BUZZ-Genuine Parts falls after downbeat annual profit forecast; co to spin off auto parts unit
Reuters
Feb 17
BUZZ-Genuine Parts falls after downbeat annual profit forecast; co to spin off auto parts unit
** Shares of automotive and industrial parts distributor Genuine Parts GPC.N down 7.2% at $136.61 premarket
** Co forecasts adjusted per-share profit in the range of $7.50 to $8.00, below estimates of $8.44 per share according to data compiled by LSEG
** GPC to separate itself into two independent cos - Automotive Parts Group and Industrial Parts Group
** Deal expected to close in Q1 2027
** Median PT of 13 brokerages covering the stock is $145 - data compiled by LSEG
** As of last close, stock up about 20% YTD
(Reporting by Anshuman Tripathy)
((Anshuman.Tripathy@thomsonreuters.com))
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