Auto News

Inenco Group Provides Accretive Industrial Expansion and Opportunities for Synergies Across Businesses View the full article

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SPRINGFIELD, Mo., July 01, 2019 (GLOBE NEWSWIRE) -- O’Reilly Automotive, Inc. (the “Company” or “O’Reilly”) (Nasdaq: ORLY), a leading retailer in the automotive aftermarket industry, announces the release date for its second quarter 2019 results as Wednesday, July 24, 2019, with a conference call to follow on Thursday, July 25, 2019. View the full article

SPRINGFIELD, Mo., July 01, 2019 (GLOBE NEWSWIRE) -- O’Reilly Automotive, Inc. (the “Company” or “O’Reilly”) (Nasdaq: ORLY), a leading retailer in the automotive aftermarket industry, announces the release date for its second quarter 2019 results as Wednesday, July 24, 2019, with a conference call to follow on Thursday, July 25, 2019. View the full article

SPRINGFIELD, Mo., July 01, 2019 (GLOBE NEWSWIRE) -- O’Reilly Automotive, Inc. (the “Company” or “O’Reilly”) (Nasdaq: ORLY), a leading retailer in the automotive aftermarket industry, announces the release date for its second quarter 2019 results as Wednesday, July 24, 2019, with a conference call to follow on Thursday, July 25, 2019. View the full article

SPRINGFIELD, Mo., July 01, 2019 (GLOBE NEWSWIRE) -- O’Reilly Automotive, Inc. (the “Company” or “O’Reilly”) (Nasdaq: ORLY), a leading retailer in the automotive aftermarket industry, announces the release date for its second quarter 2019 results as Wednesday, July 24, 2019, with a conference call to follow on Thursday, July 25, 2019. View the full article

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Alliance Automotive Group Acquires Dutch based PartsPoint Group View the full article

SPRINGFIELD, Mo., May 31, 2019 (GLOBE NEWSWIRE) -- O’Reilly Automotive, Inc. (the “Company” or “O’Reilly”) (Nasdaq: ORLY), a leading retailer in the automotive aftermarket industry, today announced that its Board of Directors approved a resolution to increase the authorization amount under its share repurchase program by an additional $1 billion, raising the aggregate authorization under the program to $12.75 billion. View the full article

SPRINGFIELD, Mo., May 31, 2019 (GLOBE NEWSWIRE) -- O’Reilly Automotive, Inc. (the “Company” or “O’Reilly”) (Nasdaq: ORLY), a leading retailer in the automotive aftermarket industry, today announced that its Board of Directors approved a resolution to increase the authorization amount under its share repurchase program by an additional $1 billion, raising the aggregate authorization under the program to $12.75 billion. View the full article

SPRINGFIELD, Mo., May 31, 2019 (GLOBE NEWSWIRE) -- O’Reilly Automotive, Inc. (the “Company” or “O’Reilly”) (Nasdaq: ORLY), a leading retailer in the automotive aftermarket industry, today announced that its Board of Directors approved a resolution to increase the authorization amount under its share repurchase program by an additional $1 billion, raising the aggregate authorization under the program to $12.75 billion. View the full article

SPRINGFIELD, Mo., May 31, 2019 (GLOBE NEWSWIRE) -- O’Reilly Automotive, Inc. (the “Company” or “O’Reilly”) (Nasdaq: ORLY), a leading retailer in the automotive aftermarket industry, today announced that its Board of Directors approved a resolution to increase the authorization amount under its share repurchase program by an additional $1 billion, raising the aggregate authorization under the program to $12.75 billion. View the full article

More than 5,900 Advance and independently owned Carquest stores participating in the Life is Why We Give campaign throughout June RALEIGH, N.C.--(BUSINESS WIRE)--May 30, 2019-- Advance Auto Parts, Inc. (NYSE: AAP), a leading automotive aftermarket parts provider that serves both professional installer and do-it-yourself customers, is partnering with the American Heart Association to raise funds to fight heart disease at more than 5,900 Advance and independently owned Carquest stores in the U.S. Throughout June, customers will be asked to donate $1, $5 or $10 at checkout as part of the American Heart Association’s “Lif... View the full article

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Improvements designed to help strengthen relationships between shops and customers RALEIGH, N.C.--(BUSINESS WIRE)--May 29, 2019-- Advance Auto Parts, Inc. (NYSE: AAP), a leading automotive aftermarket parts provider that serves both professional installer and do-it-yourself customers, is introducing new benefits and enhanced offerings to TechNet Professional members in 2019. These new benefits and offerings include insurance and affinity benefits, enhancements to the nationwide warranty, digital menu boards, a TireAmerica.com partnership and a TechNet-branded Virtual Vehicle tool. TechNet is a business solution... View the full article

