Margins again under pressure
GPC reported a $0.04 EPS miss, with margins once again weak, ~60bps below expectations. Sales actually exceeded estimates, growing +17.4% YoY, with acquisitions adding 14% of growth, but this was more than offset by the cost pressures. Industrials was again strong, with a +5% comp, while the autos comp was slightly more muted, up +1.5%, with weather likely a headwind at the end of the quarter. FY18 guidance was reaffirmed, but further margin pressure was the key disappointment.Genuine Parts is engaged in the distribution of automotive replacement parts, industrial parts, and business products. The company's reportable business segments are: Automotive, which distributes automotive parts and accessory items and provides inventory, cataloging, marketing, training and other programs to the automotive aftermarket; Industrial, which distributes industrial replacement parts and related supplies such as bearings, mechanical and electrical power transmission products, industrial automation, and hose, among others; and Business Products, which is engaged in the wholesale distribution of a line of office and other business-related products through a customer base of resellers.
Formed in 2003 by an established team from Cazenove, one of the most respected investment banks in the UK, Atlantic Equities conducts and publishes fundamental, bottom up research on mid and large cap US companies.
Atlantic provide order execution through a wide range of DMA products and algorithmic trading suites.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.