Genuine Parts backs FY19 adjusted EPS view $5.81-$5.96, consensus $5.95
Backs FY19 sales growth 3%-4%, consensus $19.45B. "The company is reaffirming its full year 2019 sales and earnings guidance and continues to expect sales to increase 3% to 4%, or up an adjusted 4% to 5% before an expected headwind from currency translation of 1%. The company expects diluted earnings per share to range from $5.56 to $5.71 and is reiterating its outlook for adjusted diluted earnings per share, which excludes any first quarter and future transaction and other costs, of $5.75 to $5.90, or $5.81 to $5.96 adjusted for the impact of the 1% currency headwind. Additionally, the company continues to expect a tax rate of approximately 25% in 2019."