Inenco Group to Provide Accretive Industrial Expansion May 22, 2019 ATLANTA, May 22, 2019 /PRNewswire/ -- Genuine Parts Company (NYSE: GPC) announced today that it has entered into a definitive agreement to acquire the remaining 65% stake of Inenco Group (Inenco), headquartered in Sydney, Australia. The Company previously purchased a 35% stake in Inenco on April 3, 2017, and held the opportunity to acquire the remaining stake at a later date, subject to certain conditions being satisfied. The Company expects to finance the balance of the purchase price using a combination of cash and borrowings. Subject to the satisfaction of customary closing conditions, the acquisition is expected to close on July 1, 2019. Inenco Group, founded in 1954, is one of Australasia's leading industrial distributors of key product categories such as bearings, power transmission and seals. It has more than 160 locations across Australia and New Zealand as well as an emerging presence in Asia and generates estimated annual revenues of approximately $400 million. Paul Donahue, Chairman and Chief Executive Officer of Genuine Parts Company, stated, "We are very pleased to enter the final phase of our Inenco Group acquisition. Given our successful partnership with Inenco over the last two years, we believe that 100% ownership of the company best positions us to participate in the large and growing industrial marketplace in Australasia. Inenco is a market leader with an experienced and talented management team and significant growth potential and makes for a tremendous addition to our global industrial portfolio. We want to welcome the Inenco team to the GPC family, and we look forward to their many future contributions." Roger Jowett, Chief Executive Officer of Inenco, commented, "As we complete the sale of our company, we are excited to join the GPC family and further build on our already strong relationship. The combination of GPC and Inenco is an excellent cultural and strategic fit, and we look forward to growing our business together." Mitchel Martin-Weber, Director of Inenco, added, "On behalf of the Directors, we are delighted for Inenco and its employees to join GPC. The business and people will be in very good hands under GPC's ownership." Forward Looking Statements Some statements in this press release, as well as in other materials we file with the Securities and Exchange Commission ("SEC") or otherwise release to the public and in materials that we make available on our website, constitute forward-looking statements that are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Senior officers may also make verbal statements to analysts, investors, the media and others that are forward-looking. Forward-looking statements may relate, for example, to the anticipated strategic benefits, synergies and other attributes resulting from this and other acquisitions, as well as future operations, prospects, strategies, financial condition, economic performance (including growth and earnings), industry conditions and demand for our products and services. The Company cautions that its forward-looking statements involve risks and uncertainties, and while we believe that our expectations for the future are reasonable in view of currently available information, you are cautioned not to place undue reliance on our forward-looking statements. Actual results or events may differ materially from those indicated as a result of various important factors. Such factors may include, among other things, the Company's ability to successfully integrate Inenco and prior acquisitions into the Company and to realize the anticipated synergies and benefits; changes in the automotive aftermarket or changes in the industrial or business products markets; the Company's ability to successfully implement its business initiatives in each of its three business segments; slowing demand for the Company's products; changes in national and international legislation or government regulations or policies, including new import tariffs and data security policies and requirements; changes in general economic conditions, including unemployment, inflation (including the impact of potential tariffs) or deflation and the United Kingdom's referendum to exit from the European Union, commonly known as Brexit; changes in tax policies; volatile exchange rates; volatility in oil prices; significant cost increases, such as rising fuel and freight expenses; labor shortages; uncertain credit markets and other macroeconomic conditions; competitive product, service and pricing pressures; the ability to maintain favorable vendor arrangements and relationships; disruptions in our vendors' operations, including the impact of tariffs and trade considerations on their operations and output, as required to meet product demand; failure or weakness in our disclosure controls and procedures and internal controls over financial reporting; the uncertainties and costs of litigation; disruptions caused by a failure or breach of the Company's information systems, as well as other risks and uncertainties discussed in the Company's Annual Report on Form 10-K for 2018 and from time to time in the Company's subsequent filings with the SEC. Forward-looking statements are only as of the date they are made, and the Company undertakes no duty to update its forward-looking statements except as required by law. You are advised, however, to review any further disclosures we make on related subjects in our subsequent Forms 10-K, 10-Q, 8-K and other reports to the SEC. About Genuine Parts Company Genuine Parts Company is a distributor of automotive replacement parts in the U.S., Canada, Mexico, Australasia, France, the U.K., Germany and Poland. The Company also distributes industrial replacement parts and electrical specialty materials in the U.S., Canada and Mexico through its Industrial Products Group. S.P. Richards Company, the Business Products Group, distributes a variety of business products in the U.S. and Canada. Genuine Parts Company had 2018 revenues of $18.7 billion. Further information is available at www.genpt.com. About Inenco Group Founded in 1954, Inenco Group is a leading industrial distributor of bearings, power transmission and seals in Australia. Headquartered in Sydney, Australia, Inenco has more than 160 locations with distribution coverage across Australia and New Zealand, as well as an emerging presence in Asia. Inenco offers more than 350,000 products to over 55,000 diverse customers in key end markets, including the mining, manufacturing, agriculture and food and beverage industries. Further information is available at www.inencogroup.com.au. SOURCE Genuine Parts Company For further information: Carol B. Yancey, Executive Vice President and CFO - (678) 934-5044; Sidney G. Jones, Senior Vice President - Investor Relations - (678) 934-5628 View the full article

