-
Welcome to Auto Parts Forum
Whether you are a veteran automotive parts guru or just someone looking for some quick auto parts advice, register today and start a new topic in our forum. Registration is free and you can even sign up with social network platforms such as Facebook, X, and LinkedIn.
Torque Pro (OBD 2 & Car) v1.12.100 Pro Full
-
Similar Topics
-
-
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.
link hidden, please login to view -
By Counterman
The Lisle 61860 torque adapter turns any 3/8″ drive ratchet or breaker bar into a 25 Newton-meter torque wrench, helping to prevent over tightening of plastic and aluminum oil filter canisters and filters.
link hidden, please login to view The 61860 torque adapter can also be used with a 21mm socket or wrench. Not for use with impact or pneumatic wrenches.
For more information:
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 -
By NAPA
Is your car not shifting gears like it used to? An automatic transmission makes driving much less complicated than the manual gear (stick shift) alternative. But that convenience comes at the price of complexity. When an automatic transmission equipped car won’t shift gears, there could be several potential issues. These issues can range from a simple fix to needing a complete transmission rebuild. Below is technical expertise on “Why is my automatic car not shifting gears?”
Low Transmission Fluid link hidden, please login to view
Your automatic transmission relies on hydraulic fluid pressure to operate. The pump pulls
link hidden, please login to view from the transmission pan reservoir to actuate different components. If the transmission fluid level gets low enough, the pump will be unable to push fluid where it needs to go. Even worse, the pump will pull air into the system, which could lead to a lack of lubrication that damages parts. If you are lucky, your vehicle has a transmission fluid dipstick so you can easily check the fluid level according to the instructions in the owner’s manual. If your vehicle does not have a transmission fluid dipstick but is “
link hidden, please login to view”, that doesn’t prevent you from checking the fluid level. In most cases, the fluid can be checked via a fill plug, but the transmission has to be at a certain temperature and the vehicle must be level. This isn’t an easy task, so it might be best to have your local link hidden, please login to view do it for you. Faulty Shift Solenoid
We just mentioned how an automatic transmission relies on pressurized fluid to operate, but that fluid also needs to be routed to where it is needed. In a modern, electronically controlled automatic transmission, shift solenoids control the flow of transmission fluid. If the shift solenoid is faulty, then the fluid won’t be routed to the desired shift actuator. In older non-electronically controlled transmissions, shifting was controlled by shift valves, but the idea is the same. Shift solenoids can wear out or get stuck, leading to a no-shift condition. Fixing a faulty shift solenoid usually requires removing the transmission fluid pan to access the transmission valve body.
Low Transmission Fluid Pressure
You should be seeing a pattern of how important hydraulic fluid is to the operation of an automatic transmission. If the transmission fluid level is fine, there may still be a problem with the fluid pressure. Low fluid pressure can be caused by a worn out pump, clogged fluid passages or a clogged transmission fluid filter. A lack of shifting car gears due to low fluid pressure usually means it is time for a
link hidden, please login to view. If the problem is with the pump itself, then you are probably looking at a transmission rebuild. Bad Transmission Control Module
Most modern automatic transmissions have an electronic
link hidden, please login to view (TCM). The control module takes input from various sensors, and decides how the transmission should react. Depending on where the control module is mounted, it can lead a very hard life. Extreme temperatures, vibrations, leaking fluids and sometimes even how the circuit board is built can all lead to failures of microchips and other electronic components. If the check engine light is on while you are having shifting problems, the TCM may be the issue. Broken Shift Cable
Each time you drive, the shifter is moved at least twice, once for driving and again for park. That movement adds up over the years. While an automatic transmission doesn’t have the complicated shifting mechanism of a manual transmission, there is usually a physical connection between the shifter and the transmission. Modern
link hidden, please login to view usually have plastic components that can break down over time. There may also be bushings that get worn out. The shift cable itself is usually metal and rarely breaks, but the pieces connecting it to the transmission can possibly fail. Shift Lock Engaged
If the car is not shifting into gear from park, then the issue might be the gear shift interlock. Most modern vehicles have a lockout on the automatic gear shifter that requires the brake pedal to be pressed first. If the brake pedal isn’t pressed, the shifter won’t move. It is possible that the brake pedal sensor doesn’t read that the pedal is pressed, or a break in the shift interlock circuit interrupts the connection. The shift lock can be
link hidden, please login to view. Worn Out Bands
Just like how brake pads can wear out, so can the friction materials inside the transmission like the bands. Transmission bands hold certain components in place, while others are allowed to rotate. When this happens, the transmission won’t go into certain gears. Unfortunately worn out bands usually mean a complete transmission overhaul. Material from the worn out bands can make their way into sensitive fluid passages, clogging them or causing accelerated wear
Failed Throttle Sensor
This one may seem odd, but gauging how much throttle input the driver is giving makes a big difference in how the transmission acts. Whether the input is from a
link hidden, please login to view or a cable, if the driver pushes down the gas pedal, the transmission needs to change gears. But if that input isn’t received, the transmission has no idea what the driver wants to do. If the transmission doesn’t know the driver is hitting the gas, it might not shift into the next gear. Even worse, on some older transmissions, if the transmission isn’t linked correctly to the throttle input, severe damage can be done. If your transmission isn’t shifting like it used to, simply head to your local
link hidden, please login to view center. Our team of ASE-certified technicians have the expertise and training to diagnose your automatic transmission issues. As a bonus, your repair is covered by our free 24-Month/24,000-Mile link hidden, please login to view (parts and labor on qualifying repairs and services), which spans across the entire nationwide NAPA Network, including 17,000+ NAPA Auto Care center locations. Photos courtesy of
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 
-
By Counterman
Applications are being accepted for the Federated Car Care Scholarship program.
Interested students should complete and submit their applications at
link hidden, please login to view by March 31. The Federated Car Care scholarships are funded by Fisher Auto Parts in memory of Art Fisher, founder of Federated Auto Parts and the Federated Car Care program. Qualified candidates should specify “Federated” on their application when applying online.
Administered by the University of the Aftermarket Foundation (
link hidden, please login to view), the scholarships will be awarded to employees and children of active Federated Car Care Center members attending a two- or four-year accredited college, an ASE/NATEF-certified post-secondary automotive, heavy-duty or collision technician training program or any licensed and accredited vocational school. Students graduating from high school in 2024 and heading to any of these post-secondary programs also are eligible. “It is a privilege for us to once again provide scholarship opportunities to the children and employees of Car Care members, assisting them in furthering their education,” said Bo Fisher, chairman and CEO of Fisher Auto Parts. “The University of the Aftermarket Foundation’s AutomotiveScholarships.com website streamlines the application process. We urge all interested candidates to submit their applications by March 31 and look forward to awarding Federated Car Care scholarships to another group of deserving young men and women for the 2024-25 academic year.”
Federated is one of more than 30 other organizations awarding scholarships on
link hidden, please login to view. As an added benefit for students who apply at this site, each completed application will be considered by every scholarship where the candidate meets the qualifications. The post
link hidden, please login to view appeared first on link hidden, please login to view.
link hidden, please login to view
-
Recommended Posts
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.