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Genuine Parts (GPC) Q1 Earnings Miss, Revenues Top
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Genuine Parts Company (GPC - Free Report) , based in Atlanta, GA, distributes automotive and industrial replacement parts, office products and electrical/electronic materials in the U.S., Canada and Mexico.
Genuine Parts has undertaken various initiatives to boost sales and earnings, such as product-line expansion, penetration into new markets and cost-saving activities. However, high level of inventory is a challenge for the company. The high proportion of inventory in current assets can affect short-term liquidity of the company in periods of low sales.
Estimate Trend & Surprise History
The company has a mixed record of earnings surprises. It has surpassed the Zacks Consensus Estimate in two of the trailing four quarters and missed in two, leading to an average miss of around 0.39%. Thus investors are eagerly waiting for the quarterly reports of Genuine Parts.
We have highlighted some of the key stats from this earnings announcement below:
Earnings
Genuine Parts’ earnings were $1.29 per share in the second quarter of 2017, higher than $1.28 recorded in the year ago quarter. However, earnings per share missed the Zacks Consensus Estimate of $1.31.
Revenues
Genuine Parts reported revenues of $4.1 billion, up 5% year over year. Revenues surpassed the Zacks Consensus Estimate of $4.04 billion.
Key Stats/Developments to Note
For 2017, Genuine Parts continues to expect annual revenue to increase 3% to 4%. Earnings per share in 2017 are expected to be in the range of $4.75–$4.85, similar to the prior-quarter guidance.
Market Reaction
Genuine Parts' shares have declined roughly 0.06% till now. It would be interesting to see how the market reacts to the results during the trading session today.
Check back later for our full write up on Genuine Parts’ earnings report!
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Genuine Parts (GPC) Q1 Earnings Miss, Revenues Top
Genuine Parts Company (GPC - Free Report) , based in Atlanta, GA, distributes automotive and industrial replacement parts, office products and electrical/electronic materials in the U.S., Canada and Mexico.
Genuine Parts has undertaken various initiatives to boost sales and earnings, such as product-line expansion, penetration into new markets and cost-saving activities. However, high level of inventory is a challenge for the company. The high proportion of inventory in current assets can affect short-term liquidity of the company in periods of low sales.
Estimate Trend & Surprise History
The company has a mixed record of earnings surprises. It has surpassed the Zacks Consensus Estimate in two of the trailing four quarters and missed in two, leading to an average miss of around 0.39%. Thus investors are eagerly waiting for the quarterly reports of Genuine Parts.
Genuine Parts Company Price and EPS Surprise
Genuine Parts Company Price and EPS Surprise | Genuine Parts Company Quote
Zacks Rank
Genuine Parts currently has a Zacks Rank #3 (Hold), but that could change following its earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank stocks (Strong Buy) here.
We have highlighted some of the key stats from this earnings announcement below:
Earnings
Genuine Parts’ earnings were $1.29 per share in the second quarter of 2017, higher than $1.28 recorded in the year ago quarter. However, earnings per share missed the Zacks Consensus Estimate of $1.31.
Revenues
Genuine Parts reported revenues of $4.1 billion, up 5% year over year. Revenues surpassed the Zacks Consensus Estimate of $4.04 billion.
Key Stats/Developments to Note
For 2017, Genuine Parts continues to expect annual revenue to increase 3% to 4%. Earnings per share in 2017 are expected to be in the range of $4.75–$4.85, similar to the prior-quarter guidance.
Market Reaction
Genuine Parts' shares have declined roughly 0.06% till now. It would be interesting to see how the market reacts to the results during the trading session today.
Check back later for our full write up on Genuine Parts’ earnings report!
3 Top Picks to Ride the Hottest Tech Trend
Zacks just released a Special Report to guide you through a space that has already begun to transform our entire economy...
Last year, it was generating $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for those who make the right trades early. Download Report with 3 Top Tech Stocks >>