Genuine Parts Boosts FY22 Outlook - Update

(RTTNews) - While reporting financial results for the first quarter on Thursday, Genuine Parts Co. (GPC) raised its earnings, adjusted earnings and total net sales growth guidance for the full-year 2022.

For fiscal 2022, the company now projects earnings in a range of $7.56 to $7.71 per share and adjusted earnings in a range of $7.70 to $7.85 per share on total sales growth of 10 to 12 percent.

Previously, the company expected earnings and adjusted earnings in the range of $7.45 to $7.60 per share on total sales growth of 9 to 11 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $7.59 per share on revenue growth of 10.2 percent to $20.88 billion for the year. Analysts' estimates typically exclude special items.