a year ago, indicating a 21.1% year-over-year decline [1] - The company achieved revenues of $5.87 billion for the quarter, surpassing the Zacks Consensus Estimate by 0.77% and showing a slight increase from $5.78 billion year-over-year [2] - Genuine Parts has outperformed the S&P 500, with a year-to-date loss of about 4.2% compared to the S&P 500's decline of 12.3% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $2.10, with expected revenues of $6.07 billion, while the estimate for the current fiscal year is $7.89 on revenues of $24.08 billion [7] - The trend of estimate revisions for Genuine Parts has been unfavorable, resulting in a Zacks Rank 4 (Sell), indicating expected underperformance in the near future [6] Industry Context - The Automotive - Retail and Wholesale - Parts industry is currently ranked in the top 36% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]
Genuine Parts (GPC) Beats Q1 Earnings and Revenue Estimates