- Genuine Parts (NYSE:GPC) is on watch after the auto retailer posts an in-line Q3 report and sets guidance slightly below expectations.
- The company sees full-year revenue growth of 14% to 15% and full-year EPS of $5.50 to $5.60 vs. $5.65 consensus. A full-year tax rate of approximately 25.0% is anticipated.
- CEO update: "We enter the fourth quarter of 2018 with positive momentum and plans for continued sales and earnings growth. We remain focused on the further strengthening of our core sales growth, maximizing the benefits of our acquisitions and improving our operating results to further enhance our long-term sales and profit outlook. As always, we will support these initiatives with a strong balance sheet and continued strong cash flows."
- Previously: Genuine Parts EPS in-line, beats on revenue (Oct. 18)