Genuine Parts Prepares for Quarterly Earnings as Analysts Expect 3.7% Revenue Growth
Genuine Parts Company (NYSE:GPC) is scheduled to announce its quarterly earnings results on Tuesday before the market open. Wall Street analysts project the automotive and industrial replacement parts distributor will report a 3.7% year-over-year increase in revenue. That rate represents a slight slowdown from the 4.9% revenue growth achieved during the corresponding quarter last year. Over the past 30 days, consensus revenue estimates have remained largely unchanged.
The upcoming announcement comes after a strong performance in the previous quarter, when the company reported $6.54 billion in revenue to top Wall Street projections. Genuine Parts Company also beat earnings estimates and slightly raised its full-year guidance in that period. Sector sentiment has leaned positive, with automotive retail stocks rising an average of 4.3% over the past month. Genuine Parts Company shares have advanced 5.8% during the same timeframe, trading around $134.
Wall Street analysts maintain an average price target of $140.56 for Genuine Parts Company stock. Investors will closely observe whether the distributor can maintain its history of meeting or beating revenue forecasts, alongside results from industry peers.
Key points
- Genuine Parts Company will release its quarterly earnings report on Tuesday morning before market open.
- Analysts expect revenue to increase by 3.7% year over year, down from 4.9% growth in the prior-year quarter.
- In the previous quarter, the company delivered $6.54 billion in revenue and raised its full-year earnings guidance.
- Shares of Genuine Parts Company have climbed 5.8% over the last month to trade near $134.
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When will Genuine Parts Company report its quarterly earnings?
Genuine Parts Company will report its quarterly financial results on Tuesday morning before the stock market opens.
What are Wall Street analysts expecting for Genuine Parts Company revenue?
Wall Street analysts expect quarterly revenue growth of 3.7% year over year, compared to 4.9% growth in the same period last year.
What is the analyst price target for Genuine Parts Company stock?
Analysts have set an average price target of $140.56 for Genuine Parts Company shares, compared to its recent trading price near $134.