Jump to content

Need Help Finding the Right Auto Parts? Post Here

GPC Reports 19% Jump In Q1 Sales, Boosts 2022 Guidance

Counterman

By Counterman
in Auto Parts News

 Share

Recommended Posts

Counterman Contributor

Counterman

Posted
Posted

Genuine Parts Co. (GPC) reported first-quarter sales of $5.3 billion, an 18.6% year-over-year increase.

A 12.3% year-over-year increase in comparable sales and an 8.1% benefit from acquisitions contributed to the strong quarter.

“We are pleased with the continued strength in our results to start the year, and we could not be prouder of the hard work by all our 52,000 teammates,” said Paul Donahue, chairman and CEO. “The first quarter was highlighted by new sales records for GPC and our Automotive and Industrial segments, margin expansion and our seventh consecutive quarter of double-digit earnings growth. The GPC team successfully navigated through ongoing supply chain challenges and inflationary pressures at levels we haven’t seen in 40 years.”

Sales in the Automotive Parts Group, which includes NAPA Auto Parts, were $3.3 billion, up 10.9% from the first quarter of 2021. Automotive sales represented 62% of total company revenues.

“”The continued strength in Automotive reflects solid growth across our operations, with 12% and 13% comparable-sales increases in the U.S. and Canada, respectively, and high-single digit comps in Europe and Australasia,” Donahue said. “Additionally, Industrial posted its fourth consecutive quarter of double-digit sales comps, driven by strengthening sales trends throughout the quarter.”

GPC updated its full-year guidance with a more bullish outlook for the year.

GPC now expects overall 2022 sales to grow between 10% and 12%, up from its previous full-year guidance of 9% to 11%. The company expects Automotive sales to grow between 5% and 7%, up from its previous outlook of 4% to %6.

“The increase in our sales and earnings outlook reflects the confidence in our plans for accelerated growth and profitability as we build on the positive momentum in our Automotive and Industrial businesses,” Donahue said. “While cognizant of the many uncertainties in the global economy, we believe GPC is well-positioned with the financial strength and flexibility to support our growth plans and provide for disciplined, value-creating capital allocation while enhancing shareholder value.”

The post

link hidden, please login to view
appeared first on
link hidden, please login to view
.

link hidden, please login to view

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
 Share
Go to topic listing

  • Similar Topics

    • AutoZone
      AutoZone 3rd Quarter Total Company Same Store Sales Increase 3.9%; Domestic Same Store Sales Increase 4.1%; EPS of $38.07
      By AutoZone
      MEMPHIS, Tenn., May 26, 2026 (GLOBE NEWSWIRE) -- AutoZone, Inc. (NYSE: AZO) today reported net sales of $4.8 billion for its third quarter (12 weeks) ended May 9, 2026, an increase of 8.4% from the third quarter of fiscal 2025 (12 weeks). Same store sales, or sales for our domestic and
      link hidden, please login to view
    • Advance Auto Parts
      Advance Auto Parts Reports First Quarter 2026 Results; Reaffirms Full Year 2026 Guidance
      By Advance Auto Parts
      link hidden, please login to view
    • OReilly Auto Parts
      O’Reilly Automotive, Inc. Reports First Quarter 2026 Results
      By OReilly Auto Parts
      SPRINGFIELD, Mo., April 29, 2026 (GLOBE NEWSWIRE) -- O’Reilly Automotive, Inc. (the “Company” or “O’Reilly”) (Nasdaq: ORLY), a leading retailer in the automotive aftermarket industry, today announced record revenue and earnings for its first quarter ended March 31, 2026.

      link hidden, please login to view
    • NAPA
      Genuine Parts Company Reports First Quarter 2026 Results and Reaffirms Full-Year Outlook
      By NAPA
      link hidden, please login to view
    • Government UFO Files
    • Counterman
      AACF Boosts Firebird Sweepstakes Entries with April Giveaway
      By Counterman
      The
      link hidden, please login to view is encouraging industry supporters to participate in its promotional campaign, which combines its ongoing 1969 Pontiac Firebird sweepstakes with a limited-time April giveaway. Throughout April, entrants in the Firebird sweepstakes are automatically entered for a chance to win an Advance Professional Solo Stove Bonfire Fire Pit with Stand. April promotion and giveaway details
      The promotion includes an added incentive: 30% more entries into the Firebird sweepstakes during the campaign period. The flash giveaway winner for the Solo Stove will be selected in early May.
      1969 Pontiac Firebird grand-prize specifications
      The featured grand prize is a restored 1969 Pontiac Firebird finished in Champagne Gold Metallic. It includes a 350-cubic-inch V-8 engine, TH350 automatic transmission, dual exhaust, front power disc brakes, 17-inch Yokohama tires and an updated air conditioning system using R134a refrigerant.
      Mission and entry information
      AACF noted that the April promotion is designed to increase engagement while continuing to raise awareness and support for the foundation’s mission. Participants can enter the sweepstakes online, with proceeds supporting AACF’s efforts to provide financial assistance to automotive aftermarket professionals and their families in times of need.
      For more information or to enter, visit www.aftermarketcharity.org or
      link hidden, please login to view. The post
      link hidden, please login to view appeared first on link hidden, please login to view.
      link hidden, please login to view

×
×
  • Create New...