Genuine Parts (GPC) Misses Q3 EPS by 13c, Sales In-Line; Raises FY18 Sales Outlook, Trims EPS

Genuine Parts (NYSE: GPC) reported Q3 EPS of $1.16, $0.13 worse than the analyst estimate of $1.29. Revenue for the quarter came in at $4.1 billion versus the consensus estimate of $4.1 billion.

GUIDANCE:

For the full year 2017, the Company is increasing its sales guidance from up 3% to 4% to up 4% to 4.5%. The Company is also updating diluted earnings per share to range from $4.47 to $4.52 and adjusted diluted earnings per share to range from $4.55 to $4.60. This compares to the prior outlook of $4.70 to $4.75 and consensus of $4.73. Adjusted diluted earnings per share excludes any fourth quarter 2017 revenue, earnings or expenses, including transaction costs, associated with the pending acquisition of Alliance Automotive Group, as well as the transaction costs recorded in the third quarter of 2017 noted above.

For earnings history and earnings-related data on Genuine Parts (GPC) click here.

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