Net Sales Increased 2.7% to $3.0B; Comparable Store Sales Increased 2.7% Operating Income Increased 4.9% to $207.9M; Adjusted Operating Income Increased 8.7% to $243.6M Diluted EPS Increased 7.6% to $1.98; Adjusted Diluted EPS Increased 17.1% to $2.46 Operating Cash Flow Increased 32.8% to $204.5M; Free Cash Flow Increased 19.9% to $143.2M RALEIGH, N.C.--(BUSINESS WIRE)--May 22, 2019-- Advance Auto Parts, Inc. (NYSE: AAP), a leading automotive aftermarket parts provider in North America, that serves both professional installer and do-it-yourself customers, today announced its financial results for the f... View the full article

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Summer is the perfect time for travels but before you hit the road, it’s best to give your daily driver a quick maintenance check-up to make sure you and your passengers can safely reach your destination. The good news is AutoPartsWarehouse.com has launched a 3-Day Sale for APW Rewards members from May 7-9. During this period, members will exclusively get free bonus points for signing up for an APW Rewards account and for every purchase they make on the Auto Parts Warehouse website. To get free 100 points, all you have to do is to sign-up for APW Rewards – Auto Parts Warehouse’s loyalty program. In addition, every purchase you will make below $200 will automatically get you another free 100 bonus points! Make a purchase above $200 and you’ll earn free 200 bonus points on top of the points you’ll earn equivalent to the dollar value of your order. You can use your earned rewards points to redeem exclusive coupons (up to $100 off on a single order), so you can easily save on future purchases on APW. Now for a quick maintenance check, you may want to look at our guide right here. Make sure your vehicle is roadworthy because the high summer temperatures could end up further damaging a car that has not been maintained for a long time. If you’re trying to save on auto repair and parts purchases, the best way to do it would be to avail of this 3-day promo by APW Rewards. Road trips are fun but only when everyone is safe and comfortable in your car. Your safety and convenience on the road should always be your number one priority. Join APW Rewards today and start earning points and redeeming auto parts store coupons available nowhere else. Visit this page to sign up. The post 3-Day Sale: Huge Discounts for Summer Driving from APW Rewards appeared first on The Auto Parts Warehouse Blog. View the full article

Experienced Finance Executive to Lead Company’s Accounting Function RALEIGH, N.C.--(BUSINESS WIRE)--May 8, 2019-- Advance Auto Parts, Inc. (NYSE: AAP), a leading automotive aftermarket parts provider in North America that serves both professional installer and do-it-yourself customers, today announced that Andrew Page will be appointed Senior Vice President, Controller and Chief Accounting Officer, effective May 13, 2019. In this role, Page will be responsible for enterprise-wide accounting operations, tax, external financial reporting and all related compliance. Page, 49, brings more than 25 years of broad-based acco... View the full article

RALEIGH, N.C.--(BUSINESS WIRE)--Apr. 30, 2019-- Advance Auto Parts, Inc. (NYSE: AAP), a leading automotive aftermarket parts provider in North America that serves both professional installer and do-it-yourself customers, will report its first quarter 2019 results before the market opens on Wednesday, May 22, 2019. Interested parties can listen to the event via a webcast scheduled to begin at 8:00 a.m. Eastern Time on Wednesday, May 22, 2019. The webcast will be accessible via the Investor Relations page of the company’s website (www.AdvanceAutoParts.com). For individuals unable to access the webcast, the event will be ava... View the full article