ATLANTA (AP) — ATLANTA (AP) — Genuine Parts Co. (GPC) on Tuesday reported second-quarter profit of $295.5 million.
On a per-share basis, the Atlanta-based company said it had profit of $2.11. Earnings, adjusted for one-time gains and costs, were $2.44 per share.
The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.59 per share.
The auto and industrial parts distributor posted revenue of $5.96 billion in the period, which also missed Street forecasts. Six analysts surveyed by Zacks expected $6.04 billion.
Genuine Parts expects full-year earnings in the range of $9.30 to $9.50 per share.
