10:08 AM EDT, 04/18/2024 (MT Newswires) -- (Updates to add recent stock move in the headline and first paragraph.)

Genuine Parts ( GPC ) shares were up nearly 11% in recent Thursday trading after the company reported higher year-over-year adjusted earnings and net sales.

The company reported Q1 adjusted earnings of $2.22 per diluted share, up from $2.14 a year earlier. Analysts polled by Capital IQ expected $2.16.

Net sales for the quarter ended March 31 were $5.78 billion, up from $5.77 billion a year earlier. Analysts surveyed by Capital IQ expected $5.84 billion.

The company said it now expects 2024 adjusted EPS of $9.80 to $9.95, up from its previous range of $9.70 to $9.90. Analysts polled by Capital IQ expect $9.78.

Sales for the current year are still projected to grow 3% to 5%, the company said.