ATLANTA — Genuine Parts Co. (GPC) on Thursday reported third-quarter profit of $220.2 million.
The Atlanta-based company said it had net income of $1.49 per share. Earnings, adjusted for non-recurring gains, came to $1.48 per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.49 per share.
The auto and industrial parts distributor posted revenue of $4.72 billion in the period, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $4.73 billion.
Genuine Parts expects full-year earnings in the range of $5.60 to $5.70 per share.
Genuine Parts shares have increased slightly since the beginning of the year, while the Standard & Poor's 500 index has risen 5 percent. The stock has decreased nearly 2 percent in the last 12 months.
