Genuine Parts lifts profit forecast as US prospects brighten [Reuters]
Genuine Parts Company (GPC)
Last genuine parts company earnings: 2/19 08:40 am
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US:NYSE Investor Relations:
genuineparts.investorroom.com
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Source: Reuters
, opens new tab raised its 2024 profit forecast on Thursday, hinging on strong demand for parts and improving automotive sales in the United States. Higher prices and short supply of newer models have continued to drive demand for used vehicles and replacement parts as consumers try to make their existing vehicles last longer. In the past months, the company has been implementing pricing initiatives and strategic sourcing programs to perk up slowing sales in its U.S. automotive segment that was hurt by high costs and other inflationary pressures. "In Automotive, the actions taken in our U.S. Automotive business are gaining traction, and we are encouraged by the sequential improvement in performance," said President and Chief Operating Officer Will Stengel. The Atlanta-based company expects to report adjusted earnings of between $9.80 and $9.95 per share for 2024, up from a prior guidance of $9.70 to $9.90 per share. It reaffirmed its sales growth forecast of 3% to 5% for th
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GPC
News
- Genuine Parts Company Announces Acquisition of Largest NAPA Independent Store Owner in the U.S. [Yahoo! Finance]Yahoo! Finance
- Genuine Parts Company Announces Acquisition of Largest NAPA Independent Store Owner in the U.S.PR Newswire
- Genuine Parts Company Announces Changes to the Board and Declares Regular Quarterly DividendPR Newswire
- Genuine Parts Company Announces CEO Leadership Transition [Yahoo! Finance]Yahoo! Finance
- Genuine Parts Company Announces CEO Leadership TransitionPR Newswire
GPC
Earnings
- 4/18/24 - Beat
GPC
Sec Filings
- 5/1/24 - Form 8-K
- 4/30/24 - Form 8-K
- 4/29/24 - Form 8-K
- GPC's page on the SEC website