Latest news with #auto parts
CTV News
14 hours ago
- Automotive
- CTV News
Calgary fire crews put down fire at southeast auto parts shop
An investigation is underway into a fire at an auto parts shop in southeast Calgary Saturday. At around 2:45 p.m., fire crews were called to a five-bay auto parts building at 1848 54 Street S.E. for reports of a fire. Arriving crews discovered heavy black smoke and flames coming from inside the building. The fire is now extinguished, but one person suffered second-degree burns and was transported to hospital in non-life-threatening condition. Sixteen fire apparatus and 35 personnel responded to the call.
Yahoo
2 days ago
- Automotive
- Yahoo
A Look Back at Auto Parts Retailer Stocks' Q1 Earnings: Genuine Parts (NYSE:GPC) Vs The Rest Of The Pack
As the Q1 earnings season wraps, let's dig into this quarter's best and worst performers in the auto parts retailer industry, including Genuine Parts (NYSE:GPC) and its peers. Cars are complex machines that need maintenance and occasional repairs, and auto parts retailers cater to the professional mechanic as well as the do-it-yourself (DIY) fixer. Work on cars may entail replacing fluids, parts, or accessories, and these stores have the parts and accessories or these jobs. While e-commerce competition presents a risk, these stores have a leg up due to the combination of broad and deep selection as well as expertise provided by sales associates. Another change on the horizon could be the increasing penetration of electric vehicles. The 5 auto parts retailer stocks we track reported a mixed Q1. As a group, revenues beat analysts' consensus estimates by 1%. Luckily, auto parts retailer stocks have performed well with share prices up 24.2% on average since the latest earnings results. Genuine Parts (NYSE:GPC) Largely targeting the professional customer, Genuine Parts (NYSE:GPC) sells auto and industrial parts such as batteries, belts, bearings, and machine fluids. Genuine Parts reported revenues of $5.87 billion, up 1.4% year on year. This print exceeded analysts' expectations by 0.5%. Overall, it was a strong quarter for the company with an impressive beat of analysts' EBITDA estimates and a solid beat of analysts' gross margin estimates. "We had a solid start to 2025, despite the tariffs and trade dynamics that are impacting the operating landscape," said Will Stengel, President and Chief Executive Officer. Interestingly, the stock is up 9.6% since reporting and currently trades at $122.55. Is now the time to buy Genuine Parts? Access our full analysis of the earnings results here, it's free. Best Q1: Advance Auto Parts (NYSE:AAP) Founded in Virginia in 1932, Advance Auto Parts (NYSE:AAP) is an auto parts and accessories retailer that sells everything from carburetors to motor oil to car floor mats. Advance Auto Parts reported revenues of $2.58 billion, down 6.8% year on year, outperforming analysts' expectations by 3.1%. The business had a strong quarter with an impressive beat of analysts' EPS estimates and full-year EPS guidance exceeding analysts' expectations. Advance Auto Parts scored the biggest analyst estimates beat and highest full-year guidance raise among its peers. The market seems happy with the results as the stock is up 99.1% since reporting. It currently trades at $62.29. Is now the time to buy Advance Auto Parts? Access our full analysis of the earnings results here, it's free. Slowest Q1: Monro (NASDAQ:MNRO) Started as a single location in Rochester, New York, Monro (NASDAQ:MNRO) provides common auto services such as brake repairs, tire replacements, and oil changes. Monro reported revenues of $295 million, down 4.9% year on year, exceeding analysts' expectations by 1.3%. Still, it was a softer quarter as it posted a significant miss of analysts' EBITDA and gross margin estimates. Interestingly, the stock is up 16.6% since the results and currently trades at $14.88. Read our full analysis of Monro's results here. O'Reilly (NASDAQ:ORLY) Serving both the DIY customer and professional mechanic, O'Reilly Automotive (NASDAQ:ORLY) is an auto parts and accessories retailer that sells everything from fuel pumps to car air fresheners to mufflers. O'Reilly reported revenues of $4.14 billion, up 4% year on year. This print missed analysts' expectations by 0.9%. More broadly, it was a mixed quarter as it also logged full-year EPS guidance exceeding analysts' expectations. O'Reilly had the weakest performance against analyst estimates and weakest full-year guidance update among its peers. The stock is flat since reporting and currently trades at $91.40. Read our full, actionable report on O'Reilly here, it's free. AutoZone (NYSE:AZO) Aiming to be a one-stop shop for the DIY customer, AutoZone (NYSE:AZO) is an auto parts and accessories retailer that sells everything from car batteries to windshield wiper fluid to brake pads. AutoZone reported revenues of $4.46 billion, up 5.4% year on year. This number topped analysts' expectations by 1.1%. Zooming out, it was a slower quarter as it logged a miss of analysts' EBITDA estimates and a slight miss of analysts' gross margin estimates. AutoZone delivered the fastest revenue growth among its peers. The stock is down 3.8% since reporting and currently trades at $3,683. Read our full, actionable report on AutoZone here, it's free. Market Update Thanks to the Fed's series of rate hikes in 2022 and 2023, inflation has cooled significantly from its post-pandemic highs, drawing closer to the 2% goal. This disinflation has occurred without severely impacting economic growth, suggesting the success of a soft landing. The stock market thrived in 2024, spurred by recent rate cuts (0.5% in September and 0.25% in November), and a notable surge followed Donald Trump's presidential election win in November, propelling indices to historic highs. Nonetheless, the outlook for 2025 remains clouded by potential trade policy changes and corporate tax discussions, which could impact business confidence and growth. The path forward holds both optimism and caution as new policies take shape. Want to invest in winners with rock-solid fundamentals? Check out our Hidden Gem Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate. StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here. Sign in to access your portfolio
