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Auto-Wares Recognizes Valvoline as Supplier of the Year
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By Counterman
link hidden, please login to view and link hidden, please login to viewhave declared Avery Breneman of Blackfoot, ID, the 2024 Technician of the Year. Breneman is the owner of Avery’s Auto Repair, a Bumper to Bumper Certified Service Center and customer of NPW Companies. Breneman was named the winner during Auto Value and Bumper to Bumper’s Technician of the Year program in Detroit, Michigan, this July. “This recognition is humbling. I deeply appreciate the experience and I am proud to be the 2024 Technician of the Year Champion. The support from Auto Value and Bumper to Bumper has been incredible. I want to thank NPW and our sales rep, Hoss Prestwich, for encouraging me to compete,” said Breneman.
Sixteen top technicians from across the United States and Canada traveled to Detroit to participate in the 2024 Auto Value and Bumper to Bumper Technician of the Year finalist competition. Sponsored by DRiV and Garage Gurus, the annual competition included a custom Automotive Service Excellence examination as well as a series of Garage Gurus’ hands-on skills tests.
“With over 3,700 Certified Service Centers within the Auto Value & Bumper to Bumper network, becoming a technician of the year finalist is no easy task,” said JC Washbish, president at the Aftermarket Auto Parts Alliance, Inc. “The goal of this program is to recognize top technician talent within the industry, bring honor to the trades, and highlight the skills required to be a top tech. This year’s competition did not disappoint. We had a wonderful group of Auto Value and Bumper to Bumper technicians! We’d like to thank DRiV and Garage Gurus for their continued support of this fantastic event.”
The technician finalists were treated to a variety of entertainment and experiences in Metro Detroit including a day at the Henry Ford Museum and Greenfield Village, a tour of the Ford Rouge Factory, racing at the Champion® Motor Speedway in the M1 Concourse and the luxury of a suite at Comerica Park for a Detroit Tigers’ game.
“For Auto Value and Bumper to Bumper to once again partner with Garage Gurus on the technician of the year event is fantastic. The opportunity for our team to interact with top technicians from the certified service center network while representing our Champion, Fel-Pro, Moog, Monroe, Walker, Wagner and Garage Gurus brands is special,” said Mike Hinderer, technical product specialist field manager with Garage Gurus. “To the professional technicians in the industry, we are here, we see you and we support you.”
DRiV and Garage Gurus have been the host sponsor of the Auto Value and Bumper to Bumper Technician of the Year event since 2019.
“Our team at DRiV is very proud of our continued sponsorship and support of the Auto Value and Bumper to Bumper Technician of the Year program,” says Tony Genna, vice president North America sales at DRiV. “Hosting these extremely talented technicians from across North America is really something special and we are always appreciative of our time together. A program like this is important for our industry and no one does it better than the team at Auto Value and Bumper to Bumper.”
The 2024 Auto Value and Bumper to Bumper Technician of the Year Finalists include:
Scott Anderson; Canyon Meadows Auto Repair; Calgary, Alberta, Canada; Central Auto Parts Sean Blakeley; First Choice Automotive Repair; Killeen, TX; 4M Parts Warehouse Rafael Borja; Robertson Automotive; Tyler, TX; ABC Auto Parts Avery Breneman; Avery Auto; Blackfoot, ID; National Performance Warehouse Jeremiah Clark; Clarks Auto Repair and Service; Pleasureville, KY; Moog Louisville Warehouse Bim Gill; Gills Service Center; Harpersville, AL; National Performance Warehouse Michael Golda; Kerners Auto Service; Shelby Township, MI; Auto-Wares Group of Companies Jake Fehr; Chad’s Auto Repair Shop; Winkler, Manitoba, Canada; Piston Ring Service John Kincaid; Grainger Automotive; Bean Station, TN; Hahn Automotive Warehouse Brandon Osman; Square Deal Garage; Pinole, CA; Trimon, Inc. Mike Powers; Joe’s Garage; North Little Rock, AR; Parts Warehouse, Inc. Ryan Radtke; Village Mobil; Waunakee, WI; Automotive Parts Headquarters Inc. Matthew Reitmeier; Travel Care Regina Ltd; Regina, Saskatchewan, Canada; Auto Electric Service Rob Richardson; Maclane’s Automotive; Downingtown, PA; Eastern Warehouse Distributor, LLC Stephen “Chris” Scott; Accelerated Auto Service; Bennington, NE; The Merrill Company Doug Smith; Telle Tire and Automotive; St. Louis, MO; All Car Automotive Warehouse, Inc. The post
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By NAPA
ATLANTA, July 23, 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 second quarter ended June 30, 2024. "I want to thank each of our global GPC teammates for their hard work and dedication to serving our customers," said Will Stengel, President and Chief Executive Officer. "Our quarterly results reflect softer than expected market conditions, which are tempering demand particularly in our Industrial and U.S. and European Automotive businesses. Despite a challenging macro-environment, our teams are operating well and remain focused on executing our long-term strategic initiatives."
