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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 (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.
Genuine Parts Company (NYSE: GPC) will present at the Evercore ISI Consumer and Retail Conference on June 9, 2022, at 11:00 a.m. ET. Presenters will include Paul Donahue, Chairman and CEO, and Bert Nappier, EVP & CFO. Interested parties can access a live webcast through the Company's investor relations website, with a replay available post-event. Founded in 1928, Genuine Parts Company specializes in the distribution of automotive and industrial replacement parts across 17 countries with over 10,000 locations and approximately 53,000 employees.
Genuine Parts Company (NYSE: GPC) has declared a quarterly cash dividend of $0.895 per share on its common stock. This dividend is set to be paid on July 1, 2022, to shareholders of record as of June 3, 2022. Established in 1928, Genuine Parts Company specializes in the distribution of automotive and industrial replacement parts across multiple countries, including the U.S., Canada, and Europe. With over 10,000 locations in 17 countries and approximately 53,000 employees, the company is a significant player in its industry.
Genuine Parts Company (NYSE: GPC) reported record sales of $5.3 billion for Q1 2022, an 18.6% increase, driven by strong growth in both Automotive and Industrial segments. Diluted EPS rose to $1.72, up 14.7%, with adjusted diluted EPS at $1.86, reflecting a 24.0% increase. The integration of Kaman Distribution Group is progressing well, contributing to overall sales growth, with the company raising its 2022 revenue outlook to 10%-12%. Operating cash flow increased to $398.8 million, highlighting the company’s strong financial position and cash generation capabilities.
Genuine Parts Company (NYSE: GPC) announced the acquisition of Lausan Group, effective April 12, 2022. This acquisition expands GPC's European automotive footprint by entering Spain and Portugal, where Lausan is a leading distributor of automotive aftermarket parts. Lausan, based in Bilbao, Spain, operates a national distribution center and 37 stores, projecting annual revenue of approximately €115 million ($125 million USD). GPC aims to leverage its European scale and NAPA brand to enhance Lausan's market presence.
Genuine Parts Company (NYSE: GPC) is set to announce its First Quarter Earnings on April 21, 2022. A conference call will follow at 11:00 a.m. ET, accessible via the Company’s investor relations website or by phone at 888-317-6003 (Conference ID: 2523809). A replay of the call will be available shortly after its conclusion. GPC is a leading distributor of automotive and industrial replacement parts, operating over 10,000 locations in 15 countries with around 52,000 employees.
Genuine Parts Company (GPC) reported a 13.0% increase in fourth-quarter sales, reaching $4.8 billion, and a 14.1% rise in full-year sales to $18.9 billion. Diluted EPS from continuing operations was $1.79 for Q4, and $6.23 for the full year, marking a 17.8% and 31.1% increase respectively. GPC announced plans for 2022 revenue growth of 9% to 11% and diluted EPS between $7.45 and $7.60. The company also completed the acquisition of Kaman Distribution Group on January 3, 2022, reinforcing growth strategies.
Wallbox (NYSE:WBX) has partnered with NAPA Auto Parts (NYSE:GPC) to bring its Pulsar Plus smart home EV chargers to over 6,000 locations across the U.S. and Canada. The chargers, available online and in-store, are recognized for their innovative technology including flexible amperage settings, Bluetooth and Wi-Fi connectivity, and energy management solutions. This strategic collaboration aims to enhance NAPA's EV product offerings and promote the adoption of EV technology to meet growing consumer demand.
Genuine Parts Company (NYSE: GPC) announced a 10% increase in its quarterly cash dividend, raising it from $3.26 to an annual rate of $3.58 per share. The new quarterly dividend of $0.895 per share will be paid on April 1, 2022, to shareholders recorded by March 4, 2022. This marks the 66th consecutive year of increased dividends since the company went public in 1948. GPC continues its commitment to return value to shareholders through consistent dividend increases.
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