01:15 PM EDT, 10/22/2024 (MT Newswires) -- (Updates with stock price movement in the headline and first paragraph.)

Genuine Parts ( GPC ) shares fell more than 19% in recent trading Tuesday following its Q3 results with lowered full-year outlook.

The company reported Q3 adjusted earnings 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 EPS outlook to a range of $8.00 to $8.20 from $9.30 to $9.50 previously. Analysts polled by Capital IQ expected $9.36. Full-year sales are now expected to grow 1% to 2% from prior 1% to 3%.

Price: 115.32, Change: -27.80, Percent Change: -19.43