Welcome to our dedicated page for Genuine Parts Company news (Ticker: GPC), a resource for investors and traders seeking the latest updates and insights on Genuine Parts Company stock.
Genuine Parts Company (GPC), founded in 1928, is a prominent global distributor of automotive and industrial replacement parts. GPC operates through an extensive network of over 10,700 locations across 17 countries, including the United States, Canada, Mexico, Australasia, and several European nations. The company is segmented into two primary divisions: Automotive Parts and Industrial Parts.
The Automotive Parts Group distributes automotive replacement parts to a network of 9,800 retail locations globally, with a significant presence under the NAPA Auto Parts brand. This segment contributes approximately 60% of GPC's total sales, servicing both independent and company-owned stores. The recent acquisition of Motor Parts & Equipment Corporation (MPEC), which operates 181 NAPA Auto Parts stores across Illinois, Indiana, Iowa, Michigan, Minnesota, and Wisconsin, exemplifies GPC's strategic initiative to enhance its market presence in priority regions.
The Industrial Parts Group, primarily operating under the Motion banner, caters to over 200,000 clients including maintenance, repair, and original equipment manufacturers. This segment accounts for about 40% of the company's sales and has been pivotal in GPC achieving twelve consecutive quarters of margin expansion. The segment saw a strong performance with sales of $2.2 billion in the first quarter of 2024, reflecting a strategic focus on operational efficiency and market expansion.
GPC’s financial stability is underscored by its robust performance in the fiscal year, reporting sales of $23.1 billion for the year ending December 31, 2023. This represents a 4.5% increase compared to 2022. The company generated $1.4 billion in cash flow from operations over the same period, ending the year with $2.6 billion in total liquidity. GPC’s ongoing investments in supply chain, technology, and acquisitions, as well as its commitment to returning capital to shareholders through dividends and buybacks, highlight its balanced approach to growth and shareholder value.
Under the leadership of Chairman and CEO Paul Donahue, GPC continues to focus on strategic initiatives such as the One GPC Team approach, which drives productivity and efficiency across global operations. With a team of over 60,000 employees, the company remains dedicated to serving its customers and maintaining its competitive edge through innovation and strategic acquisitions, like the recent purchase of Recambios y Accesorios Gaudí in Spain.
For more information, visit Genuine Parts Company.
Ping Identity announced the winners of its eighth Identity Excellence Awards at the Ping YOUniverse conference, recognizing companies for outstanding achievements in digital identity security. Six major companies were honored across different categories:
DISH Network won Cloud Migration Champion for successful migration to PingOne Advanced Services, serving 46 million customers. Truckstop earned Fraud Reduction Champion for implementing multiple PingOne solutions. Western Union received Migration & Modernization Champion for PingOne implementation.
GPC was named End to End Champion for comprehensive identity management solutions deployment. United Airlines won Customer Experience Champion, while FedEx received Better Together Partner award for implementing Ping Advanced Identity Cloud to enhance customer experience and reduce costs.
Genuine Parts Company (NYSE: GPC), a global provider of automotive and industrial replacement parts, has announced a regular quarterly cash dividend of $1.00 per share on its common stock. The dividend will be paid on January 2, 2025 to shareholders of record as of December 6, 2024. This announcement comes from the company's Board of Directors as part of their regular dividend distribution program.
Genuine Parts Company (NYSE: GPC) reported its Q3 2024 results and revised its full-year outlook. Sales increased 2.5% to $6.0 billion, driven by a 3.2% benefit from acquisitions and a 0.1% favorable impact of foreign currency, partially offset by a 0.8% decrease in comparable sales. Net income was $227 million, or $1.62 per diluted share, compared to $351 million, or $2.49 per diluted share in the prior year period. Adjusted diluted EPS was $1.88.
The company revised its 2024 outlook, now projecting revenue growth of 1% to 2% (down from 1% to 3%) and adjusted diluted EPS of $8.00 to $8.20 (down from $9.30 to $9.50). The revision is primarily due to continued weakness in market conditions in Europe and the Industrial business.
