Genuine Parts Raises FY18 Sales Outlook; Updates Earnings Guidance - Quick Facts

(RTTNews) - Genuine Parts Company (GPC) announced, for 2018, the company increased its sales guidance to be up 14% to 15%, an increase from the prior guidance of up 13% to 14%. The company revised adjusted earnings per share guidance to a range of $5.60 to $5.70 from prior range of $5.60 to $5.75.

For the third-quarter, adjusted EPS excluding net transaction-related costs and fees was $1.48, up 29% from prior year. Sales were $4.7 billion, a 15.3% increase compared to $4.1 billion for the same period in 2017.

Total sales for the third quarter included 4.3% comparable growth, approximately 12% from acquisitions, including AAG, and an approximate 1% negative impact from foreign currency translation.

Third quarter sales for the Automotive Group were up 23.3%, including an approximate 3% comparable sales increase and the benefit of acquisitions, partially offset by unfavorable foreign currency translation of approximately 2%. Sales for the Industrial Group were up 8.3%, including an approximate 7% comparable sales increase, and sales for the Business Products Group were up 1.3% consisting primarily of comparable sales growth.