Genuine Parts (NYSE: GPC) reported Q3 EPS of $1.24, in-line with the analyst estimate of $1.24. Revenue for the quarter came in at $3.92 billion versus the consensus estimate of $4.01 billion.

Tom Gallagher, Chairman and Chief Executive Officer, commented, "The strength in our underlying Automotive distribution business, as well as positive sales growth in the Office and Electrical distribution businesses, was offset by significant foreign currency headwinds and ongoing challenging global economic conditions, particularly in our Industrial distribution business. These factors pressured our overall sales and earnings growth as we moved through the third quarter, although our focus on streamlining operations and controlling expenses drove positive margin expansion."

Mr. Gallagher added, "We enter the fourth quarter facing market conditions that have softened, most prominently in our Industrial and Electrical businesses. Based on these uncertain conditions, which are likely to persist through the balance of the year, we expect sales and earnings to be further challenged as we work our way through the final quarter of 2015."

Mr. Gallagher concluded, "We have initiatives in place in each of our businesses which are designed to stimulate sales and earnings growth in the coming quarters. While these initiatives will take time to fully materialize in our quarterly results, our teams are committed to generating growth both organically and through selective accretive acquisitions that should enhance the long-term growth profile of our four businesses in the coming years. Our strong cash flow generation, driven by significant working capital improvement and our strong balance sheet provide us with the ability to support these initiatives. Additionally, we expect to continue to maximize shareholder value with our dividend and ongoing share repurchase program."

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