Genuine Parts Co Q1 Profit Decreases, but beats estimates

(RTTNews) - Genuine Parts Co (GPC) revealed a profit for first quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $248.89 million, or $1.78 per share. This compares with $303.96 million, or $2.14 per share, in last year's first quarter.

Excluding items, Genuine Parts Co reported adjusted earnings of $310.90 million or $2.22 per share for the period.

Analysts on average had expected the company to earn $2.16 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 0.2% to $5.78 billion from $5.77 billion last year.

Genuine Parts Co earnings at a glance (GAAP) :

-Earnings (Q1): $248.89 Mln. vs. $303.96 Mln. last year. -EPS (Q1): $1.78 vs. $2.14 last year. -Revenue (Q1): $5.78 Bln vs. $5.77 Bln last year.

-Guidance: Full year EPS guidance: $9.80 to $9.95