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  1. TLANTA, Jan. 25, 2024 /PRNewswire/ -- Genuine Parts Company (NYSE: GPC), a leading global distributor of automotive and industrial replacement parts, plans to release fourth quarter and full-year financial results on February 15, 2024. Following the release, management will host a conference call at 8:30 a.m. ET. The public may access the webcast and supplemental earnings materials on the company's investor relations website. The call is also available by dialing 1-800-836-8184. A replay of the call will be available on the company's website or toll-free at 1-888-660-6345, ID 30941#, two hours after completion of the conference call. About Genuine Parts Company Founded in 1928, Genuine Parts Company is a global service organization engaged in the distribution of automotive and industrial replacement parts. The company's Automotive Parts Group distributes automotive replacement parts in the U.S., Canada, Mexico, Australasia, France, the U.K., Ireland, Germany, Poland, the Netherlands, Belgium, Spain and Portugal. The company's Industrial Parts Group distributes industrial replacement parts in the U.S., Canada, Mexico and Australasia. In total, the company serves its global customers from an extensive network of more than 10,000 locations in 17 countries and has approximately 58,000 employees. Further information is available at genpt.com. SOURCE Genuine Parts Company For further information: Investor contact: Timothy Walsh, (678) 934-5349, Senior Director - Investor Relations; Media contact: Heather Ross, (678) 934-5220, Vice President - Strategic Communications View the full article
  2. ATLANTA, Nov. 14, 2023 /PRNewswire/ -- Genuine Parts Company (NYSE: GPC), a leading global distributor of automotive and industrial replacement parts, announced today its Board of Directors declared a regular quarterly cash dividend of ninety-five cents ($0.95) per share on the company's common stock. The dividend is payable January 2, 2024 to shareholders of record on December 1, 2023. About Genuine Parts Company Founded in 1928, Genuine Parts Company is a global service organization engaged in the distribution of automotive and industrial replacement parts. The company's Automotive Parts Group distributes automotive replacement parts in the U.S., Canada, Mexico, Australasia, France, the U.K., Ireland, Germany, Poland, the Netherlands, Belgium, Spain and Portugal. The company's Industrial Parts Group distributes industrial replacement parts in the U.S., Canada, Mexico and Australasia. In total, the company serves its global customers from an extensive network of more than 10,000 locations in 17 countries and has approximately 58,000 employees. Further information is available at www.genpt.com. SOURCE Genuine Parts Company For further information: Investor, Timothy Walsh, (678) 934-5349, Senior Director - Investor Relations; Media, Heather Ross, (678) 934-5220, Vice President - Strategic Communications View the full article
  3. ATLANTA, Oct. 19, 2023 /PRNewswire/ -- Genuine Parts Company (NYSE: GPC), a leading global distributor of automotive and industrial replacement parts, announced today its results for the third quarter ended September 30, 2023. "Our third quarter performance was highlighted by double digit earnings growth, driven by benefits from the mix and geographic diversity of our businesses as well continued progress on our strategic initiatives," said Paul Donahue, Chairman and Chief Executive Officer. "Through our One GPC approach, we are simplifying our business while driving productivity and efficiency across our operations. We would like to thank our teams around the world for their continued dedication to serving our customers and delivering solid quarterly results." Third Quarter 2023 Results Sales were $5.8 billion, a 2.6% increase compared to $5.7 billion in the same period of the prior year. The growth in sales is attributable to a 0.5% increase in comparable sales, a 1.7% benefit from acquisitions and a 0.4% net favorable impact of foreign currency and other. The third quarter of 2023 had one less selling day in the U.S. compared to the third quarter of 2022, which negatively impacted third quarter sales growth by approximately 1.2%. Net income was $351 million, an increase of 12.4% compared to net income of $312 million in the prior year. Diluted EPS was $2.49, an increase of 13.2% compared to $2.20 in the prior year period. Net income of $351 million compares to adjusted net income of $317 million for the same three-month period of the prior year, an increase of 10.7%. On a per share diluted basis, net income was $2.49, an increase of 11.7% compared to adjusted diluted earnings per share of $2.23 last year. Refer to the reconciliation of GAAP net income to adjusted net income and GAAP diluted earnings per share and adjusted diluted earnings per share for more information. Third Quarter 2023 Segment Highlights Automotive Parts Group ("Automotive") Global Automotive sales were $3.6 billion, up 3.9% from the same period in 2022, with a 0.6% increase in comparable sales, 2.4% benefit from acquisitions and a net 0.9% favorable impact of foreign currency and other. Segment profit of $322 million increased 4.1%, with segment profit margin of 8.9%, flat compared to last year. The third quarter of 2023 had one less selling day in the U.S. compared to the third quarter of 2022, which negatively impacted third quarter Global Automotive sales growth by approximately 1.0%. Industrial Parts Group ("Industrial") Industrial sales were $2.2 billion, up 0.6% from the same period in 2022, reflecting a 0.3% increase in comparable sales and a 0.6% benefit from acquisitions, slightly offset by a 0.3% unfavorable impact of foreign currency. Segment profit of $283 million increased 16.6%, with segment profit margin of 12.9% up 180 basis points from the same period of the prior year. The third quarter of 2023 had one less selling day in the U.S. compared to the third quarter of 2022, which negatively impacted third quarter Industrial sales growth by approximately 1.6%. "While our Industrial and international Automotive businesses performed well during the third quarter, the results for our U.S. Automotive business were below our expectations and negatively impacted by one less selling day," said Will Stengel, President and Chief Operating Officer. "Our third quarter results reflect continued improvement in segment margins, driven by strong team operating discipline despite the slower growth environment." Nine Months 2023 Results Sales for the nine months ended September 30, 2023 were $17.5 billion, up 5.6% from the same period in 2022. Net income