Genuine Parts Company (NYSE: GPC), a global service provider of automotive and industrial replacement parts, has announced that its top executives will be presenting at the Gabelli Funds 48th Annual Automotive Symposium. The presentation is scheduled for Tuesday, November 5, 2024, at 2:00 p.m. ET.
Will Stengel, President & CEO, and Bert Nappier, EVP & CFO, will represent the company at this event. Investors and interested parties can access the live webcast of the presentation through the company's investor relations website. For those unable to attend the live event, a replay of the webcast will be made available after the presentation concludes.
Genuine Parts Company (NYSE: GPC), a global service provider of automotive and industrial replacement parts, has announced its plans to release third quarter 2024 financial results on October 22, 2024. Following the release, the company will host a conference call at 8:30 a.m. ET to discuss the results.
Investors and interested parties can access the webcast and supplemental earnings materials on the company's investor relations website. Additionally, the call will be available via phone by dialing 1-800-836-8184. For those unable to attend the live call, a replay will be available on the company's website or by calling 1-888-660-6345 (ID 72988#) two hours after the conference call concludes.
Genuine Parts Company (NYSE: GPC), a global service provider of automotive and industrial replacement parts, has announced a regular quarterly cash dividend of $1.00 per share on its common stock. The dividend will be payable on October 1, 2024 to shareholders of record as of September 6, 2024. This announcement demonstrates GPC's commitment to returning value to its shareholders and maintaining a consistent dividend policy.
Genuine Parts Company (NYSE: GPC) has announced the appointment of Jenn Hulett as Executive Vice President and Chief People Officer, effective August 19, 2024. Hulett, who joins from Dollar Tree, will oversee GPC's global human resources operations and lead talent and culture initiatives. She replaces Jim Neill, who is retiring but will remain in an advisory role until September 30, 2024 to ensure a smooth transition.
Hulett brings extensive experience from her previous roles at Dollar Tree, Core-Mark, Ericsson, and General Electric. GPC's CEO, Will Stengel, expressed confidence in Hulett's ability to strengthen the company's 'One GPC' approach and contribute to its continued evolution. The company also acknowledged Neill's nearly two-decade tenure and his significant contributions to GPC's culture and work environment.
Genuine Parts Company (NYSE: GPC), a global leader in automotive and industrial replacement parts, announced its participation in the Goldman Sachs 31st Annual Global Retailing Conference. Will Stengel, President & CEO, and Bert Nappier, EVP & CFO, will present on September 5, 2024, at 1:10 p.m. ET.
The presentation will be webcast live on the company's investor relations website, with a replay available after the event. This conference provides GPC an opportunity to showcase its position in the market and discuss its strategies with investors and analysts.
Genuine Parts Company (NYSE: GPC) reported Q2 2024 results with sales of $6.0 billion, up 0.8% year-over-year. Diluted EPS decreased 13.5% to $2.11, while adjusted diluted EPS remained flat at $2.44. The company revised its 2024 outlook, lowering revenue growth expectations to 1% to 3% from 3% to 5% previously, and adjusted diluted EPS to $9.30 to $9.50 from $9.80 to $9.95.
The Automotive segment saw a 2.0% sales increase, while Industrial sales declined 1.1%. GPC generated $612 million in operating cash flow and $353 million in free cash flow for the first half of 2024. The company cited softer market conditions affecting demand, particularly in Industrial and U.S. and European Automotive businesses.
Genuine Parts Company (NYSE: GPC), a global distributor of automotive and industrial replacement parts, will announce its second quarter 2024 financial results on July 23, 2024.
Following the release, the company's management will host a conference call at 8:30 a.m. ET. The webcast and supplementary earnings materials will be available on the company's investor relations website. For those preferring telephonic access, the call can be reached at 1-800-836-8184. A replay will be accessible on the website and via toll-free number 1-888-660-6345 with ID 93997#, two hours post-call.
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