Genuine Parts Co Q3 Profit Decreases, Misses Estimates

(RTTNews) - Genuine Parts Co (GPC) revealed a profit for third quarter that decreased from the same period last year and missed the Street estimates.

The company's earnings came in at $226.58 million, or $1.62 per share. This compares with $351.20 million, or $2.49 per share, in last year's third quarter.

Excluding items, Genuine Parts Co reported adjusted earnings of $263.01 million or $1.88 per share for the period.

Analysts on average had expected the company to earn $2.42 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 2.5% to $5.970 billion from $5.824 billion last year.

Genuine Parts Co earnings at a glance (GAAP) :

-Earnings (Q3): $226.58 Mln. vs. $351.20 Mln. last year. -EPS (Q3): $1.62 vs. $2.49 last year. -Revenue (Q3): $5.970 Bln vs. $5.824 Bln last year.

-Guidance: Full year EPS guidance: $8.00 to $8.20