Genuine Parts Boosts FY23 Adj. EPS Outlook - Update

(RTTNews) - While reporting financial results for the third quarter on Thursday, Genuine Parts Co. (GPC) raised its adjusted earnings guidance for the full-year 2023, while reaffirming annual total net sales growth.

For fiscal 2023, the company now projects both earnings and adjusted earnings in a range of $9.20 to $9.30 per share on total sales growth of 4 to 6 percent.

Previously, the company expected both earnings and adjusted earnings in the range of $9.15 to $9.30 per share on total sales growth of 4 to 6 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $9.23 per share on revenue growth of 5.7 percent to $23.35 billion for the year. Analysts' estimates typically exclude special items.

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