Second Quarter 2024 Results
Sales were $6.0 billion, a 0.8% increase compared to $5.9 billion in the same period of the prior year. The sales result is attributable to a 2.2% benefit from acquisitions, partially offset by a 0.9% decrease in comparable sales and 0.5% unfavorable impact of foreign currency and other.
Net income was $296 million, or $2.11 per diluted earnings per share. This compares to net income of $344 million, or $2.44 per diluted share in the prior year period.
Adjusted net income was $342 million which excludes a net expense of $46 million of after tax adjustments, or $0.33 per diluted share, in costs related to our global restructuring initiative and the acquisition of Motor Parts and Equipment Corporation. This compares to net income of $344 million for the same three-month period of the prior year, a decrease of 0.9%. On a per share diluted basis, adjusted net income was $2.44, in-line with the same period of the prior 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.
Second Quarter 2024 Segment Highlights
Automotive Parts Group ("Automotive")
Global Automotive sales were $3.7 billion, up 2.0% from the same period in 2023, reflecting a 3.1% benefit from acquisitions, partially offset by a 0.6% decrease in comparable sales and 0.5% unfavorable impact of foreign currency and other. Segment profit of $314 million decreased 4.7%, with segment profit margin of 8.4%, down 60 basis points from last year.
Industrial Parts Group ("Industrial")
Industrial sales were $2.2 billion, down 1.1% from the same period in 2023, with a 0.7% benefit from acquisitions, offset by a 1.6% decrease in comparable sales and 0.2% unfavorable impact of foreign currency. Segment profit of $277 million decreased 2.3%, with segment profit margin of 12.4%, down 10 basis points from the same period of the prior year.
Six Months 2024 Results
Sales for the six months ended June 30, 2024 were $11.7 billion, up 0.6% from the same period in 2023. Net income for the six months was $544 million, or $3.89 per diluted share, compared to $4.58 per diluted share in the prior year period. Adjusted net income increased 0.6% to $652 million in the first half of 2024 compared to net income of $648 million in the prior year period. Adjusted diluted earnings per share was $4.66 compared to $4.58 in the prior year period, an increase of 1.7%.
Balance Sheet, Cash Flow and Capital Allocation
The company generated cash flow from operations of $612 million for the first six months of 2024. Net cash used in investing activities was $762 million, including $259 million for capital expenditures and $580 million for M&A. The company also used $382 million in cash for financing activities, including $272 million for quarterly dividends paid to shareholders and $75 million for stock repurchases. Free cash flow was $353 million for the first six 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 $2.0 billion of total liquidity. Total liquidity comprises of $555 million in cash and cash equivalents and $1.4 billion of our $1.5 billion revolving credit facility available after the effect of $100 million of commercial paper outstanding as of June 30, 2024.
2024 Outlook
The company is revising full-year 2024 guidance previously provided in its earnings release on April 18, 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.
For the Year Ending December 31, 2024
Previous Outlook
Updated Outlook
Total sales growth
3% to 5%
1% to 3%
Automotive sales growth
2% to 4%
1% to 3%
Industrial sales growth
3% to 5%
0% to 2%
Diluted earnings per share
$9.05 to $9.20
$8.55 to $8.75
Adjusted diluted earnings per share
$9.80 to $9.95
$9.30 to $9.50
Effective tax rate
Approximately 24%
Approximately 24%
Net cash provided by operating activities
$1.3 billion to $1.5 billion
$1.3 billion to $1.5 billion
Free cash flow
$800 million to $1.0 billion
$800 million to $1.0 billion
Non-GAAP Information
This release contains certain financial information not derived in accordance with United States ("U.S.") generally accepted accounting principles ("GAAP"). These items include adjusted net income, adjusted diluted earnings per share and free cash flow. We believe that the presentation of adjusted net income, adjusted diluted earnings per share and free cash flow, when considered together with the corresponding GAAP financial measures and the reconciliations to those measures, provide meaningful supplemental information to both management and investors that is indicative of our core operations. We considered these metrics useful to investors because they provide greater transparency into management's view and assessment of our ongoing operating performance by removing items management believes are not representative of our operations and may distort our longer-term operating trends. For example, for the three and six months ended June 30, 2024, adjusted net income and adjusted diluted earnings per share exclude costs relating to our global restructuring initiative and acquisition of Motor Parts and Equipment Corporation, which are one-time events that do not recur in the ordinary course of our business. We believe these measures are useful and enhance the comparability of our results from period to period and with our competitors, as well as show ongoing results from operations distinct from items that are infrequent or not associated with our core operations. We do not, nor do we suggest investors should, consider such non-GAAP financial measures as superior to, in isolation from, or as a substitute for, GAAP financial information. We have included a reconciliation of this additional information to the most comparable GAAP measure following the financial statements below. We do not provide forward-looking guidance for certain financial measures on a GAAP basis because we are unable to predict certain items contained in the GAAP measures without unreasonable efforts. These items may include acquisition-related costs, litigation charges or settlements, impairment charges, and certain other unusual adjustments.
