Genuine Parts Company (GPC) reported just recently sales and earnings for the third quarter and 9 months ended September 30, 2019.
Total sales for the 3rd quarter included the contribution of 1.2% similar development and 6.7% from acquisitions, balanced out by a 1.0% unfavorable effect from foreign currency translation and 0.7% due primarily to the sale of Grupo Auto Todo in the very first quarter of 2019.
3rd quarter sales for the Automotive Parts Group were up 5.3%, including a 1.8% comparable sales increase, a 6.5% take advantage of acquisitions and an unfavorable foreign currency translation of 1.8%. In addition, automotive sales were influenced by 1.2% due primarily to the sale of Grupo Auto Todo. Sales for the Industrial Parts Group were up 9.9%, consisting of a 0.9% comparable sales boost and 9.0% from acquisitions. Sales for the Business Products Group were down 0.9%, consisting mainly of the modification in comparable sales growth.
Paul Donahue, Chairman and Chief Executive Officer, commented, “Our 3rd quarter results were highlighted by a number of accomplishments, including our accomplishing the $ 5B sales mark for the very first time in the history of the Company. In addition, we mored than happy to report positive equivalent sales in our U.S., Canadian and Australasian automotive companies as well as our Industrial operations, and we further improved our gross margin. This equated to operating margin growth in the Industrial and Business Products areas, an improved total margin performance and strong cash flows for the quarter.”
Mr. Donahue included, “Our team was likewise active executing on our method to additional optimize our portfolio. We closed on the Inenco industrial acquisition and the Sparesbox ecommerce financial investment on July 1st, and we divested of Motions Electrical Specialties Group on September 30th. We also made crucial development on our action plans to accelerate our continuous expense savings efforts and establish cost reduction initiatives created to better address our expense structure, drive significant savings and deliver incremental worth.”
According to the most current quarter its current ratio was 1.3 that represents businesss capability to fulfill its existing financial obligations. The price moved ahead of 5.01% from the mean of 20 days, 7.80% from mean of 50 days SMA and performed 0.70% from mean of 200 days price. Businesss performance for the week was 4.61%, 4.46% for month and YTD performance remained 5.55%.
Overall sales for the 3rd quarter included the contribution of 1.2% comparable growth and 6.7% from acquisitions, offset by a 1.0% unfavorable effect from foreign currency translation and 0.7% due mainly to the sale of Grupo Auto Todo in the first quarter of 2019. 3rd quarter sales for the Automotive Parts Group were up 5.3%, consisting of a 1.8% similar sales increase, a 6.5% benefit from acquisitions and an unfavorable foreign currency translation of 1.8%. Sales for the Industrial Parts Group were up 9.9%, including a 0.9% comparable sales increase and 9.0% from acquisitions.
GPC has a gross margin of 32.30% and an operating margin of 5.90% while its profit margin stayed 4.20% for the last 12 months.
Genuine Parts Company (NYSE: GPC) stock gained 2.45% and closed at 101.35. Its recent trading capacity is 922491 shares versus to its average trading volume of 685869 shares. Its revenues per share (EPS) expected to touch remained 21.80% for this year while earning per share for the next 5-years is expected to reach at 4.80%. GPC has a gross margin of 32.30% and an operating margin of 5.90% while its revenue margin stayed 4.20% for the last 12 months.
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