Genuine Parts trims the upper end of its annual earnings forecast
Genuine Parts Company ($GPC) reported quarterly sales of $6.5 billion, up 4.2%, including comparable-sales growth of 2.9%. GAAP net income was $224 million, slightly below $226 million a year earlier, with earnings per share unchanged at $1.62. Adjusted earnings increased to $2.07 per share from $1.98. The quarter included $61 million of after-tax adjustments associated with restructuring and separation activities. The company lowered the upper boundary of its full-year adjusted earnings forecas
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