Genuine Parts Q2 2020 Earnings Report
Key Takeaways
Genuine Parts Company reported a decrease in sales of 14.2% to $3.8 billion, impacted by the COVID-19 pandemic. Diluted net loss per share was $2.52, while diluted adjusted EPS was $1.32. The company strengthened its balance sheet and enhanced liquidity through strong cash flows and the sale of S.P. Richards' U.S. operations.
Sales decreased by 14.2% to $3.8 billion, with a 13.7% decline in comparable sales.
Diluted net loss per share was $2.52, primarily due to a non-cash goodwill impairment charge.
Adjusted EPS from continuing operations was $1.32, a decrease of 10.2% compared to the previous year.
The company completed the sale of S.P. Richards’ U.S. operations and The Safety Zone and Impact Products operations to optimize its portfolio.
Genuine Parts
Genuine Parts
Genuine Parts Revenue by Segment
Forward Guidance
The Company withdrew its full-year 2020 guidance due to the economic uncertainty relating to the rapidly evolving COVID-19 pandemic and the limited visibility on the impacts to our businesses. We will not be providing annual guidance updates until macro-economic conditions stabilize.
Revenue & Expenses
Visualization of income flow from segment revenue to net income