ATLANTA (AP) — ATLANTA (AP) — Genuine Parts Co. (GPC) on Tuesday reported third-quarter net income of $226.2 million.
On a per-share basis, the Atlanta-based company said it had net income of $1.62. Earnings, adjusted for restructuring costs, came to $1.98 per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.02 per share.
The auto and industrial parts distributor posted revenue of $6.26 billion in the period, which topped Street forecasts. Four analysts surveyed by Zacks expected $6.14 billion.
Genuine Parts expects full-year earnings in the range of $7.50 to $7.75 per share.
