Genuine Parts Q3 Earnings: Industrial Weakness And Europe Drag On Profit, Margins Shrink, Lowers Annual Outlook

Genuine Parts Co (NYSE:GPC) stock plunged after the company reported mixed third-quarter earnings and a grim outlook. Adjusted EPS of $1.88 missed the analyst consensus of $2.42.

The automotive and industrial replacement parts provider reported third-quarter sales growth of 2.5% year-on-year to $5.97 billion, marginally beating the analyst consensus estimate of $5.94 billion.

The company attributed the sales growth to a 3.2% benefit from acquisitions, partially offset by a 0.8% decrease in comparable sales.

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