Genuine Parts Company GPC reported adjusted earnings of $1.59 per share, beating the Zacks Consensus Estimate of $1.56. Adjusted earnings per share in the year-ago quarter were $1.29.The company recorded net income of $227 million in second-quarter 2018, up from $190 million in the prior-year quarterGenuine Parts reported net sales of $4.82 billion, up 17.6% year over year. The figure surpassed the Zacks Consensus Estimate of $4.66 billion. The rise was driven by acquisitions and improved organic sales. Total sales included 3% comparable growth, 14% from acquisitions — including Alliance Automotive Group (“AAG”), and 0.5% benefit from the foreign currency translation.Genuine Parts Company Price, Consensus and EPS Surprise Genuine Parts Company Price, Consensus and EPS Surprise | Genuine Parts Company QuoteOperating profit increased to $390.2 million from $349.2 million in second-quarter 2017. Selling, administrative and other expenses rose to $1.16 billion from $903.3 million a year ago.Segmental ResultsRevenues from the Automotive group’s net sales improved 27.7% to $2.74 billion from the year-ago figure of $2.14 billion. Moreover, the group’s operating profit rose to $243.6 million in the reported quarter from $207.3 million a year ago.The Industrial Parts group’s net sales rose 8.7% year over year to $1.6 billion. Moreover, operating profit increased to $125.2 million from $111.8 million in the year-ago quarter.The Business Products group’s net sales were almost in line with $483 million recorded in the prior-year quarter. However, operating profit at the segment declined to $21.4 million from $30 million recorded in the prior-year quarter.Financial PositionGenuine Parts had cash and cash equivalents of $355 million as of Jun 30, 2018, up from $203 million as of Jun 30, 2017. At the end of the first half of 2018, long-term debt increased to $2.5 billion from $550 million as of Jun 30, 2017.In second-quarter 2018, capital expenditure increased to $33.5 million from $29.3 million in the year-ago quarter.GuidanceFor full-year 2018, Genuine Parts raised the sales growth-rate expectation to 13-14% from the previous expectation of 12-13%. The company reiterated its adjusted earnings per share expectation of $5.6-$5.75.Zacks Rank & Key PicksGenuine Parts currently carries a Zacks Rank #3 (Hold). A few better-ranked stocks in the auto space are American Axle & Manufacturing Holdings, Inc. AXL, Oshkosh Corporation OSK and Visteon Corporation VC, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.American Axle has an expected long-term growth rate of 8.1%. Over a year, shares of the company have gained 3.1%.Oshkosh has an expected long-term growth rate of 18.3%. Shares of the company have risen 6.6% in the past year.Visteon has an expected long-term growth rate of 15%. Over a year, shares of the company have gained 18.4%.Today's Stocks From Zacks' Hottest StrategiesIt's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6% and +67.1%.And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.See Them Free>>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 American Axle & Manufacturing Holdings, Inc. (AXL): Free Stock Analysis Report Visteon Corporation (VC): Free Stock Analysis Report Oshkosh Corporation (OSK): Free Stock Analysis Report Genuine Parts Company (GPC): Free Stock Analysis Report To read this article on Zacks.com click here.