Movement Alert｜Genuine Parts Falls 7.83% in Pre-Market Trading, Profit Outlook Cut After Q3 Results

Market Focus10-20 21:00

On October 20, Genuine Parts fell 7.83% in Pre-Market Trading, trading at $119.61 per share, with turnover of $0.11 million.

The move followed third-quarter results that modestly beat expectations, but investors focused on a lowered full-year adjusted EPS outlook.

Genuine Parts reported Q3 adjusted EPS of $2.07, up from $1.98 a year earlier and above consensus near $2.04 to $2.05. Net sales rose to $6.52 billion from $6.26 billion a year earlier, roughly in line with estimates. For the full year, the company narrowed adjusted EPS guidance to $7.50 to $7.75 from $7.50 to $8.00 previously, while maintaining expected sales growth of 3% to 5.5%. The updated earnings range placed the top end below the prior outlook and near consensus, helping explain the negative share reaction despite the quarterly beat.

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