20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine." A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Genuine Parts Co (NYSE:GPC) reported third-quarter (Q3) FY23 sales growth of 2.6% year-on-year to $5.82 billion, missing the analyst consensus estimate of $5.92 billion.
The company attributed the sales growth to an 0.5% increase in comparable sales and a 1.7% benefit from acquisitions.
Automotive Group sales grew 3.9% Y/Y. This segment's profit margin remained flat at 8.9%.
Sales for the Industrial Parts Group rose 0.6%, and the segment's profit margin expanded 180 basis points to 12.9%.
Adjusted EPS of $2.49 beat the analyst consensus of $2.40.
Gross profit increased 6.5% Y/Y to $2.1 billion. Selling, administrative and other expenses were $1.6 billion, an 6.4% rise Y/Y.
Cash and equivalents totaled $654.6 million as of Sept. 30. Net cash generated from operating activities for the nine months totaled $1.1 billion.
"Our third quarter performance was highlighted by double-digit earnings growth, driven by benefits from the mix and geographic diversity of our businesses as well continued progress on our strategic initiatives," said CEO Paul Donahue.
Outlook: Genuine Parts reaffirms FY23 revenue growth outlook of 4% - 6%.
It raised FY23 adjusted EPS outlook from $9.15 - $9.30 to $9.20 - $9.30 versus the consensus of $9.23.
The company expects FY23 free cash flow of $900 million - $1.0 billion and an operating cash flow of $1.3 billion - $1.4 billion.
Price Action: GPC shares closed 0.99% lower at $148.73 on Wednesday..
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine." A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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