Paul Donahue to Transition to Executive Chairman Will Stengel Appointed President and Chief Executive OfficerATLANTA, April 29, 2024 /PRNewswire/ -- Genuine Parts Company (NYSE: GPC), a leading global distributor of automotive and industrial replacement parts, announced today that Paul D. Donahue will transition from chairman and CEO to executive chairman, effective June 3, 2024. At that time, William P. Stengel, II, currently president and COO, will succeed Mr. Donahue as president and CEO of GPC and will ...

​​​Inflation is here to stay. While down from the historically high levels hit over the past year or so, inflation rates remain elevated and are wearing on the economy. U.S. business activity slowed to a four-month low this month, which has worried the Federal Reserve.It was looking to cut interest rates at least three times this year, possibly as many as six times, but now it’s not sure it will even do it once. Fed Chairman Jay Powell recently said he had no “confidence” that inflation would head in the ri ...

Getting big returns from financial portfolios, whether through stocks, bonds, ETFs, other securities, or a combination of all, is an investor's dream. But when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments.While cash flow can come from bond interest or interest from other types of investments, income investors hone in on dividends. A dividend is that coveted distribution of a company's earnings paid out to shareholders, and investors of ...

Have you evaluated the performance of Genuine Parts' (GPC) international operations for the quarter ending March 2024? Given the extensive global presence of this auto and industrial parts distributor, analyzing the patterns in international revenues is crucial for understanding its financial strength and potential for growth.In the current era of a tightly interconnected global economy, the proficiency of a company to penetrate international markets significantly influences its financial health and traject ...

Investor confidence is rebounding for this reliable dividend stock.Shares of automotive and industrials parts maker Genuine Parts (GPC 12.66%) jumped on Thursday even though it's normally a sleepy stock. The company reported financial results for the first quarter of 2024 and raised its full-year profit guidance, which is why Genuine Parts stock was up 12% as of 11 a.m. ET.Investor confidence is on the riseIn Q1, Genuine Parts' sales increased by less than 1% to $5.8 billion and its earnings per share (EPS) ...

Genuine Parts Company (GPC) delivered first-quarter 2024 adjusted earnings of $2.22 per share, up 3.74% year over year. The bottom line surpassed the Zacks Consensus Estimate of $2.15 per share. The company reported net sales of $5.78 billion, lagging the Zacks Consensus Estimate of $5.84 billion and inching up 0.32% year over year. This nominal increase was due to a 1.9% boost from acquisitions, offset by a 0.9% drop in comparable sales and a 0.7% impact from unfavorable foreign currency transactions.Segme ...

Genuine Parts (GPC) reported $5.78 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 0.3%. EPS of $2.22 for the same period compares to $2.14 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $5.85 billion, representing a surprise of -1.05%. The company delivered an EPS surprise of +3.26%, with the consensus EPS estimate being $2.15.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Stre ...

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Securities registered pursuant to Section 12(b) of the Act: Title of Each Class Trading Symbol Common Stock, $1.00 par value per share GPC Table of Contents Item 1. Legal Proceedings 23 Item 1A. Risk Factors 23 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 23 Item 5. Other Information 23 Item 6. Exhibits 24 Signatures 25 PART I – FINANCIAL INFORMATION Item 1. Financial Statements GENUINE PARTS CO ...

Financial Performance - Sales for Q1 2024 were $5.8 billion, a 0.3% increase year-over-year, driven by a 1.9% benefit from acquisitions[5] - Diluted EPS for Q1 2024 was $1.78, down 16.8% from $2.14 in the prior year, while adjusted diluted EPS increased by 3.7% to $2.22[3][10] - The company reaffirmed its full-year 2024 revenue growth outlook of 3% to 5% and updated adjusted diluted EPS guidance to $9.80 to $9.95[3][9] - The company reported adjusted net income of $311 million for Q1 2024, a 2.3% increase compared to the prior year[10] - Net income for the three months ended March 31, 2024, was $248,894, down from $303,957 in the same period last year, a decrease of 18.1%[33] - Adjusted net income, after accounting for restructuring costs, was $310,898, compared to $303,957 in the prior year, showing an increase of 2.9%[36] Cash Flow and Liquidity - Cash flow from operations for Q1 2024 was $318 million, with free cash flow of $203 million[7] - The company ended the quarter with total liquidity of $2.5 billion, including $1.0 billion in cash and cash equivalents[14] - The company reported a decrease in operating cash flow, with net cash provided by operating activities at $318,306, compared to $197,507 in the same period last year, an increase of 60.9%[33] - Net cash provided by operating activities for Q1 2024 was $318,306 thousand, compared to $197,507 thousand for Q1 2023, representing a significant increase[43] - Free cash flow for Q1 2024 was $202,616 thousand, up from $109,407 thousand in Q1 2023[43] - The company maintains its outlook for net cash provided by operating activities for the year ending December 31, 2024, at $1.3 billion to $1.5 billion[43] - Free cash flow guidance for the year ending December 31, 2024, remains at $800 million to $1.0 billion[43] Sales and Segment Performance - Global automotive sales reached $3.6 billion, up 1.9% from the same period in 2023, while industrial sales were $2.2 billion, down 2.2%[11][12] - Automotive net sales for the three months ended March 31, 2024, increased to $3,574,020, up from $3,505,827 in the same period last year, representing a growth of 1.9%[30] - Total net sales for the same period reached $5,783,631, slightly up from $5,765,118, indicating a year-over-year increase of 0.3%[30] - Total segment profit rose to $543,775 for the three months ended March 31, 2024, compared to $526,407 in the prior year, reflecting a growth of 3.3%[30] - Segment profit for automotive increased by 3.2% to $273 million, with a profit margin of 7.6%, while industrial segment profit rose by 3.4% to $271 million, with a margin of 12.3%[11][12] Restructuring and Costs - The company incurred restructuring and other costs of $83,042 related to a global restructuring initiative, which includes voluntary retirement offers and optimization of distribution centers[30] Assets and Liabilities - Cash and cash equivalents at the end of the period were $1,049,588, down from $1,102,007 at the beginning of the period, a decrease of 4.8%[33] - Total current liabilities increased to $8,639,486 from $7,827,109, representing a rise of 10.4%[32] - The company’s total assets grew to $18,336,513 from $17,968,454, marking an increase of 2.0%[32] Capital Expenditures - Capital expenditures are projected to be approximately $500 million for the year ending December 31, 2024[43]

Genuine Parts Company (GPC) is slated to release first-quarter 2024 results on Apr 18, before market open. The Zacks Consensus Estimate for earnings per share is pinned at $2.15, implying growth of 0.47% from the year-ago reported number. The consensus estimate has moved down 11 cents in the past 60 days.The Zacks Consensus Estimate for revenues is pegged at $5.85 billion, suggesting a year-over-year increase of 1.39%. Genuine Parts surpassed earnings estimates in each of the trailing four quarters, the ave ...