Genuine Parts Company Lowers 2017 Earnings Outlook - Quick Facts

(RTTNews) - Genuine Parts Company (GPC) announced the company now expects its 2017 earnings per share to range from $4.70 to $4.75 compared to the prior outlook of $4.75 to $4.85. The company continues to expect total sales to be up 3% to 4%.

Net income for the second quarter was $190.0 million compared to $191.4 million recorded for the same period in the previous year. Earnings per share were $1.29, up 1% from $1.28 for the second quarter last year.

Sales for the second quarter were $4.1 billion, a 5% increase compared to $3.9 billion for the same period in 2016. Sales for the Automotive Group were up 4%, including an approximate 1.5% comparable sales increase.