Reuters
6 days ago
- Automotive
- Reuters
US judge rejects lawyers' $94 million fee bid in auto parts pricing case
July 14 (Reuters) - A U.S. judge has declined to approve $94 million in additional legal fees for a group of attorneys who already collected more than $269 million in fees for securing $1.2 billion in settlements with auto parts makers. Chief U.S. District Judge Sean Cox in Detroit called the plaintiffs' fee request "excessive" in a ruling, opens new tab on Friday. Cox said the attorneys from law firms Susman Godfrey; Cotchett Pitre; and Robins Kaplan were owed more compensation for their latest and fifth settlement rounds. But the judge said the amount should be "far less" than $94 million and asked the lawyers to refile their request closer to the end of the settlement claims process. The law firms represent consumer and commercial auto parts buyers who accused auto parts makers of conspiring to fix prices. Companies including Denso; Hitachi Automotive; and Mitsubishi Electric were among dozens of defendants that settled with the plaintiffs in recent years. They all denied any wrongdoing. The litigation began in 2012, following a U.S. Justice Department probe of some manufacturers. The plaintiffs' lawyers in May asked Cox to approve, opens new tab the additional fee award, covering legal work from 2019. Several companies that are members of the class of parts buyers, including car rental dealers Hertz (HTZ.O), opens new tab and Avis (CAR.O), opens new tab, objected, opens new tab to the $94 million fee request, arguing that the lawyers had already been amply compensated. Lawyers requesting the fees at Susman Godfrey; Cotchett Pitre; and Robins Kaplan did not immediately respond to requests for comment. Hertz and Avis did not immediately respond to similar requests. In a court filing, the plaintiffs' lawyers said the $1.2 billion settlement was "believed to be the largest amount ever obtained on behalf of indirect purchasers in the history of U.S. antitrust litigation." The case is In re Automotive Parts Antitrust Litigation, U.S. District Court for the Eastern District of Michigan, No. 2:12-md-02311. Read more: US judge admonishes Amazon over disclosures in FTC lawsuit over Prime service Lawyers defend $205 million legal fee in US auto class action settlement Class action administrators, banks accused of kickback scheme in new lawsuits More lawyers join the $3,000-an-hour club, as other firms close in
Yahoo
6 days ago
- Automotive
- Yahoo
O'Reilly Automotive, Inc. (ORLY): A Bear Case Theory
We came across a bearish thesis on O'Reilly Automotive, Inc. on by moneytr33. In this article, we will summarize the bears' thesis on ORLY. O'Reilly Automotive, Inc.'s share was trading at $90.13 as of June 30th. ORLY's trailing and forward P/E were 33.13 and 30.67 respectively according to Yahoo Finance. O'Reilly Automotive (ORLY), widely regarded as a best-in-class auto parts retailer, is facing a compelling short case despite its operational excellence. The company boasts industry-leading same-store sales growth, unit expansion, and return metrics, but its current valuation—trading at 31x forward earnings—is at an all-time high and appears disconnected from its underlying fundamentals. At this elevated multiple, ORLY offers a forward return of only 8–9%, driven by mid-single-digit revenue growth and a 3% free cash flow yield. Operational pressures are mounting as gross margins face headwinds and SG&A costs rise, leading to a decline in operating margins. Furthermore, share buybacks, once a key EPS lever, have become uneconomic given ORLY's earnings yield is now below its cost of debt, eroding prior financial engineering advantages. The pro segment, though sticky and lower-margin, is maturing, and growth has decelerated. Meanwhile, competitive threats are rising—from Walmart's expanding auto parts push to a rejuvenated Advance Auto Parts reducing market share giveaways. Structural risks such as fewer parts in EVs and a future shift toward autonomous vehicles could dampen long-term sentiment. Historically, valuation air pockets—as seen in 2017—have led to multiple compression, especially as cyclical tailwinds like post-COVID car demand normalize. Today's 31x forward P/E, 1.5x the S&P's multiple versus a historical average of 1.14x, could revert to or fall below market multiples, implying over 30% downside. Though ORLY is not expected to implode fundamentally, it now resembles a richly priced, maturing business in an increasingly competitive and uncertain landscape—making it an attractive relative short. Previously we covered a bullish thesis on AutoZone, Inc. by The Compounding Tortoise in June 2025, which highlighted its attractive valuation, strong same-store sales rebound, and long-term growth from new mega hubs. The company's stock price has appreciated approximately by 1.4% since our coverage. This is because the thesis played out modestly. moneytr33 shares a contrarian view on peer O'Reilly Automotive emphasizing its stretched valuation and margin pressures. ORLY isn't on our list of the 30 Most Popular Stocks Among Hedge Funds. While we acknowledge the risk and potential of ORLY as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock. Disclosure: None. This article was originally published at Insider Monkey. Sign in to access your portfolio
