Toronto, Ontario — This week’s Tuesday Ticker focuses on the third-quarter performances of some of the best-known auto parts companies operating outside of Canada. In recent days, many of these businesses have seen stock prices shift dramatically after the release of Q3 results.
O’Reilly Automotive, a Missouri-based auto parts retailer with more than 6,000 locations across North America, reported revenue of US$4.71 billion ($6.47 billion) for the quarter, up eight percent from a year earlier.
Comparable-store sales rose 5.6 percent, and net income reached about US$726 million ($997 million), compared with US$665 million ($913 million) a year ago.
As a result of the strong performance, the company raised its full-year guidance. Despite this, its share price fell roughly six percent in the wake of the report’s release, a drop of about US$6.00 ($8.25) per share.
Genuine Parts Company, the Georgia-based distributor behind the NAPA brand, reported quarterly sales of about US$6.3 billion ($8.65 billion), up nearly five percent year-over-year.
Adjusted diluted earnings came in at US$1.98 ($2.72) per share, slightly below analyst expectations, but the company lifted its full-year revenue forecast to between three and four percent growth.
Its stock rose about 2.2 percent on the day, or roughly US$2.90 ($4.00) per share.
Valeo, a Paris-based automotive supplier known for its lighting and electrical systems, recorded third-quarter sales of €4.997 billion ($7.36 billion) — up about 3.5 percent on a like-for-like basis.
The company reaffirmed its full-year guidance of roughly €20.5 billion ($30.19 billion) in sales, prompting its shares to rise between seven and eight percent — an increase of about €3.50 to €4 ($5.15 to $5.90) per share.
Forvia, also headquartered in France and formed from the merger of Faurecia and HELLA, reported consolidated sales of €6.12 billion ($9.00 billion) for the quarter. Organic growth held steady, but a negative currency impact of about 3.7 percent weighed on reported results.
The company maintained its full-year forecast, though its stock slipped roughly seven percent in early trading, equivalent to a decline of about €0.70 ($1.03) per share.
