Genuine Parts (GPC) Tops Q1 EPS by 36c, Revenues Beat; Raises FY21 EPS Guidance Above Consensus
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Genuine Parts (NYSE: GPC) reported Q1 EPS of $1.50, $0.36 better than the analyst estimate of $1.14. Revenue for the quarter came in at $4.5 billion versus the consensus estimate of $4.3 billion.
- Sales of $4.5 billion, Up 9.1%
- Diluted EPS from Continuing Operations $1.50, Up 79%
- Strengthened Balance Sheet and Strong Cash Flow
- Raises 2021 Outlook for Revenue Growth and Diluted EPS
"We are pleased with the strong start to 2021 and the ongoing recovery in our Automotive and Industrial businesses. The GPC team remained focused on execution and demonstrated agility in delivering strong financial results. We also operated through the quarter with continued focus on the physical and mental well-being of our employees, as our 50,000 teammates are the core of our success," said Paul Donahue, Chairman and Chief Executive Officer of Genuine Parts Company.
Genuine Parts sees FY2021 EPS of $5.85-$6.05, versus the consensus of $5.72.
In consideration of several factors, the Company is updating its full-year 2021 guidance previously provided in its earnings release on February 17, 2021. The Company considered its recent business trends and financial results, current growth plans, strategic initiatives, global economic outlook and the continued uncertainty of COVID-19 and its potential impact on our results in its updated guidance. The Company will continue to update full-year guidance during 2021, as appropriate.
For earnings history and earnings-related data on Genuine Parts (GPC) click here.
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