WASHINGTON (dpa-AFX) - Genuine Parts Co (GPC) announced a profit for first quarter that decreased from the same period last year but beat the Street estimates.
The company's bottom line totaled $194.4 million, or $1.40 per share. This compares with $248.9 million, or $1.78 per share, last year.
Excluding items, Genuine Parts Co reported adjusted earnings of $243.1 million or $1.75 per share for the period.
Analysts on average had expected the company to earn $1.68 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period rose 1.4% to $5.866 billion from $5.783 billion last year.
Genuine Parts Co earnings at a glance (GAAP) :
-Earnings: $194.4 Mln. vs. $248.9 Mln. last year. -EPS: $1.40 vs. $1.78 last year. -Revenue: $5.866 Bln vs. $5.783 Bln last year.
-Guidance: Full year EPS guidance: $6.95 to $7.45
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