Genuine Parts: 2Q Earnings Snapshot
Posted July 30, 2020 8:43 am.
Last Updated July 30, 2020 8:54 am.
This article is more than 5 years old.
ATLANTA (AP) _ Genuine Parts Co. (GPC) on Thursday reported a second-quarter loss of $564.4 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Atlanta-based company said it had a loss of $3.91. Earnings, adjusted for one-time gains and costs, came to $1.32 per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1 per share.
The auto and industrial parts distributor posted revenue of $3.82 billion in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $4.45 billion.
Genuine Parts shares have decreased 14% since the beginning of the year, while the Standard & Poor’s 500 index has risen almost 1%. The stock has fallen almost 7% 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
