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Investing.com -- Genuine Parts Co (NYSE:GPC) posted mixed results for the fourth quarter of fiscal 2024, missing earnings per share (EPS) expectations while generating better-than-expected revenue.
The company's shares climbed less than 1% in premarket trading Tuesday.
The auto and industrial replacement parts provider reported Q4 EPS of $1.61, short of analysts' expectations of $1.64. The company reported revenue of $5.77 billion for the quarter, slightly exceeding the anticipated $5.73 billion.
Comparable sales declined by 0.5% during the period.
"I would like to thank our global GPC teammates for their hard work and dedication to serving our customers throughout 2024," said Will Stengel, President and CEO of Genuine Parts.
"While the year presented challenges due to macroeconomic conditions and softer end-market demand, we remained focused on controlling what we could—advancing our strategic initiatives to strengthen the business and effectively managing our operations."
Looking ahead, Genuine Parts projects fiscal 2025 EPS in the range of $7.75 to $8.25, compared with the market consensus of $8.29.
The company also expects revenue growth between 2% and 4% for the year.