====Genuine Parts (GPC) reported earnings on Wed 19 Oct 2016 (b/o)

Genuine Parts misses by $0.04, misses on revs; lowers FY16 EPS, revs guidance  :

• Reports Q3 (Sep) earnings of $1.24 per share, $0.04 worse than the Capital IQ Consensus of $1.28; revenues rose 0.5% year/year to $3.94 bln vs the $4.02 bln Capital IQ Consensus.
• Co lowers guidance for FY16, sees EPS of $4.55-4.60 (Prior $4.70-4.75) vs. $4.72 Capital IQ Consensus Estimate; sees FY16 revs of ~$15.28-15.43 bln (Flat to +1% vs. prior guidance for +1-2%) vs. $15.46 bln Capital IQ Consensus Estimate.
• "Our third quarter results fell short of our expectations. We continue to operate in a tough sales environment, but our teams are working hard to overcome these challenges and generate growth. We recognize there is room for improvement and are working towards that in all aspects of our business. Our goal is to show improved results in the quarters ahead and better position the Company for sustainable growth well into the future. We have a strong balance sheet and excellent cash flows to support our efforts."