Genuine Parts Co Q1 Profit Increases, beats estimates

(RTTNews) - Genuine Parts Co (GPC) released a profit for its first quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line came in at $245.84 million, or $1.72 per share. This compares with $217.71 million, or $1.50 per share, in last year's first quarter.

Excluding items, Genuine Parts Co reported adjusted earnings of $265.65 million or $1.86 per share for the period.

Analysts on average had expected the company to earn $1.67 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 18.6% to $5.29 billion from $4.46 billion last year.

Genuine Parts Co earnings at a glance (GAAP) :

-Earnings (Q1): $245.84 Mln. vs. $217.71 Mln. last year. -EPS (Q1): $1.72 vs. $1.50 last year. -Analyst Estimate: $1.67 -Revenue (Q1): $5.29 Bln vs. $4.46 Bln last year.

-Guidance: Full year EPS guidance: Adj: $7.70 - $7.85