logo
  Join        Login             Stock Quote

Genuine Parts (GPC) Shares Fall After Q4 Revenue Miss

 February 19, 2013 10:18 AM
 


(By Balaseshan) Genuine Parts Co. (NYSE: GPC), a distributor of automotive replacement parts, reported 19 percent growth in fourth-quarter earnings helped by strong sales across its three business segments. Despite revenue missing consensus, earnings beat Street's expectations.

Earnings for the fourth quarter were $160.23 million, or $1.03 per share, up from $134.96 million, or $0.86 per share, last year. The company recorded a one-time non cash curtailment gain of $23.5 million in the quarter.

Sales increased 3.5 percent to $3.12 billion, driven by respectable sales growth in three of its four businesses. The company said revenue growth proved to be more challenging as the year progressed, and is reflective of slowing industry trends across its businesses.

[Related -Motorcar Parts of America, Inc. (MPAA): This Underrated Play In Auto Parts Offers 50% Upside]

Analysts, on average, polled by Thomson Reuters expected a profit of $0.93 per share on revenue of $3.19 billion for the fourth quarter.

Automotive sales increased 4.9 percent, while industrial sales rose 2.1 percent. Office products sales gained 2.9 percent, while electrical/electronic materials sales declined 1.6 percent.

In a separate release, the company announced a 9% increase in the regular cash dividend to an annual rate of $2.15 per share compared with the previous dividend of $1.98 per share. The quarterly cash dividend of $0.5375 per share is payable April 1 to shareholders of record March 8.

[Related -6 Dividend Growth Stocks With Very Little Debt]

GPC is trading down 2.17 percent at $69.89 on Tuesday. The stock has been trading between $55.58 and $71.44 for the past 52 weeks.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageChipotle Mexican Grill, Inc. (CMG) Q2 Earnings Preview: Will Higher Traffic Offset Higher Costs the Key

Chipotle Mexican Grill, Inc. (NYSE:CMG) will host a conference call to discuss second quarter 2014 read on...

article imageNetflix, Inc. (NFLX) Q2 Earnings Preview: The Ruby Month for a Reason

Netflix, Inc. (NASDAQ:NFLX) will post its second-quarter 2014 financial results and business outlook on its read on...

article imageLadenburg Thalmann Financial Services (NYSEMKT:LTS): Heavy, Durable Insider Buying

Ahh, but any worries over price levels didn’t stop multiple insiders at Ladenburg Thalmann Financial read on...

article imageInternational Business Machines Corp. (IBM) Q2 Earnings Preview: Small Beat and Pop

International Business Machines Corp. (NYSE:IBM) will host a conference call Wednesday, Jul. 16, 2014 at read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.