Genuine Parts (GPC) Tops Q1 EPS by 2c

Genuine Parts (NYSE: GPC) reported Q1 EPS of $1.05, $0.02 better than the analyst estimate of $1.03. Revenue for the quarter came in at $3.75 billion versus the consensus estimate of $3.72 billion.

Tom Gallagher, Chairman and Chief Executive Officer, commented, "We are pleased to report that our first quarter performance was in-line with our expectations. Our growth initiatives for the automotive business along with consistently strong industry fundamentals continue to drive our positive automotive performance. Our non-automotive businesses continue to operate in a difficult economic environment."

Mr. Gallagher concluded, "Despite the fragile industrial economic conditions which continue to pressure our near term growth outlook, our teams remain focused on key sales and cost initiatives necessary to drive long term growth for the Company. We will continue to support our sales and earnings growth with a strong balance she

For earnings history and earnings-related data on Genuine Parts (GPC) click here.

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