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Genuine Parts (GPC) to Report Q4 Earnings: What to Expect
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Genuine Parts Company (GPC - Free Report) is slated to release fourth-quarter 2022 results on Feb 23, before market open. The Zacks Consensus Estimate for the to-be-reported quarter’s earnings per share and revenues is pegged at $1.90 and $5.35 billion, respectively.
For the fourth quarter, the consensus estimate for Genuine Parts’ earnings per share has increased 3 cents in the past 30 days. Its bottom-line estimates imply growth of 6.15% from the year-ago reported number. The Zacks Consensus Estimate for its quarterly revenues suggests a year-over-year increase of 11.35%. Over the trailing four quarters, Genuine Parts surpassed earnings estimates on all four occasions, the average surprise being 9.84%. This is depicted in the graph below:
In third-quarter 2022, GPC’s adjusted earnings per share of $2.23 surpassed the consensus mark of $2.03 and rose 18.6% year over year. Higher-than-expected sales and operating profits across both its segments resulted in this outperformance. The company reported net sales of $5,675 million, outpacing the Zacks Consensus Estimate of $5,392 million. The top line rose 17.8% year over year.
Earnings Whispers
Our proven model conclusively predicts an earnings beat for the automotive replacement parts supplier for the yet-to-be reported quarter, as it has the right combination of the two key ingredients. A positive Earnings ESP combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: GPC has an Earnings ESP of +6.29%. This is because the Most Accurate Estimate is pegged 12 cents higher than the Zacks Consensus Estimate.
The ongoing microchip deficit has caused an automobile part shortage that has affected new and used-vehicle production. The supply bottleneck led consumers to continue using their existing vehicles, which is expected to have promoted the need for repairs, thereby driving the business of auto replacement and repair companies. Genuine Parts’ quarterly performance is anticipated to have gained from robust demand for its products.
Encouragingly, the Zacks Consensus Estimate for fourth-quarter revenues from the Automotive segment is pegged at $3,281 million, indicating a rise from $3,190 million recorded in the previous-year quarter. The estimate for operating profit in the segment, pegged at $274 million, suggests a rise from $266 million recorded in the year-ago quarter.
The Zacks Consensus Estimate for fourth-quarter revenues from the Industrial segment is pegged at $1,997 million, indicating a rise from $1,613 million recorded in the previous-year quarter. Also, the ongoing integration of Kaman Distribution Group is anticipated to have added to top-line growth of the firm in the quarter-to-be-reported. In the third quarter, the Kaman Distribution Group buyout contributed 16.6% to sales growth to aid revenues in the quarter. The estimate for operating profit in the segment is pegged at $194 million, suggesting an increase from $154 million reported in the corresponding quarter of 2021.
Other Stocks With Favorable Combinations
Let’s take a look at some other players from the auto space that, according to our model, also have the right combination of elements to post an earnings beat for the quarter to be reported:
The Shyft Group (SHYF - Free Report) will release fourth-quarter 2022 results on Feb 23. The company has an Earnings ESP of +2.98% and a Zacks Rank #3.
The Zacks Consensus Estimate for Shyft Group’s to-be-reported quarter’s earnings and revenues is pegged at 45 cents per share and $314.6 million, respectively. SHYF surpassed earnings estimates in all the trailing four quarters, the average surprise being 16.11%.
Vroom (VRM - Free Report) will release fourth-quarter 2022 results on Feb 28. The company has an Earnings ESP of +7.50% and a Zacks Rank #3.
The Zacks Consensus Estimate for Vroom’s to-be-reported quarter’s loss and revenues is pegged at 60 cents per share and $256.73 million, respectively. VRM surpassed earnings estimates in two of the trailing four quarters and missed in the rest, the average surprise being 1.43%.
CarGurus (CARG - Free Report) will release fourth-quarter 2022 results on Feb 28. The company has an Earnings ESP of +58.49% and a Zacks Rank #3.
The Zacks Consensus Estimate for CarGurus’ to-be-reported quarter’s earnings and revenues is pegged at 9 cents per share and $279.28 million, respectively. CARG surpassed earnings estimates in three of the trailing four quarters and missed on the other, the average surprise being 10.56%.
