Genuine Parts Co. (GPC)

Genuine Parts Company Stock (GPC) dropped by 12.51% from $148.73 to $130.12 in the trading on Thursday October 19, 2023. The reason why GPC stock down today is due to the missed Q3 earnings as its U.S. auto parts unit underperformed and same-store sales were little changed from a year ago. It seemed to weigh on the stock as did the broader market sell-off, causing GPC stock down today.

• Revenue was up 2.6% year-over-year to $5.82 B, while analysts were looking for $5.91 B.
• The growth in sales is attributable to a 0.5% increase in comparable sales, a 1.7% benefit from acquisitions and a 0.4% net favorable impact of foreign currency and other.
• Genuine Parts reiterated its full-year guidance, except for EPS, which it narrowed to $9.20 - $9.30 from $9.15 - $9.30.