Genuine Parts Company GPC, based in Atlanta, GA, distributes automotive and industrial replacement parts, office products and electrical/electronic materials in the U.S., Canada and Mexico. The company is poised to benefit from its various initiatives to boost sales and earnings, such as product line expansion, penetration into new markets and cost-saving activities. The company relies on a diverse product portfolio for top- and bottom-line growth. Further, Genuine Parts will benefit from the frequently undertaken acquisitions to expand its business.However, Genuine Parts is facing challenges due to fragile economic conditions, both in the domestic market and globally. This is expected to have an adverse impact on segment results, primarily that of the Industrial and Electrical segment. In addition, rising competition in the industries in which Genuine Parts operates poses a challenge for the company.Estimate Trend & Surprise HistoryInvestors should note that the first-quarter earnings estimate for Genuine Parts has been stable over the past week and month.The company has delivered mixed earnings surprises. It has surpassed the Zacks Consensus Estimate in two of the trailing 4 quarters and reported breakeven results in one of the quarters, leading to an average beat of around 1.47%. Thus investors are eagerly awaiting Genuine Parts latest earnings report.We have highlighted some of the key stats from this just-revealed announcement below:EarningsGenuine Parts’ earnings were $1.06 per share in the first quarter of 2016, 1% higher than $1.05 recorded in the year ago quarter. Earnings per share surpassed the Zacks Consensus Estimate of $1.03.RevenuesGenuine Parts reported revenues of $3.72 billion, down 0.5% year over year. Revenues also missed the Zacks Consensus Estimate of $3.77 billion.Key Stats/Developments to NoteGenuine Parts’ Automotive Group revenues went up 2% year over year. The segment benefited from core automotive growth and benefit from acquisitions.Zacks RankCurrently, Genuine Parts has a Zacks Rank #3 (Buy), but that could change following its earnings report which has just released.Market ReactionGenuine Parts’ shares were inactive following the release. Clearly, the initial reaction to the release is negative.Check back later for our full write up on Genuine Parts’ earnings report!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 >> 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 (GPC): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research