Latest news with #GPC
Yahoo
6 hours ago
- Business
- Yahoo
What You Need To Know Ahead of Genuine Parts' Earnings Release
Atlanta, Georgia-based Genuine Parts Company (GPC) is a leading global service provider of automotive and industrial replacement parts and value-added solutions. With a market cap of $16.7 billion, Genuine Parts operates over 10,700 locations spread across 17 countries and employs over 60,000 people. GPC is expected to release its second-quarter results on Tuesday, Jul. 22. Ahead of the event, analysts expect GPC to report a non-GAAP profit of $2.08 per share, down 14.8% from $2.44 per share reported in the year-ago quarter. While the company has missed Wall Street's earnings projections twice over the past four quarters, it has surpassed the estimates on two other occasions. Jeff Bezos Unloads $5.4B in Amazon Shares: Should You Buy or Sell AMZN Stock Now? Elon Musk's Tesla Makes History With 'First Time That a Car Has Delivered Itself to Its Owner' Options Flow Alert: Bulls Making Their Move in GOOGL Stock Our exclusive Barchart Brief newsletter is your FREE midday guide to what's moving stocks, sectors, and investor sentiment - delivered right when you need the info most. Subscribe today! For the full fiscal 2025, GPC is expected to deliver an adjusted EPS of $7.81, down 4.3% from $8.16 in fiscal 2024. While in fiscal 2026, its earnings are expected to increase by 11% year-over-year to $8.67 per share. GPC stock has gained 3.9% on a YTD basis, underperforming the S&P 500 Index's ($SPX) 5.5% gains, but outpacing the Consumer Discretionary Select Sector SPDR Fund's (XLY) 3.1% dip during the same time frame. Genuine Parts' stock prices gained 2.8% following the release of its mixed Q1 results on Apr. 22. While the company's organic revenues took a notable hit during the quarter, driven by the positive impact of acquisitions, the company's total revenues increased 1.4% year-over-year to $5.9 billion. Meanwhile, the company's adjusted net income plunged 21.8% year-over-year to $243.1 million, but its adjusted EPS of $1.75 surpassed the consensus estimates by 5.4%. The stock holds a consensus 'Moderate Buy' rating overall. Of the 11 analysts covering the GPC stock, opinions include five 'Strong Buys,' five 'Holds,' and one 'Strong Sell.' Its mean price target of $131.75 suggests an 8.6% upside potential from current price levels. On the date of publication, Aditya Sarawgi did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Sign in to access your portfolio
Zawya
16-06-2025
- Business
- Zawya
Egypt announces new oil discovery in Abu Sennan brownfield
Arab Finance: The General Petroleum Co. (GPC) has announced a new oil discovery, GPR-1X, in the Abu Sennan brownfield in Egypt's Western Desert, as per a statement by the Ministry of Petroleum and Mineral Resources. This discovery marks a key success under the first axis of the ministry's strategy to increase local production and optimize brownfields' potential. Initial results from the newly drilled well indicate production rates of up to 1,400 barrels of crude oil per day and approximately one million cubic feet of natural gas per day from the Bahariya formation. It is also expected to add around 2 million recoverable barrels to reserves. Chairman of GPC Mohamed Abdel Maguid stated that the well's production station is currently undergoing testing. He also pointed to encouraging indications of further petroleum potential in the Abu Rawash G and B formations, based on electrical log data. This is the second discovery in the Abu Sennan area within the past three months, following a March 2025 find by the company using artificial intelligence (AI) technology under GPC. The latest results reaffirm the untapped potential of the Western Desert and highlight the role of advanced technology in unlocking value from aging oil fields. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
16-06-2025
- Business
- Zawya
Egypt announces second oil discovery in 3 months at Abu Sannan, producing 1,400 bpd
Egypt - In line with the Ministry of Petroleum and Mineral Resources' strategy to boost domestic production and optimize output from mature fields, the General Petroleum Company (GPC) has announced a new oil discovery in the Abu Sannan area of Egypt's Western Desert. The well, designated GPR-1X, is located in the mature Abu Sannan fields and has demonstrated initial production rates of approximately 1,400 barrels of crude oil and 1 million cubic feet of gas per day from the Bahariya formation. The discovery also adds an estimated 2 million barrels of recoverable reserves. GPC Chairperson Mohamed Abdel Meguid confirmed that the well is currently undergoing production testing. He added that promising indicators were also identified in the Abu Roash G and B formations, based on electric log analysis. This marks the second oil discovery in Abu Sannan within three months. The previous discovery, announced in March, was enabled by artificial intelligence technologies developed in-house by GPC. The continued success in this mature basin highlights the Western Desert's ongoing potential and the transformative role of modern exploration technologies. © 2024 Daily News Egypt. Provided by SyndiGate Media Inc. (
Al-Ahram Weekly
15-06-2025
- Business
- Al-Ahram Weekly
GPC announces new oil discovery in Egypt's Western Desert - Society
