Genuine Parts Company GPC reported first-quarter adjusted earnings of $1.50 per share, up 79% year over year. The bottom line also surpassed the Zacks Consensus Estimate of $1.21 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 $4,464.7 million, topping the Zacks Consensus Estimate of $4,283.1 million. Moreover, the top-line figure was higher than the year-ago quarter’s $4,092.5 million. This upside resulted from 4.6% growth in comparable sales, 3.7% forex gains and a 0.8% 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 $2,953.2 million for the reported quarter, up 14.3% year over year on the back of comps growth, favorable forex translations and acquisition benefits. The metric also surpassed the Zacks Consensus Estimate of $2,691 million. The segment’s comparable sales rose 8.3% year over year for the first quarter. Operating profit increased 65.3% year over year to $235.7 million and topped the consensus mark of $178 million.The Industrial Parts segment’s net sales edged up 0.1% from the year-ago quarter to $1,511.5 million on the back of forex gains and buyout synergies, offset by a decline in comparable sales. Revenues from the segment also beat the consensus estimate of $1,483 million. The segment’s comparable sales, however, declined 1.8% for the reported quarter. Nonetheless, operating profit rose 10% from the prior-year quarter to $125.3 million and surpassed the consensus mark of $115 million.Financial TidbitsGenuine Parts — which shares space with LKQ Corporation LKQ, Dorman Products DORM and SPX Corporation SPXC — had cash and cash equivalents worth $1,117.9 million as of Mar 31, 2020. Long-term debt decreased to $2,458 million from $2,726.4 million recorded in the year-ago period. Free cash flow for the quarter under review totaled $252.6 million.Guidance RaisedGenuine Parts — which presently carries a Zacks Rank #2 (Buy) — raised its 2021 guidance. The company now projects revenues from automotive and industrial sales to witness year-over-year uptick of 5-7% and 4-6%, up from the prior guided range of 4-6% and 3-5%, respectively. Full-year earnings per share are envisioned in the band of $5.85-$6.05, reflecting a 5.3% increase from the mid-point of the prior forecast. Operating cash flow and free cash flow projections remain unchanged in the band of $1-$1.2 billion and $700-$900 million, respectively. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Bitcoin, Like the Internet Itself, Could Change EverythingBlockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.See 3 crypto-related stocks now >>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 Dorman Products, Inc. (DORM): Free Stock Analysis Report LKQ Corporation (LKQ): Free Stock Analysis Report SPX Corporation (SPXC): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research