Genuine Parts Q2 Results Miss View - Quick Facts

(RTTNews) - Genuine Parts Co. (GPC) Monday said second-quarter net income slid to $195.4 million from $197.7 million recorded for the same period in the previous year. Earnings per share were flat with last year at $1.28.

On average, 11 analysts polled by Thomson Reuters expected earnings of $1.33 per share for the quarter. Analysts' estimates typically exclude special items.

Sales edged up 1 percent to $3.94 billion from $3.91 billion for the same period in 2014. Analysts expected revenues of $4.05 billion.

Tom Gallagher, Chairman and CEO, said, "Our results reflect the moderation in our sales and earnings growth rates in the second quarter, primarily due to the ongoing choppiness in the economy. This is especially the case for our Industrial business."

The stock, which closed down 0.3 percent on Friday at $90.64, fell 2.2 percent in pre-market activity.