Genuine Parts (GPC) Q2 Earnings and Revenues Miss Estimates
Genuine Parts Company GPC has reported adjusted earnings of $1.57 per share in second-quarter 2019, whereas it recorded $1.59 in the prior-year quarter. Its earnings missed the Zacks Consensus Estimate of $1.67 in the reported quarter.
The company recorded net income of $224.4 million in second-quarter 2019, down from $227 million in the prior-year quarter.
Genuine Parts reported net sales of $4.93 billion, up 2.3% year over year. The figure missed the Zacks Consensus Estimate of $5 billion. Net sales included 1.6% comparable growth, roughly 2.7% from acquisitions, partly offset by 1.5% adverse impact of foreign currency translation and 0.5% attributable to the sale of Grupo Auto Todo in first-quarter 2019.
Operating profit decreased to $385.6 million from $390.2 million in second-quarter 2018. Selling, administrative and other expenses rose to $1.22 billion from $1.15 billion a year ago.
Genuine Parts Company Price, Consensus and EPS Surprise
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