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Genuine Parts (GPC) to Report Q4 Earnings: What to Expect
Genuine Parts Company (GPC - Free Report) is slated to release fourth-quarter 2022 results on Feb 23, before market open. The Zacks Consensus Estimate for the to-be-reported quarter’s earnings per share and revenues is pegged at $1.90 and $5.35 billion, respectively.
For the fourth quarter, the consensus estimate for Genuine Parts’ earnings per share has increased 3 cents in the past 30 days. Its bottom-line estimates imply growth of 6.15% from the year-ago reported number. The Zacks Consensus Estimate for its quarterly revenues suggests a year-over-year increase of 11.35%. Over the trailing four quarters, Genuine Parts surpassed earnings estimates on all four occasions, the average surprise being 9.84%. This is depicted in the graph below:
Genuine Parts Company Price and EPS Surprise
Genuine Parts Company price-eps-surprise | Genuine Parts Company Quote
Q3 Highlights
In third-quarter 2022, GPC’s adjusted earnings per share of $2.23 surpassed the consensus mark of $2.03 and rose 18.6% year over year. Higher-than-expected sales and operating profits across both its segments resulted in this outperformance. The company reported net sales of $5,675 million, outpacing the Zacks Consensus Estimate of $5,392 million. The top line rose 17.8% year over year.
Earnings Whispers
Our proven model conclusively predicts an earnings beat for the automotive replacement parts supplier for the yet-to-be reported quarter, as it has the right combination of the two key ingredients. A positive Earnings ESP combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: GPC has an Earnings ESP of +6.29%. This is because the Most Accurate Estimate is pegged 12 cents higher than the Zacks Consensus Estimate.
Zacks Rank: It currently carries a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Factors at Play
The ongoing microchip deficit has caused an automobile part shortage that has affected new and used-vehicle production. The supply bottleneck led consumers to continue using their existing vehicles, which is expected to have promoted the need for repairs, thereby driving the business of auto replacement and repair companies. Genuine Parts’ quarterly performance is anticipated to have gained from robust demand for its products.
Encouragingly, the Zacks Consensus Estimate for fourth-quarter revenues from the Automotive segment is pegged at $3,281 million, indicating a rise from $3,190 million recorded in the previous-year quarter. The estimate for operating profit in the segment, pegged at $274 million, suggests a rise from $266 million recorded in the year-ago quarter.
The Zacks Consensus Estimate for fourth-quarter revenues from the Industrial segment is pegged at $1,997 million, indicating a rise from $1,613 million recorded in the previous-year quarter. Also, the ongoing integration of Kaman Distribution Group is anticipated to have added to top-line growth of the firm in the quarter-to-be-reported. In the third quarter, the Kaman Distribution Group buyout contributed 16.6% to sales growth to aid revenues in the quarter. The estimate for operating profit in the segment is pegged at $194 million, suggesting an increase from $154 million reported in the corresponding quarter of 2021.
Other Stocks With Favorable Combinations
Let’s take a look at some other players from the auto space that, according to our model, also have the right combination of elements to post an earnings beat for the quarter to be reported:
The Shyft Group (SHYF - Free Report) will release fourth-quarter 2022 results on Feb 23. The company has an Earnings ESP of +2.98% and a Zacks Rank #3.
The Zacks Consensus Estimate for Shyft Group’s to-be-reported quarter’s earnings and revenues is pegged at 45 cents per share and $314.6 million, respectively. SHYF surpassed earnings estimates in all the trailing four quarters, the average surprise being 16.11%.
Vroom (VRM - Free Report) will release fourth-quarter 2022 results on Feb 28. The company has an Earnings ESP of +7.50% and a Zacks Rank #3.
The Zacks Consensus Estimate for Vroom’s to-be-reported quarter’s loss and revenues is pegged at 60 cents per share and $256.73 million, respectively. VRM surpassed earnings estimates in two of the trailing four quarters and missed in the rest, the average surprise being 1.43%.
CarGurus (CARG - Free Report) will release fourth-quarter 2022 results on Feb 28. The company has an Earnings ESP of +58.49% and a Zacks Rank #3.
The Zacks Consensus Estimate for CarGurus’ to-be-reported quarter’s earnings and revenues is pegged at 9 cents per share and $279.28 million, respectively. CARG surpassed earnings estimates in three of the trailing four quarters and missed on the other, the average surprise being 10.56%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.