07:39 AM EDT, 07/23/2024 (MT Newswires) -- Genuine Parts ( GPC ) reported Q2 adjusted earnings Tuesday of $2.44 per diluted share, unchanged from a year earlier.

Analysts polled by Capital IQ expected $2.59.

Net sales for the quarter ended June 30 were $5.96 billion, up from $5.92 billion a year earlier.

Analysts surveyed by Capital IQ expected $6.04 billion.

Genuine Parts ( GPC ) said it now expects fiscal 2024 adjusted EPS of $9.30 to $9.50, compared with $9.80 to $9.95 previously. Analysts polled by Capital IQ expect EPS of $9.86.

The company also cut its revenue growth estimate to 1% to 3% from 3% to 5%.

Genuine Parts' ( GPC ) shares fell 3.2% in recent Tuesday premarket activity.

Price: 132.00, Change: -6.37, Percent Change: -4.60