secwatch.observer — SEC 8-K summary
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Issuer:     GENUINE PARTS CO (GPC)
CIK:        0000040987
Form:       8-K
Filed at:   2024-10-22T23:59:59+00:00
Accession:  0000040987-24-000205
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Genuine Parts Q3 EPS misses; cuts FY2024 adjusted EPS outlook to $8.00-$8.20 from $9.30-$9.50
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- Q3 sales $6.0B (+2.5% YoY); GAAP diluted EPS $1.62, adjusted diluted EPS $1.88 (vs $2.49 prior year).
- Automotive segment profit down 18.6% to $262M; Industrial segment profit down 8.5% to $259M.
- Full-year adjusted diluted EPS guidance cut to $8.00-$8.20 from $9.30-$9.50; total sales growth lowered to 1%-2%.
- Management cites continued weakness in Europe and Industrial market conditions.
- Nine-month free cash flow $711M; dividends and buybacks total $523M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/40987/000004098724000205/0000040987-24-000205-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/40987/000004098724000205/gpc-20241022.htm
  HTML page:      https://secwatch.observer/filing/0000040987-24-000205

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