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Genuine Parts Co - Stock Quote GPC

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Morningstar's Genuine Parts Co Stock Analysis

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Genuine Parts’ Solid First Quarter Suggests the Strength of Its Competitive Advantages

Zain Akbari, CFA Equity Analyst

Analyst Note

| Zain Akbari, CFA |

We do not plan to alter our $133 per share valuation of narrow-moat Genuine Parts significantly after it announced first-quarter earnings that suggest it should meet our 2022 expectations. With the firm’s profitability remaining strong despite inflation (8.6% total segment profit margin, up roughly 50 basis points), we believe the quarter reinforces our view that the company’s automotive and industrial segments possess durable competitive advantages in markets where customers are more focused on service than price. 

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Genuine Parts Co's Company Profile

Business Description

Genuine Parts sells automotive parts (about two thirds of net sales) and industrial components. The company sells vehicle parts to commercial and retail customers through roughly 9,700 stores worldwide, most of which are independently owned. Its industrial unit, primarily operating under the Motion Industries banner in the United States, supplies bearings, power transmission, industrial automation, hydraulic, and pneumatic components to maintenance, repair, and OEM clients.

2999 Wildwood Parkway
Atlanta, GA, 30339
T +1 678 934-5000
Sector Consumer Cyclical
Industry Specialty Retail
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type Cyclical
Employees 52,000

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