Genuine Parts Lifts 2021 Outlook

Genuine Parts Co. (GPC) raised 2021 outlook for revenue growth and earnings per share.

The company increased its annual earnings per share guidance to a range of $5.85 - $6.05 from the prior outlook of $5.55 - $5.75. Analysts polled by Thomson Reuters expect the company to report earnings of $5.72 per share for fiscal year 2021. Analysts' estimates typically exclude special items.

The company now expects annual total sales growth to be in the range of 5% to 7% compared to the prior outlook of 4% to 6% growth.

In Thursday pre-market trade, GPC was trading at $123.66 up $2.42 or 2.00 percent.

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