Comparable Sales
Comparable sales is a key metric that refers to period-over-period comparisons of our sales excluding the impact of acquisitions, foreign currency and other. Our calculation of comparable sales is computed using total business days for the period. The company considers this metric useful to investors because it provides greater transparency into management's view and assessment of the company's core ongoing operations. This is a metric that is widely used by analysts, investors and competitors in our industry, although our calculation of the metric may not be comparable to similar measures disclosed by other companies, because not all companies and analysts calculate this metric in the same manner.
Conference Call
Genuine Parts Company will hold a conference call today at 8:30 a.m. Eastern Time to discuss the results of the quarter. A supplemental earnings deck will also be available for reference. Interested parties may listen to the call and view the supplemental earnings deck on the
link hidden, please login to view. The call is also available by dialing 800-836-8184. A replay of the call will be available on the company's website or toll-free at 888-660-6345, conference ID 93997#, two hours after the completion of the 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. Forward-Looking Statements
Some statements in this release, as well as in other materials we file with the Securities and Exchange Commission (SEC), release to the public, or 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. All statements in the future tense and all statements accompanied by words such as "expect," "likely," "outlook," "forecast," "preliminary," "would," "could," "should," "position," "will," "project," "intend," "plan," "on track," "anticipate," "to come," "may," "possible," "assume," or similar expressions are intended to identify such forward-looking statements. These forward-looking statements include our view of business and economic trends for the remainder of the year, our expectations regarding our ability to capitalize on these business and economic trends and to execute our strategic priorities, and the revised full-year 2024 financial guidance provided above. Senior officers may also make verbal statements to analysts, investors, the media and others that are forward-looking.
We caution you that all 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, changes in general economic conditions, including unemployment, inflation (including the impact of tariffs) or deflation, financial institution disruptions and geopolitical conflicts such as the conflict between Russia and Ukraine, the conflict in the Gaza strip and other unrest in the Middle East; volatility in oil prices; significant cost increases, such as rising fuel and freight expenses; public health emergencies, including the effects on the financial health of our business partners and customers, on supply chains and our suppliers, on vehicle miles driven as well as other metrics that affect our business, and on access to capital and liquidity provided by the financial and capital markets; our ability to maintain compliance with our debt covenants; our ability to successfully integrate acquired businesses into our operations and to realize the anticipated synergies and benefits; our ability to successfully implement our business initiatives in our two business segments; slowing demand for our products; the ability to maintain favorable supplier arrangements and relationships; changes in national and international legislation or government regulations or policies, including changes to import tariffs, environmental and social policy, infrastructure programs and privacy legislation, and their impact to us, our suppliers and customers; changes in tax policies; volatile exchange rates; our ability to successfully attract and retain employees in the current labor market; uncertain credit markets and other macroeconomic conditions; competitive product, service and pricing pressures; failure or weakness in our disclosure controls and procedures and internal controls over financial reporting, including as a result of the work from home environment; the uncertainties and costs of litigation; disruptions caused by a failure or breach of our information systems, as well as other risks and uncertainties discussed in our Annual Report on Form 10-K for 2023 and from time to time in our subsequent filings with the SEC.
Forward-looking statements speak only as of the date they are made, and we undertake no duty to update any 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 filed with the SEC.
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By Mia
Maybe you are looking for a stable supplier with high quality and reasonable price that can suitable for your market, look no further, Ketulla is your best choice, Whether you are a new beginner or a small business wholesaler, Ketulla sales team always be here to help you to improve you business. We are a team, let us work together to deal with all matters!
