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Genuine Parts Q3 profit falls YOY

Genuine Parts Co. said its third-quarter normalized net income amounted to $1.12 per share, compared with the S&P Capital IQ consensus estimate of $1.28 per share.

EPS decreased 7.5% year over year from $1.22.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $165.5 million, a decrease of 9.1% from $182.1 million in the prior-year period.

The normalized profit margin fell to 4.0% from 4.6% in the year-earlier period.

Total revenue grew year over year to $4.10 billion from $3.94 billion, and total operating expenses grew year over year to $3.82 billion from $3.65 billion.

Reported net income decreased 14.4% year over year to $159.0 million, or $1.08 per share, from $185.7 million, or $1.24 per share.