ATLANTA (AP) — ATLANTA (AP) — Genuine Parts Co. (GPC) on Tuesday reported fourth-quarter profit of $133.1 million.
On a per-share basis, the Atlanta-based company said it had profit of 96 cents. Earnings, adjusted for one-time gains and costs, came to $1.61 per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.54 per share.
The auto and industrial parts distributor posted revenue of $5.77 billion in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $5.69 billion.
For the year, the company reported profit of $904.1 million, or $6.47 per share. Revenue was reported as $23.49 billion.
Genuine Parts expects full-year earnings in the range of $7.75 to $8.25 per share.
