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LKQ Corporation to Release Second Quarter 2020 Results on Thursday, July 30, 2020


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    • By NAPA
      ATLANTA, April 18, 2024 /
      link hidden, please login to view/ -- Genuine Parts Company (NYSE: GPC), a leading global distributor of automotive and industrial replacement parts, announced today its results for the first quarter ended March 31, 2024. "Our performance in the quarter highlights the value of our business mix paired with our geographic diversity as our teams delivered profits that were ahead of our expectations," said Paul Donahue, Chairman and Chief Executive Officer. "We did this by staying focused on both our near- and long-term strategic initiatives to improve our business and drive profitable growth. I want to take a moment to thank our GPC teammates across the globe for their hard work and dedication to delivering value for our customers."
      First Quarter 2024 Results
      Sales were $5.8 billion, a 0.3% increase compared to $5.8 billion in the same period of the prior year. The sales result is attributable to a 1.9% benefit from acquisitions, offset by a 0.9% decrease in comparable sales and 0.7% unfavorable impact of foreign currency and other.
      Net income was $249 million, or $1.78 per diluted earnings per share. This compares to net income of $304 million, or $2.14 per diluted share in the prior year period.
      Adjusted net income, which excludes a net expense of $62 million after tax adjustments, or $0.44 per diluted share, in non-recurring costs related to our global restructuring, was $311 million. This compares to net income of $304 million for the same three-month period of the prior year, an increase of 2.3%. On a per share diluted basis, adjusted net income was $2.22, an increase of 3.7% compared to diluted earnings per share of $2.14 last year. Refer to the reconciliation of GAAP net income to adjusted net income and GAAP diluted earnings per share to adjusted diluted earnings per share for more information.
      First Quarter 2024 Segment Highlights
      Automotive Parts Group ("Automotive")
      Global Automotive sales were $3.6 billion, up 1.9% from the same period in 2023, reflecting a 0.2% increase in comparable sales and a 2.8% benefit from acquisitions, partially offset by 1.1% unfavorable impact of foreign currency and other. Segment profit of $273 million increased 3.2%, with segment profit margin of 7.6%, up 10 basis points from last year.
      Industrial Parts Group ("Industrial")
      Industrial sales were $2.2 billion, down 2.2% from the same period in 2023, with a 0.5% benefit from acquisitions, offset by a 2.6% decrease in comparable sales and 0.1% unfavorable impact of foreign currency. Segment profit of $271 million increased 3.4%, with segment profit margin of 12.3%, up 70 basis points from the same period of the prior year.
      "We are pleased with the start to 2024, which was highlighted by operating discipline that delivered improved overall earnings against a backdrop of low sales growth," said Will Stengel, President and Chief Operating Officer. "In Industrial, sales decreased low-single-digits, in-line with our expectations, as we were up against our most difficult comparative period for the year. In Automotive, the actions taken in our U.S. Automotive business are gaining traction, and we are encouraged by the sequential improvement in performance. This improvement, coupled with the solid performance of our other businesses, is reflected in our reaffirmed sales growth and improved earnings outlook for 2024."
      Balance Sheet, Cash Flow and Capital Allocation
      The company generated cash flow from operations of $318 million for the first three months of 2024. We used $178 million in cash for investing activities, including $116 million for capital expenditures and $135 million for M&A. We also used $175 million in cash for financing activities, including $133 million for quarterly dividends paid to shareholders and $38 million for stock repurchases. Free cash flow was $203 million for the first three months of 2024. 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 $2.5 billion in total liquidity, consisting of $1.5 billion availability on the revolving credit facility and $1.0 billion in cash and cash equivalents.
      2024 Outlook
      The company is updating full-year 2024 guidance previously provided in its earnings release on February 15, 2024. 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.

