Genuine Parts slumps after cutting annual profit forecast

Shares of auto parts distributor Genuine Parts GPC.N fell 7% to about $114 in early trade after the company trimmed its full-year profit forecast as rising costs and a tougher consumer environment weighed on its expectations.

The company lowered its 2026 profit forecast to a range of $5.90 to $6.40 per share from its earlier $6.10 to $6.60 per share projection.

Its second-quarter adjusted profit came in at $2.15 per share, above analysts' average estimate of $2.08 per share — data compiled by LSEG.

Quarterly revenue rose 6% to $6.54 billion, beating analysts' average estimate of $6.43 billion.

Including session's moves, shares were down 6.4% year to date.