Genuine Parts: Q2 Earnings Snapshot
Posted Jul 22, 2021 08:39:24 AM.
Last Updated Jul 22, 2021 08:41:08 AM.
ATLANTA (AP) _ Genuine Parts Co. (GPC) on Thursday reported second-quarter net income of $196.5 million, after reporting a loss in the same period a year earlier.
The Atlanta-based company said it had net income of $1.36 per share. Earnings, adjusted for one-time gains and costs, were $1.74 per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.58 per share.
The auto and industrial parts distributor posted revenue of $4.78 billion in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $4.39 billion.
Genuine Parts expects full-year earnings in the range of $6.20 to $6.35 per share.
Genuine Parts shares have climbed 29% since the beginning of the year, while the S&P’s 500 index has increased 16%. The stock has risen 47% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GPC at https://www.zacks.com/ap/GPC
The Associated Press
