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0.59%
0.7156
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Why is Genuine Parts Co (GPC) Stock down?
We've noticed a 20.97% decline in Genuine Parts Co (GPC) stock during the 2024-10-22 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
19 Oct, 2023:
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.
2.46%
0.11%
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