07:22 AM EDT, 10/22/2024 (MT Newswires) -- Genuine Parts ( GPC ) reported Q3 adjusted earnings Tuesday of $1.88 per diluted share, down from $2.49 a year earlier.

Analysts polled by Capital IQ expected $2.43.

Net sales for the quarter ended Sept. 30 were $5.97 billion, compared with $5.82 billion a year earlier.

Analysts polled by Capital IQ expected $5.95 billion.

The company lowered its full-year adjusted earnings outlook to a range of $8 to $8.20 from $9.30 to $9.50 previously. Analysts polled by Capital IQ expect $9.36. Full-year sales are now expected to grow 1% to 2% from the previous range of 1% to 3%. Analysts surveyed by Capital IQ expect revenue of $23.48 billion.

Genuine Parts ( GPC ) shares were down more than 9% in recent premarket activity.

Price: 130.00, Change: -13.12, Percent Change: -9.17