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By NAPA
Jack Wood was on track to collect a top-five finish at Kevin Harvick’s Kern County Raceway Park (KCRP) before trouble dealt him a 12th-place finish on Saturday night. The driver of the No. 16
link hidden, please login to view Chevrolet SS was in position to secure a fourth-place finish but suffered a melted right-front tire bead with five laps to go. Wood started on the front row for his second appearance at KCRP after stopping the clock at 18.646 seconds to equal his career-best qualifying effort. He made an early bid for the race lead before settling into second position for the majority of the event’s first half. As the opening 75-lap run progressed, Wood began to battle brake issues and a loose handling condition. The balance hampered his ability to keep pace with the lead and was in fourth position by the halfway caution at lap 75.
Crew chief Kevin Bellicourt and the NAPA Auto Care team made an adjustment during the five-minute halfway break to aid Wood’s handling balance. When the race restarted, Wood took advantage of the outside line to reclaim third position. However, his brake issues escalated in the second half despite running in fourth position. Wood suffered a flat right front tire in the waning laps and was handed a 12th-place finish.
“We had a fast NAPA Auto Care Chevrolet today,” Wood said. “I’m proud of the speed these guys at BMR had in our car. We had a brake issue and I didn’t have much of a pedal before halfway and we got really loose. Kevin (Bellicourt) and the guys made a good adjustment at the halfway break on the balance and we got the car better. But the brake pedal just went to the floor as the night went. We were still in the top five and were going to have a good points night but had a flat right front at the end. It’s unfortunate we didn’t get the result, but happy with the speed we had today.”
Start / Finish: 2 / 12
Points Standing / Total: 7th / 37 pts. (-12)
Next Race: Friday, May 31, Portland International Raceway
How to Watch or Listen: FloRacing
NAPA:
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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 Dorman Products
Repair a Camry touchscreen without replacing the entire infotainment system | Dorman OE FIX 601-711
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By Counterman
Over the past couple of months, MEMA has been building on momentum to try and get the REPAIR Act passed the organization said. Now, it’s announcing the next step in a campaign called the “At Home REPAIR Campaign,” asking aftermarket suppliers to get involved.
“Members of Congress will be back at home frequently in April, May, June, and July. These recesses provide the perfect opportunities to meet with legislators and urge them, face-to-face, to pass the REPAIR Act in 2024,” MEMA said.
MEMA’s goal: Suppliers schedule in-person legislator meetings and facility visits during these recesses to advance the REPAIR Act.
This is after MEMA Aftermarket Suppliers completed their Washington D.C. fly-in to try and build momentum behind the REPAIR Act, also known as H.R. 906.
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By Rade
Hello, does anyone know name of company who put that sticker on goods?
Via that company can order every part from OE for Vw Audi Skoda Seat Bmw Mercedes Porsche Land Rover and same..
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