The General Petroleum Company (GPC) has announced a new oil discovery—GPR-1X—in the Abu Sennan fields of Egypt's Western Desert, the Ministry of Petroleum and Mineral Resources said Sunday. Initial tests show the well produces up to 1,400 barrels of crude oil and around 1 million cubic feet of gas per day from the Behaira layer. The discovery adds an estimated two million barrels of recoverable reserves. GPC Chairman Mohamed Abdel Meguid said the well is undergoing production testing and has shown promising hydrocarbon indicators. The discovery is the second in Abu Sennan in three months and aligns with the ministry's push to raise domestic output and boost production from mature fields. GPC credited artificial intelligence tools for aiding the find, highlighting the remaining potential in the Western Desert. Energy strain prompts urgent measures The announcement comes amid growing pressure on Egypt's energy sector, as regional tensions and falling gas supplies strain electricity production. Prime Minister Mostafa Madbouly said Saturday that recent Israeli strikes on Iran have disrupted natural gas flows. This has prompted Egypt to fast-track the deployment of two liquefied natural gas (LNG) regasification vessels by early July. Together with an existing unit, they will provide 2.25 billion cubic feet of gas daily. Madbouly said the government is working to prevent summer power cuts, doubling fuel oil reserves to secure generation capacity. Egypt's domestic gas production has dropped to 4.1 billion cubic feet per day, while demand now exceeds 6 billion. The electricity sector alone consumes nearly 60 percent of that supply. At the same time, Israeli gas exports to Egypt have fallen by one billion cubic feet per day, leaving just 800 million cubic feet flowing during the summer. According to Reuters, Egypt may need to spend up to $3 billion on LNG shipments to maintain current power generation levels. Follow us on: Facebook Instagram Whatsapp Short link:
NZ Herald
14-06-2025
- Automotive
- NZ Herald
Repco NZ pays $123m dividend to US owner, defies economic funk with big profits
The dividend payment is a culmination of those profits as well as a boost last year from the sale and leaseback of GPC's New Zealand distribution center in Wiri, Auckland that resulted in a financial gain of $21.98m. Repco is one of only a few retailers to escape the downturn in consumer spending and while sales declined by around $10m last year, the company has seen consistent growth since GPC bought the business in 2013. GPC NZ now contributes around 15% of sales for the group in Australasia, which in turn contributes 10% of net sales by region for the US parent company. The New Zealand entity recorded total assets of $702.7m at December 31 and net equity of $225.67m. Aside from retail and trade business Repco, it also has Napa, which sells more specialist trade products, and Motion, which includes belts, bearings and fluids for industrial users. In May 2023, GPC bought the remaining 70% it didn't own of SAS Autoparts (Shock Absorber Services), which has 19 locations throughout New Zealand. The total cash consideration for that deal was $31.58m, valuing the business at just over $45m. A year earlier, GPC bought certain assets of Century Distributors and BGH Group to extend its customer base. The company has recently undertaken a refreshment plan, investing in new infrastructure and customer satisfaction. 'We have had an in-depth review of customer needs now and into the future and how we service them,' GPC NZ executive general manager Jonathon Maddren told the Herald in an interview for the Deloitte Top 200 awards in December. The firm was a finalist in the most improved category. Jonathon Maddren. 'We shared our plan with our teams to reinvigorate the business. It's not that we lost focus; we had to move with the times,' Maddren said. He noted that the make-up of the vehicles on the road has changed with the advent of hybrids and EVs and the different technology involved. 'We've been training staff and even customers to meet the (new) product requirements.' Repco's main competitor SuperCheap Auto is also recording steady profits, with a trend for increased DIY car maintenance during economic downturn. SuperCheap is owned by ASX-listed Super Retail Group, which also owns outdoor apparel and gear retailer Macpac. Accounts recently filed for the 2024 financial year showed revenue of $197.27m, up from $191.67m in 2023. Net profit was $7.64m, down slightly from $7.89m in 2023 but above the $6.62m reported for 2022. SuperCheap opened its first seven stores in New Zealand in November 2023 and currently has more than 40 stores trading nationwide, according to its website. Repco has 148 stores in New Zealand. Photo / Bay of Plenty Times Repco dates back to 1922 when it was founded by Geoff Russell in Melbourne. In the 1980s, the business expanded into New Zealand and became popular with car enthusiasts and DIY customers. Having been listed on the ASX since 1937, the company was eventually purchased by Pacific Dunlop in 1988. Three years later a buyout group led by Macquarie Bank bought the company before selling out in a public float worth A$442m and relisting on both the ASX and NZX in 2003. In 2006, private equity funds advised by CCMP Capital Asia acquired Repco for A$1.75 ($1.98) per share, valuing the company around A$800m. In 2013, Genuine Parts Company acquired the business, helping Repco expand and take advantage of the US company's global supply chain. Genuine Parts, established in 1928 and listed on the New York Stock Exchange, reported sales of $US23.5 billion in 2024, up 1.7% on the previous year, with net earnings of $US904m. The company has 10,700 locations in 17 countries and employs more than 60,000 people. Duncan Bridgeman is managing editor of NZME Business, including the Business Herald and BusinessDesk.
