ATLANTA (AP) — ATLANTA (AP) — Genuine Parts Co. (GPC) on Tuesday reported second-quarter net income of $254.9 million.
The Atlanta-based company said it had net income of $1.83 per share. Earnings, adjusted for one-time gains and costs, came to $2.10 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.08 per share.
The auto and industrial parts distributor posted revenue of $6.16 billion in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $6.11 billion.
Genuine Parts expects full-year earnings in the range of $7.50 to $8 per share.