for the nine months was $1.0 billion, or $7.08 per diluted share, an increase of 8.4% compared to $6.53 per diluted share in 2022. Net income of $1.0 billion, or $7.08 per diluted share, compares to adjusted net income of $896 million, or adjusted diluted earnings per share of $6.29, in 2022, an increase of 12.6%. Balance Sheet, Cash Flow and Capital Allocation The company generated cash flow from operations of $1.1 billion for the first nine months of 2023. We used $473 million in cash for investing activities, including $350 million for capital expenditures and $211 million for acquisitions, net of $80 million in proceeds from the sale of our remaining investment in S.P. Richards and other investments. We also used $599 million in cash for financing activities, including $393 million for quarterly dividends paid to shareholders and $172 million for stock repurchases. Free cash flow was $733 million for the first nine months of 2023. Refer to the reconciliation of GAAP net cash provided by operating activities to free cash flow for more information. The company ended the quarter with $2.2 billion in total liquidity, consisting of $1.5 billion availability on the revolving credit facility and $655 million in cash and cash equivalents. 2023 Outlook The company is updating full-year 2023 guidance previously provided in its earnings release on July 20, 2023. The company considered its recent business trends and financial results, current growth plans, strategic initiatives, global economic outlook, geopolitical conflicts and the potential impact on results in updating its guidance, which is outlined in the table below. View the full article
  4. ATLANTA, Oct. 2, 2023 /PRNewswire/ -- Genuine Parts Company (NYSE: GPC), a leading global distributor of automotive and industrial replacement parts, announced today that it has published its 2023 Sustainability Report. The new report highlights GPC's approach to sustainability that looks inward to global operations and outward to how the company helps improve its vast network that includes teammates, suppliers, customers, communities and investors. "At GPC, we embrace our role in the global sustainable economy," said Paul Donahue, chairman and chief executive officer. "We are proud to share GPC's 2023 Sustainability Report, which highlights our work as One GPC Team to make significant progress on our environmental, social and governance initiatives. Thank you to our teammates, partners and suppliers who strive for excellence every day and deliver exceptional service for our customers and the communities in which we work and live." VIEW THE REPORT HERE: www.genpt.com/sustainability About Genuine Parts Company Founded in 1928, Genuine Parts Company is a global service organization engaged in the distribution of automotive and industrial replacement parts. The company's Automotive Parts Group distributes automotive replacement parts in the U.S., Canada, Mexico, Australasia, France, the U.K., Ireland, Germany, Poland, the Netherlands, Belgium, Spain and Portugal. The company's Industrial Parts Group distributes industrial replacement parts in the U.S., Canada, Mexico and Australasia. In total, the company serves its global customers from an extensive network of more than 10,000 locations in 17 countries and has approximately 58,000 employees. Further information is available at www.genpt.com. SOURCE Genuine Parts Company For further information: CONTACTS: Investor Contact: Tim Walsh, 678.934.5349, Senior Director - Investor Relations; Media Contact: Heather Ross, 678.934.5220, Vice President - Strategic Communications View the full article
  5. ATLANTA, Sept. 28, 2023 /PRNewswire/ -- Genuine Parts Company (NYSE: GPC), a leading global distributor of automotive and industrial replacement parts, plans to release third quarter financial results on October 19, 2023. Management will also conduct a conference call on this date at 11:00 a.m. ET. The public may access the webcast and supplemental earnings materials on the company's investor relations website. The call is also available by dialing 888-317-6003. The conference ID is 9754822. A replay of the call will be available on the company's website or toll-free at 877-344-7529, ID 7086770, two hours after the completion of the conference call. About Genuine Parts Company Founded in 1928, Genuine Parts Company is a global service organization engaged in the distribution of automotive and industrial replacement parts. The company's Automotive Parts Group distributes automotive replacement parts in the U.S., Canada, Mexico, Australasia, France, the U.K., Ireland, Germany, Poland, the Netherlands, Belgium, Spain and Portugal. The company's Industrial Parts Group distributes industrial replacement parts in the U.S., Canada, Mexico and Australasia. In total, the company serves its global customers from an extensive network of more than 10,000 locations in 17 countries and has approximately 58,000 employees. Further information is available at www.genpt.com. SOURCE Genuine Parts Company For further information: Investor contact: Tim Walsh, (678) 934-5349, Senior Director - Investor Relations; Media contact: Heather Ross, (678) 934-5220, Vice President - Strategic Communications View the full article
  6. ATLANTA, Aug. 22, 2023 /PRNewswire/ -- Genuine Parts Company (NYSE: GPC), a leading global distributor of automotive and industrial replacement parts, announced today that Bert Nappier, EVP & CFO, will present at the Goldman Sachs Global Retailing Conference at 1:10 p.m. ET on Tuesday, September 12, 2023. The presentation will be webcast live on the company's investor relations website. A replay of the webcast will be available after the event. About Genuine Parts Company Founded in 1928, Genuine Parts Company is a global service organization engaged in the distribution of automotive and industrial replacement parts. The company's Automotive Parts Group distributes automotive replacement parts in the U.S., Canada, Mexico, Australasia, France, the U.K., Ireland, Germany, Poland, the Netherlands, Belgium, Spain and Portugal. The company's Industrial Parts Group distributes industrial replacement parts in the U.S., Canada, Mexico and Australasia. In total, the company serves its global customers from an extensive network of more than 10,000 locations in 17 countries and has approximately 58,000 employees. Further information is available at www.genpt.com. Investor Contact: Media Contact: Tim Walsh (678) 934-5349 Heather Ross (678) 934-5220 Senior Director - Investor Relations Vice President - Strategic Communications SOURCE Genuine Parts Company View the full article

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