Genuine Parts Co. on Thursday reported first-quarter net income of $160.3 million.
The Atlanta-based company said it had profit of $1.09 per share. Earnings, adjusted for non-recurring costs, were $1.28 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 $1.31 per share.
The auto and industrial parts distributor posted revenue of $4.74 billion in the period, also missing Street forecasts. Three analysts surveyed by Zacks expected $4.8 billion.
Genuine Parts expects full-year earnings in the range of $5.75 to $5.90 per share.
Genuine Parts shares have climbed 17 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 16 percent. The stock has increased 24 percent in the last 12 months.
