Genuine Parts Co (NYSE:GPC) shares are trading lower after the company reported worse-than-expected second-quarter FY24 earnings and a grim outlook. The company reported second-quarter sales growth of 0.8% year-on-year to $5.963 billion, missing the analyst consensus estimate of $6.047 billion. The company attributed the sales growth to a 2.2% benefit from acquisitions, partially offset by a 0.9% decrease in comparable sales. Automotive Parts Group sales grew 2% Y/Y. This segment’s profit margin contracted 60 basis points to 8.4%. Sales for the Industrial ...