Genuine Parts beats Street 4Q forecasts
ATLANTA (AP) — Genuine Parts Co. on Tuesday reported fourth-quarter profit of $152.5 million.
The Atlanta-based company said it had profit of $1.02 per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.01 per share.
The auto and industrial parts distributor posted revenue of $3.78 billion in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $3.77 billion.
For the year, the company reported profit of $687.2 million, or $4.59 per share. Revenue was reported as $15.34 billion.
Genuine Parts expects full-year earnings to be $4.70 to $4.80 per share.
Genuine Parts shares have climbed slightly more than 5 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 5 percent. The stock has risen 11 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GPC at https://www.zacks.com/ap/GPC
Keywords: Genuine Parts, Earnings Report