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Jun 30, 2024
Genuine Parts Q2 2024 Earnings Report
Genuine Parts Company reported its second quarter results, reflecting softer than expected market conditions.
Key Takeaways
Genuine Parts Company reported a 0.8% increase in sales to $6.0 billion. Diluted EPS was $2.11, down 13.5%, while adjusted diluted EPS was $2.44, in-line with the prior year. The company revised its full-year outlook, expecting revenue growth of 1% to 3% and adjusted diluted EPS of $9.30 to $9.50.
Sales increased by 0.8% to $6.0 billion.
Diluted EPS decreased by 13.5% to $2.11.
Adjusted diluted EPS was $2.44, consistent with the prior year.
Full-year outlook revised with revenue growth projected at 1% to 3%.
Revenue by Segment
Forward Guidance
The company is revising full-year 2024 guidance previously provided in its earnings release on April 18, 2024.
Positive Outlook
- Net cash provided by operating activities $1.3 billion to $1.5 billion
- Free Cash Flow $800 million to $1.0 billion
- Effective tax rate Approximately 24%
- Automotive sales growth 1% to 3%
- Industrial sales growth 0% to 2%
Challenges Ahead
- Total sales growth 1% to 3% from 3% to 5%
- Diluted earnings per share $8.55 to $8.75 from $9.05 to $9.20
- Adjusted diluted earnings per share $9.30 to $9.50 from $9.80 to $9.95
- Comparable Sales Automotive(0.6)%
- Comparable Sales Industrial(1.6)%
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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