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    • By NAPA
      Christian Eckes orchestrated complete dominance at Martinsville Speedway by sweeping both stages en route to his second victory of the season on Friday night. The driver of the No. 19 Adaptive One Calipers Chevrolet Silverado RST scored the maximum 60 points and pocketed seven playoff points to make a massive swing in the NASCAR CRAFTSMAN Truck Series point standings. He gained two positions to fourth in the standings and is only 11 markers out of the lead.
      Eckes displayed considerable pace by positing the third-quickest lap in practice and qualified on the outside of the front row on Friday afternoon. He made a statement at the drop of the green flag by using the outside lane to take the lead on the initial start. During the first 50-lap stage, Eckes methodically paced the field and asserted his dominance. Following a restart on lap 37, Eckes pulled away to comfortably take the Stage 1 win along with 10 points and one playoff bonus point.
      Crew chief Charles Denike kept Eckes on track to maintain the No. 19 team’s track position and set up a one-stop strategy. Eckes picked up where he left off in Stage 1 on the lap 61 restart. He jumped out to another quick lead and cleanly executed two additional restarts during the second stage to tally 10 points and a second playoff bonus point for leading at lap 100. Under the ensuing stage caution, Denike brought Eckes to pit road for his only four-tire pit stop of the evening and made a minor air pressure adjustment.
      As several trucks stayed on track with alternative pit strategies, Eckes lined up 19th on lap 110. During the second half of the race, Eckes conducted a masterclass in slicing through traffic. It only took him 11 laps to crack the top-10 and was back inside the top five by lap 142. On lap 165, Eckes arrived on the doorstep of the lead and took the runner-up position. Shortly thereafter, he reclaimed the lead with a power move on the outside for the second time on the night. Two cautions over the final 23 laps forced Eckes to execute crucial restarts to defend the race lead, which he did with complete authority. He led the final three-lap dash to the checkered flag and captured his first Martinsville win and grandfather clock by a margin of 0.64 seconds.
      “Something really special,” Eckes said of the victory. “It hasn’t been an easy regular season so far, to say the least. We came here and we weren’t that great last year, maybe a sixth-place truck. We worked really hard on it and here we are in victory lane. So, just super proud of everyone on this team. Huge thanks to Adaptive One Calipers, NAPA Auto Care, Gates Hydraulics, all of our partners, and Chevrolet. It’s a good day to be in victory lane. Can’t wait for that clock!”
      Start / Finish: 2 / 1
      Points Standing / Total: 4th / 237 pts. (-11)
      Next Race: Friday, April 12, Texas Motor Speedway
      How to Watch or Listen: 8:30 p.m. ET on FS1, MRN or SiriusXM
      NAPA: 
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    • By OReilly Auto Parts
      SPRINGFIELD, Mo., April 01, 2024 (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 first quarter 2024 results as Wednesday, April 24, 2024, with a conference call to follow on Thursday, April 25, 2024.
      The Company’s first quarter 2024 results will be released after 3:30 p.m. Central Time on Wednesday, April 24, 2024, and can be viewed, at that time, on the Company’s website at  link hidden, please login to view by clicking on “Investor Relations” and then “News Room.”
      Investors are invited to listen to the Company’s conference call discussing the financial results for the first quarter of 2024, on Thursday, April 25, 2024, at 10:00 a.m. Central Time, via webcast on the Company’s website at  link hidden, please login to view by clicking on “Investor Relations” and then “News Room.” Interested analysts are invited to join the call. The dial-in number for the call is (888) 506-0062 and the conference call identification number is 193896. A replay of the conference call will be available on the Company’s website through April 24, 2025.
      About O’Reilly Automotive, Inc.
      O’Reilly Automotive, Inc. was founded in 1957 by the O’Reilly family and is one of the largest specialty retailers of automotive aftermarket parts, tools, supplies, equipment, and accessories in the United States, serving both the do-it-yourself and professional service provider markets. Visit the Company’s website at  link hidden, please login to view for additional information about O’Reilly, including access to online shopping and current promotions, store locations, hours and services, employment opportunities, and other programs. As of December 31, 2023, the Company operated 6,157 stores across 48 U.S. states, Puerto Rico, and Mexico.
       
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    • By NAPA
      ATLANTA, March 28, 2024 /
      link hidden, please login to view/ -- Genuine Parts Company (NYSE: GPC), a leading global distributor of automotive and industrial replacement parts, plans to release first quarter financial results on April 18, 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  link hidden, please login to view. 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 28852#, two hours after completion of the conference call. About Genuine Parts Company
      Established in 1928, Genuine Parts Company is a leading global service organization specializing in the distribution of automotive and industrial replacement parts. Our Automotive Parts Group operates across the U.S., Canada, Mexico, Australasia, France, the U.K., Ireland, Germany, Poland, the Netherlands, Belgium, Spain and Portugal, while our Industrial Parts Group serves customers in the U.S., Canada, Mexico and Australasia. We keep the world moving with a vast network of over 10,700 locations spanning 17 countries supported by more than 60,000 teammates. Learn more at 
      link hidden, please login to view. 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
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    • A-premium Auto Parts:5% OFF with Code GM5.
    • By NAPA
      Christian Eckes put on a furious rally on an overtime restart to capture an eighth-place finish on Saturday afternoon at Circuit of the Americas (COTA). The driver of the No. 19
      link hidden, please login to view Chevrolet Silverado RST had an eventful, up-and-down afternoon but showcased his resilience by rebounding from two penalties to record his second top-10 result at COTA. After qualifying 10th on Friday afternoon, Eckes was forced to start at the tail of the field after the NAPA Auto Care team changed transmissions before the race. The New Yorker was undeterred by starting shotgun and rocketed to 14th on the opening lap. An early caution on lap three helped Eckes continue his rapid run to the front on a lap six restart when he cracked the top 10. He maintained his top-five position at the end of Stage 1 on lap 12 to collect six points in fifth position.
      Crew chief Charles Denike brought Eckes to pit road for four tires, fuel, and a small adjustment under the first stage caution. Eckes restarted 11th on lap 15 as several trucks stayed on track. He immediately climbed into fifth on lap 18 and took advantage of an impending caution to pit on lap 21 before the yellow flag flew. However, Eckes was nabbed with a penalty for exceeding track limits and was sent to the tail of the field. He restarted 23rd on lap 24 and hustled his way to close Stage 2 in 12th on lap 26.
      During the second stage caution, Eckes stayed on track to inherit track position and restarted eighth on lap 29. While running sixth on lap 30, Eckes incurred another track limit violation and ran 26th after serving the penalty under green. With the aid of a caution on lap 38, he restarted 10th on lap 40, but spun at the top of Turn 1 on lap 41. Denike and the NAPA Auto Care team gave Eckes four tires for the two-lap overtime as he restarted 22nd on lap 45 with two laps to go. As the OT green flag dropped, Eckes went on an all-out rampage, slicing through the field in the final two laps to take the checkered flag in eighth position.
      “We came from the back at least four times today and felt like we were a top-three truck,” Eckes said. “Our NAPA Auto Care Chevrolet was pretty well balanced but just had too many mistakes on my part. Our team did a great job responding from it to get back to eighth at the end.”
      Start / Finish: 10 / 8
      Points Standing / Total: 6th / 177 pts. (-30)
      Next Race: Friday, April 15, Martinsville Speedway
      How to Watch or Listen: FS1, MRN or SiriusXM
      NAPA: 
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      Bill McAnally Racing / McAnally-Hilgemann Racing:  link hidden, please login to view The post
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