Why Genuine Parts Stock Jumped Today [Yahoo! Finance]
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: Yahoo! Finance
The company reported financial results for the first quarter of 2024 and raised its full-year profit guidance, which is why Genuine Parts stock was up 12% as of 11 a.m. ET. Investor confidence is on the rise In Q1, Genuine Parts' sales increased by less than 1% to $5.8 billion and its earnings per share (EPS) plunged by 17% to $1.78. Some investors might be surprised that these numbers were met with such enthusiasm today. But there's a good explanation. With a company as mature as Genuine Parts, nobody expects torrid top-line growth. But investors do monitor profits and the company delivered higher profits than expected in Q1. Because of this, management raised full-year profit guidance. For 2024, Genuine Parts had expected EPS of $8.95 to $9.15. Now it expects EPS of $9.05 to $9.20. This small boost in profit guidance boosted investor confidence. For context, Genuine Parts stock had been trading near a multiyear low valuation because investors were worried. This incredible
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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