S&P/ASX 200 Index (ASX: XJO) stock Bapcor Ltd (ASX: BAP) is having a day to forget today.
As are its shareholders.
Shares in the auto parts company closed yesterday trading for $5.11. In morning trade on Thursday, shares just crashed to $3.51, down a precipitous 31.3%. After some likely bargain hunting, Bapcor shares are currently changing hands for $3.60 each, down 29.6%.
Here's what's got ASX investors overheating their sell buttons today.
Image source: Getty Images
ASX 200 stock tumbles on falling sales
The Bapcor share price is under heavy selling pressure after the ASX 200 stock released a decidedly underwhelming trading update.
Management noted that the company's second-half trading performance "was below expectation with weaker sales results". Sales in May and June were reported to be particularly weak.
This sees total unaudited revenue for the 12 months to 30 June down 1.4% from FY 2024 to $1.944 billion.
Bapcor now estimates its FY 2025 pro-forma net profit after tax (NPAT) will be between $81 million and $82 million. Statutory full-year NPAT is estimated to be between $31 million and $34 million (after significant items).
Bapcor's Trade segment was the only business to achieve year-on-year revenue growth, up 1.4% to $785 million.
FY 2025 revenue from the ASX 200 stock's Specialist Wholesale segment was down 3.1% to $717 million.
Bapcor reported "significant disruption" in its Specialist Wholesale business due to consolidation activities.
The company said the integration of three businesses into the Auto Electrical Group (AEG) resulted in branch and distribution centre consolidations, headcount reductions, and ERP consolidations. It noted that the Wholesale business also underwent branch and distribution centre consolidations, headcount reductions, and restructure of the support office.
Bapcor added that it has delivered savings towards the top end of its $20 million to $30 million guidance range.
What did management say?
Commenting on the results pressuring the ASX 200 stock today, Bapcor CEO Angus McKay said, "Significant work has been undertaken during the year to simplify the business which has disrupted trading especially in the Networks segment."
McKay added:
We have closed or moved more than 45 sites and consolidated multiple ERPs. These changes were disruptive but necessary as we strive to simplify operations to set us up into the future.
The second half trading result was also impacted by the continued challenging Australian retail environment and economic conditions in New Zealand.
With a refreshed leadership team and business strategy in place and commencement of foundational investment, I am confident the business will return to sustainable growth. Our focus for the upcoming year is to continue to simplify the business and drive better customer outcomes and growth.
With today's intraday fall factored in, the Bapcor share price is now down 22% in 2025.