Different Oem Front & Rear Car Brake Pads Formulas Are Built For You
Ketulla offers custom services with 4 different formulas to meet your needs, holding 2351 different pad models that meet 98% of link hidden, please login to view in the world
ECER 90 qualified products Engineered for toughness and high-impact resistance Corrosion- and chemical-resistant backing plate Surface-Smoothly treatment International stardard accessories
Why Choose Us As Your Wholesale brake pads Supplier
Professional brake pads supplier: we are a brake pads factory with running for 24 years.
Quality Management System: We have 6 quality inspectors who check each batch of products against international inspection standards. Click here to learn the Ketulla quality control process.
Automatic Production Lines: Ketulla brake pads factory is equipped with automated production lines to automate various processes to ensure high-quality and low-cost production.
Free brake pads Samples: Provide free brake pads samples for road testing and machine testing to confirm that we meet your requirements.
Click here to get a sample now!
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By Counterman
link hidden, please login to view brought together its global network of suppliers for the bi-annual Global Supplier Event, held earlier this month in Ludwigsburg. Guided by the motto “Transform to Perform – Perform to Transform”, link hidden, please login to viewhighlighted the pivotal role of suppliers in the company’s ongoing journey of transformation and performance excellence, the company said. Over 50 companies from 17 different countries got the opportunity to network and discuss topics around procurement, filtration technologies and execution management. “In this uncertain environment, is more important than ever to stay innovative, competitive, and fast when it comes to strategy execution,” said Hanno Höhn, Chief Procurement Officer at the MANN+HUMMEL Group. “Because only together, we can transform successfully”.
“Our goal is to be at the forefront of advancements, ensuring that we not only keep pace with industry changes but also drive them,” said Kurk Wilks, CEO and President of the MANN+HUMMEL Group. “We thank our suppliers for their commitment to help us meeting our strategic objectives and market demands. Together, we can capitalize on emerging opportunities and drive sustainable growth,”
Supplier Awards 2024
MANN+HUMMEL recognized its top suppliers for their exceptional contributions in various categories:
Partnership: Anhui Zhongding Sealing Group, Atlantic Packaging, Gaubb Industries Corporate Social Responsibility: Envalior Risk Management: Zhejiang Yinlun Machinery Quality: LADESA Logistics: ZALESI Technology: TK Group Commercial Excellence: Hollingsworth & Vose, Wallner Expac, Zhenhan Jiangxi Science and Technology The post
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By Mia
A focus on the customer
At Ketulla, we take pride not only in our products but also in our commitment and dedication. Since our establishment in 2000, we have been dedicated to bringing innovation and high-quality components to the automotive industry, forging close partnerships with customers worldwide.
Through over 20 years of relentless effort, we have collaborated with over 13,200 customers in 32 countries, delivering outstanding products and services. Our market turnover has exceeded 200 million US dollars, serving as a testament to our growth and unwavering commitment to quality and customer satisfaction.
Our brand culture is not only reflected in numbers and achievements but also in our actions and values:
Global Perspective Win-Win Collaboration Continuous Innovation Social Responsibility Behind these achievements and honors, we acknowledge the efforts and dedication of every member of our team. We will continue to prioritize our customers, uphold our belief in exceptional quality, and forge ahead, making greater contributions to the sustainable development of the automotive industry.
Let’s join hands and work together to create a brighter tomorrow!
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Brake Pads Manufacturer
Ketulla is a professional brake pads manufacturer with running for 24 years, We consistently regard product quality as a crucial strategic guideline for our development. We consider our customers as part of our team, striving for excellence in both product quality and service.
Quality Quaranteed
All brake pads quality has passed the American LINK laboratory testing and appraisal, complies with the ECR90 Qualified standard, and has passed the ISO 16949， The production and quality control of all brake pads are strictly in accordance with ECE R90 quality standards. We ensure that we take full responsibility for the quality of all products delivered to our customers.
EOM & ODM Avaliable
Need to order rear brake pads and front brake pads? we offer customization: link hidden, please login to view, link hidden, please login to view, link hidden, please login to view, with different pads brake formula, just send us your order list, we will send you pricelist with our link hidden, please login to view to confirm the details.
Compatable With 98 % Of Vehicles
Ketulla offers you customization for different
link hidden, please login to view, we hold 2351 different brake pad models to meet the 98% of vehicles in the world. Such as Japanese cars, Korean cars, European cars, and Chinese cars.
Professional service is always available for you!
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