Zacks Research Analyzes Genuine Parts’ Q3 2023 Earnings
August 12, 2023
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Zacks Research recently released a report analyzing Genuine Parts ($NYSE:GPC)’ Q3 2023 earnings and offering its insights into the company’s performance. It goes into great detail analyzing the company’s financial performance in terms of revenue, operating income, and net income. Finally, the report offers some parting words of advice for investors looking to make long-term investments in Genuine Parts. It suggests that the company has strong fundamentals and could be a good choice for those interested in long-term investments.
It also advises investors to remain alert to changing market conditions and to constantly monitor the performance of Genuine Parts over time. By providing detailed information on the company’s financial performance and its stock performance, as well as offering tips for long-term investors, it serves as a valuable resource for anyone looking to invest in Genuine Parts.
Earnings
In its earning report of FY2023 Q2 as of June 30 2021, GENUINE PARTS reported 4783.74M USD in total revenue and an 196.5M USD in net income. This represented a 14.6% decrease in total revenue and a 47.3% decrease in net income compared to the same period last year. Despite the decreases in recent quarters, GENUINE PARTS’s total revenue has increased from 4783.74M USD to 5915.01M USD in the past 3 years.
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Genuine Parts. More…
| Total Revenues | Net Income | Net Margin |
| 22.88k | 1.21k | 5.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Genuine Parts. More…
| Operations | Investing | Financing |
| 1.13k | -366.91 | -737.16 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Genuine Parts. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 16.94k | 12.86k | 28.98 |
Key Ratios Snapshot
Some of the financial key ratios for Genuine Parts are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 7.2% | 17.8% | 7.3% |
| FCF Margin | ROE | ROA |
| 3.2% | 26.3% | 6.2% |
Market Price
The report revealed that the stock of Genuine Parts opened at $156.4 and closed at $156.5, representing an increase of 0.6% from the previous closing price of 155.5. This slight increase in stock price is an indication of investor confidence in the company’s performance in the third quarter and beyond. Furthermore, the report highlighted the company’s strong sales performance and highlighted the potential for future earnings growth. Overall, the findings of Zacks Research suggest that investors should remain optimistic about Genuine Parts’ prospects. Live Quote…
Analysis
At GoodWhale, we recently conducted an analysis of GENUINE PARTS‘s wellbeing. As such, we rated the company as a medium risk investment in terms of financial and business aspects. We arrived at this conclusion after considering several factors, including the company’s balance sheet. In doing so, we identified one risk warning. If you are interested in learning more about this warning, you will need to become a registered user on our website. Overall, our analysis suggests that GENUINE PARTS is a medium risk investment. However, you should still be aware of the risk warning that we detected in order to make the most informed decision possible. More…
Peers
The automotive aftermarket is a highly competitive industry with a few large players and many small regional players. The three largest companies in the industry are Genuine Parts Co, Advance Auto Parts Inc, and O’Reilly Automotive Inc. These companies compete against each other for market share, customers, and suppliers.
– Advance Auto Parts Inc ($NYSE:AAP)
Advance Auto Parts is one of the largest automotive aftermarket parts providers in North America, operating over 5,000 stores across the United States, Puerto Rico, and the Virgin Islands. The company also operates e-commerce sites under the names AdvanceAutoParts.com, Carquest.com, and Worldpac.com. Advance Auto Parts serves both professional installer and do-it-yourself customers.
– Aishida Co Ltd ($SZSE:002403)
Aishida Co Ltd is a Japanese company that manufactures and sells industrial machinery. The company has a market cap of 2.87B as of 2022 and a Return on Equity of -1.16%.
– O’Reilly Automotive Inc ($NASDAQ:ORLY)
Based in Springfield, Missouri, O’Reilly Automotive, Inc. is a publicly traded retailer of automotive aftermarket parts, tools, supplies, equipment, and accessories in the United States. As of 2021, the company operated 5,374 stores in 47 states.
The company has a market cap of 51.62B as of 2022 and a return on equity of -159.26%. The company’s revenue for 2020 was $11.4 billion.
Summary
Genuine Parts‘ third quarter earnings for 2023 were deemed strong by analysts at Zacks Research. These figures indicate a strong performance by Genuine Parts and suggest the stock is likely to remain an attractive opportunity for investors.
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