ATLANTA (AP) — ATLANTA (AP) — Genuine Parts Co. (GPC) on Tuesday reported third-quarter earnings of $226.6 million.
The Atlanta-based company said it had net income of $1.62 per share. Earnings, adjusted for one-time gains and costs, were $1.88 per share.
The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.44 per share.
The auto and industrial parts distributor posted revenue of $5.97 billion in the period, which also missed Street forecasts. Six analysts surveyed by Zacks expected $5.98 billion.
Genuine Parts expects full-year earnings in the range of $8 to $8.20 per share.
