Genuine Parts considers separating units, Bloomberg News reports

Industrial company Genuine Parts GPC is considering a breaking up of its industrial and auto parts units, Bloomberg News reported on Friday, citing people familiar with the matter.

The company is evaluating a potential spin-off of its auto segment, the report said.

Discussions are still in early stages and the company may retain its existing structure, it added.

Earlier this month, Reuters reported Genuine Parts reached a settlement with its largest active shareholder, Elliott Investment Management, to add two new directors to its board.

In July, the company cut its annual profit forecast, hurt by climbing operational expenses amid rising inflationary pressures and uncertainty from a shifting tariff policy.