Genuine Parts Co

GPC: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$993.00	Lvhqj	Lrzrbvphy

Genuine Parts Earnings: U.S. Sales Underwhelming but Overall Profitability Solid; Shares Undervalued

David Swartz

Oct 19, 2023

Genuine Parts’ third-quarter sales were disappointing, as comparable automotive sales in the United States fell 2.9%, but margins held up well and guidance was little changed. We do not expect to make any material change to our $160 fair value estimate. We view the shares, down about 11% on the day of the report, as undervalued.

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