Genuine Parts Lowers FY19 Earnings Guidance - Quick Facts

(RTTNews) - Genuine Parts Company (GPC) revised its fiscal 2019 outlook for adjusted earnings per share to $5.60 to $5.68. This is a change from the prior guidance of $5.65 to $5.75. Analysts polled by Thomson Reuters expect the company to report profit per share of $5.69. Analysts' estimates typically exclude special items.

For fiscal 2019, the company now expects sales to increase approximately 3.5%. This represents a change from the previous guidance for a 4.5% to 5.5% sales increase.

Third-quarter adjusted net income per share was $1.50 compared to $1.48, prior year. On average, 12 analysts polled by Thomson Reuters expected the company to report profit per share of $1.47, for the quarter.

Third-quarter sales were $5.02 billion, a 6.2 percent increase compared to $4.7 billion for the same period in 2018. Total sales for the third quarter included the contribution of 1.2 percent comparable growth and 6.7 percent from acquisitions, offset by a 1.0 percent negative impact from foreign currency translation and 0.7 percent due primarily to the sale of Grupo Auto Todo. Analysts expected revenue of $5.03 billion, for the quarter.