Genuine Parts lowered its FY2016 guidance post Q3 results

• Genuine Parts (NYSE:NYSE:GPC) reports acquisition contributed 3.5 percentage point of growth to the revenue in Q3.
• Segment sales: Automotive: $2.095B (+1.5%); Industrial: $1.16B (-0.7%); Office Products: $535.18M (+4.8%); Electrical/Electronic Materials: $178.45M (-9.3%).
• Gross margin rate improved 60 bps to 30.4%.
• FY2016 Guidance: Sales: Flat to +1%; Diluted EPS: $4.55 to $4.60.
• GPC -1.40% premarket.