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Genuine Parts Q2 profit falls YOY

Genuine Parts Co. said its normalized net income for the second quarter amounted to $1.26 per share, compared with the S&P Capital IQ consensus estimate of $1.31 per share.

In the prior-year period, the per-share result was a profit of $1.25.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $185.7 million, compared with $187.5 million in the prior-year period.

The normalized profit margin declined to 4.5% from 4.8% in the year-earlier period.

Total revenue rose 5.1% year over year to $4.10 billion from $3.90 billion, and total operating expenses climbed 5.6% on an annual basis to $3.80 billion from $3.59 billion.

Reported net income totaled $190.5 million, or $1.29 per share, compared with $192.0 million, or $1.28 per share, in the prior-year period.