Genuine Parts Q4 Profit Down - Quick Facts

(RTTNews) - Genuine Parts Company (GPC) reported that its net income for the fourth quarter 2015 declined to $161.3 million from $165.6 million in the same period in the previous year. Earnings per share on a diluted basis were $1.07, equal to the earnings per share for the fourth quarter in 2014. Analysts polled by Thomson Reuters expected the company to report earnings of $1.01 per share. Analysts' estimates typically exclude special items.

Quarterly sales declined to $3.68 billion from $3.82 billion last year. Currency negatively impacted revenue growth by approximately 3% and earnings per share by $0.03 in the fourth quarter. Wall Street expected revenues of $3.75 billion for the quarter.

Tom Gallagher, Chairman and Chief Executive Officer,, "We enter 2016 with a cautious outlook on the overall economy. However, we remain committed to growing sales and earnings, showing continued operating margin improvement, generating solid cash flows and maintaining a strong balance sheet. We have strategic plans in place to support additional improvement in each of these areas in the year ahead."