Genuine Parts: Q4 Financial Results Overview
Genuine Parts Co. Reports Fourth Quarter Loss
Genuine Parts Co., headquartered in Atlanta, announced on Tuesday that it recorded a net loss of $609.5 million for the fourth quarter.
The company reported a quarterly loss of $4.39 per share. After accounting for non-recurring items, adjusted earnings stood at $1.55 per share.
These figures came in below analyst expectations. According to a survey by Zacks Investment Research involving five analysts, the consensus estimate was $1.79 per share.
During the quarter, the distributor of automotive and industrial parts generated $6.01 billion in revenue, which also did not meet projections. Analysts surveyed by Zacks had anticipated revenue of $6.04 billion.
For the full year, Genuine Parts Co. posted a profit of $65.9 million, or $0.47 per share, with total revenue reaching $24.3 billion.
Looking ahead, the company forecasts its annual earnings to fall between $7.50 and $8 per share.
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