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Stock Market & Financial Investment News

News Breaks
November 19, 2012
12:47 EDTGPCGenuine Parts CFO Jerry Nix to retire effective March 1, 2013
Genuine Parts announced that Jerry Nix has informed the Board of Directors of his plan to retire as CFO of the company, effective March 1, 2013. The company also announced that its Board has elected Carol B. Yancey to the position of Executive Vice President of Finance and Corporate Secretary. Yancey will assume the role of CFO upon Nix's retirement. Yancey has been with the company for nearly 22 years and was previously Senior Vice President of Finance and Corporate Secretary of Genuine Parts Company.
News For GPC From The Last 14 Days
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October 20, 2014
11:32 EDTGPCGenuine Parts narrows FY14 EPS view to $4.56-$4.60 from $4.54-$4.60
Consensus is $4.60. Now sees FY14 total company revenue growth 8%, up from previous 7%-8% view, consensus is $15.18B. Now sees FY14 automotive revenue growth closer to 8% from 7%-8% view. Sees Q4 margins approaching 30% range, says has gradual expectation of margin expansion in 2015. Says focused on operating margin expansion. Sees interest expense $24M-$25M for FY. Sees FY tax rate in the 36% range. Says "comfortable" with cash position at September 30. Sees FY cash from operations $900M. Sees FY free cash flow $425M-$450M. Says first priority for cash is dividend; says will also use cash to repay debt, acquisitions, repurchases. Says will look to maintain dividend payout ratio ahead. Sees CapEx picking up further over balance of year. Says targeting bolt-on acquisitions in the $25M-$125M revenue range. Says expects to remain active in share buybacks. Comments made on the Q3 earnings conference call.
08:55 EDTGPCGenuine Parts reports Q3 EPS $1.24, consensus $1.24
Reports Q3 revenue $3.99B, consensus $3.93B.
October 17, 2014
14:19 EDTGPCGenuine Parts technical comments ahead of results
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