Genuine Parts, an auto parts distributor, has lowered its full-year profit forecast due to rising costs and a tougher consumer environment. The company cited geopolitical tensions in the Middle East as a factor in pushing up fuel prices and weighing on consumer spending.
Financial Details
The company lowered its 2026 profit forecast to a range of $5.90 to $6.40 per share, down from its earlier $6.10 to $6.60 per share projection. Despite this, Genuine Parts’ quarterly revenue rose 6% to $6.54 billion, beating analysts’ average estimate of $6.43 billion.
Genuine Parts North America Automotive business sales were up 3.8% at $2.5 billion, and International Automotive business sales rose 8.2% to $1.6 billion from a year ago. The company remains on track to complete its planned separation of automotive and industrial businesses in the first quarter of 2027.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
