Genuine Parts Company GPC reported third-quarter 2021 adjusted earnings of $1.88 per share, up 15% year over year. The bottom line also surpassed the Zacks Consensus Estimate of $1.64 per share. Higher-than-expected revenues and profits across both Automotive and Industrial Parts segments resulted in this outperformance.This Atlanta-based automotive replacement parts supplier reported net sales of $4,818.8 million, topping the Zacks Consensus Estimate of $4,697 million. The top-line figure is also higher than the year-ago quarter’s $4,370 million. The upside resulted from 7.6% growth in comparable sales, 0.9% forex gains and a 1.8% benefit from acquisitions.Genuine Parts Company Price, Consensus and EPS Surprise Genuine Parts Company price-consensus-eps-surprise-chart | Genuine Parts Company QuoteSegmental PerformanceThe Automotive segment’s net sales — accounting for 66% of the firm’s total revenues — totaled $3,204.5 million for the reported quarter, up 8.2% year over year on the back of comps growth, favorable forex translations and acquisition benefits. The metric also surpassed the Zacks Consensus Estimate of $3,132 million. The segment’s comparable sales rose 4.8% year over year for the third quarter. The operating profit increased 5.6% year over year to $281.2 million and topped the consensus mark of $263 million as well.The Industrial Parts segment’s net sales grew 14.5% from the year-ago quarter to $1,614.3 million on comps growth, forex gains and buyout synergies. Revenues from the segment also beat the consensus estimate of $1,578 million. The segment’s comparable sales climbed 13.4% during the reported quarter. The operating profit jumped 31.9% from the prior-year quarter to $165.8 million and surpassed the consensus mark of $134 million.Financial TidbitsGenuine Parts — which shares space with LKQ Corporation LKQ, Dorman Products DORM and SPX Corporation SPXC in the same industry — had cash and cash equivalents worth $919.1 million as of Sep 30, 2021. The long-term debt decreased to $2,432.5 million from the $2,700.6 million recorded in the year-ago period. Free cash flow for the reported quarter totaled $255.6 million.Guidance RaisedGenuine Parts — which presently carries a Zacks Rank #2 (Buy) — raised the 2021 guidance. The company now projects revenues from the automotive and industrial sales to witness a year-over-year uptick of 14-15% and 10-11%, up from the prior guided range of 11-13% and 6-8%, respectively. The full-year adjusted earnings per share are envisioned in the band of $6.60-$6.65, higher than the prior forecast of $6.20-$6.35. The operating cash flow forecast remains unchanged in the range of $1.2-$1.4 billion. Free cash flow is now projected in the band of $950 million to $1.15 billion, up from the previous forecast of $900 million to $1.1 billion. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made. The only question is “Will you get into the right stocks early when their growth potential is greatest?” Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How to Profit from Trillions on Spending for Infrastructure >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Genuine Parts Company (GPC): Free Stock Analysis Report LKQ Corporation (LKQ): Free Stock Analysis Report Dorman Products, Inc. (DORM): Free Stock Analysis Report SPX Corporation (SPXC): Free Stock Analysis Report To read this article on Zacks.com click here.