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.
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Genuine Parts Company (NYSE: GPC) has appointed William P. Stengel as president and chief operating officer, effective January 1, 2023, expanding his role after serving as president since 2021. Stengel, with significant leadership experience, will oversee daily operations and continue driving GPC's strategic vision. Christopher T. Galla has been named senior vice president and general counsel, bringing nearly 18 years of experience and expanding his responsibilities in governance and compliance. Both appointments reflect the company's commitment to leadership continuity.
Genuine Parts Company (NYSE: GPC) has declared a quarterly cash dividend of $0.895 per share on its common stock. This dividend will be payable on January 3, 2023 to shareholders of record as of December 2, 2022. Established in 1928, the company operates globally, distributing automotive and industrial replacement parts from over 10,000 locations across 17 countries, employing approximately 53,000 people.
Genuine Parts Company (NYSE: GPC) will present at three upcoming investor conferences. The events are the Gabelli Funds 46th Annual Auto Symposium on November 1 at 1:00 p.m. ET, the Baird Global Industrial Conference on November 9 at 10:05 a.m. ET, and the Stephens Annual Investment Conference on November 16 at 11:00 a.m. ET. Interested parties can access live webcasts through the company's investor relations website, with replays available afterward. Genuine Parts Company, established in 1928, operates globally in automotive and industrial parts distribution.
Genuine Parts Company (GPC) reported record sales of $5.7 billion for Q3 2022, marking a 17.8% increase from the previous year. Diluted EPS rose to $2.20, a 38.4% increase, with adjusted EPS at $2.23, up 18.6%. The strong performance was driven by effective strategies in its Automotive and Industrial divisions. The company raised its full-year outlook for sales growth to 15%-16% and diluted EPS to $8.29-$8.39. Operating cash flow increased to $1.2 billion, reflecting solid operational management.
On September 27, 2022, Genuine Parts Company (NYSE: GPC) announced plans to release its Third Quarter Earnings on October 20, 2022. Management will host a conference call at 11:00 a.m. ET on the same day, which will be accessible via the company's investor relations website and by phone. A replay will be available shortly after the call concludes. Genuine Parts Company, founded in 1928, operates globally in the distribution of automotive and industrial replacement parts, with over 10,000 locations across 17 countries and approximately 53,000 employees.
Genuine Parts Company (NYSE: GPC) announced its participation in two upcoming investor conferences: the Raymond James Diversified Industrials Conference on August 23 at 10:20 a.m. ET and the Goldman Sachs Global Retailing Conference on September 8 at 10:30 a.m. ET. Interested parties can access live webcasts of the events on the company’s investor relations website, with replays available post-event. Genuine Parts, founded in 1928, operates over 10,000 locations across 17 countries, distributing automotive and industrial replacement parts.
Genuine Parts Company (NYSE: GPC) declared a regular quarterly cash dividend of $0.895 per share, payable on October 3, 2022, to shareholders of record as of September 2, 2022. This marks a continued commitment to shareholder returns. The company, founded in 1928, distributes automotive and industrial replacement parts across 17 countries through over 10,000 locations, employing approximately 53,000 individuals. This dividend reflects GPC's solid performance and dedication to providing income to its investors.
Genuine Parts Company (GPC) reported record sales of $5.6 billion for Q2 2022, marking a 17.1% increase from the previous year. Net income stood at $373 million or $2.62 per diluted share, up 92.6%. Adjusted net income rose 26.4% to $313 million. Automotive sales reached $3.5 billion (up 8.5%), while Industrial sales soared 34.5% to $2.1 billion. The company raised its full-year 2022 guidance for revenue growth to 12%-14% and EPS to $8.08-$8.23.
Genuine Parts Company (GPC) will report its Second Quarter Earnings on July 27, 2022. A conference call will follow at 11:00 a.m. ET, accessible via a live webcast on the Company's investor relations website or by dialing 888-317-6003 with conference ID 0479094. A replay will be available post-call. Founded in 1928, GPC distributes automotive and industrial replacement parts globally, with a network of over 10,000 locations across 17 countries.
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