Genuine Parts Company reported a 6% year-on-year rise in second-quarter sales to $6.53 billion, while lowering its full-year diluted earnings per share guidance. Net income fell to $227.5 million from $254.8 million a year earlier, and diluted EPS declined to $1.65 from $1.83. On an adjusted basis, net income rose to $296.2 million, or $2.15 per diluted share, up from $291.7 million, or $2.10 per diluted share, after stripping out $69 million in after-tax charges tied to a global restructuring and the planned separation of its automotive and industrial businesses. The company revised its full-year diluted EPS guidance to a range of $5.9 to $6.4, down from the prior $6.1 to $6.6, while maintaining its adjusted diluted EPS outlook at $7.5 to $8 and its overall sales growth forecast of 3% to 5.5%.
Genuine Parts CoCompany cut full-year EPS guidance despite higher sales, indicating lower profitability outlook.