Genuine Parts pany(US:GPC)2024-07-23 11:41Financial Performance - Q2 2024 sales reached $6 billion, a 0.8% increase year-over-year[9] - Adjusted EBITDA for Q2 2024 was $591 million, a 4% decrease year-over-year[9] - The company's gross margin improved by 50 bps to 36.6%[9] - Free cash flow year-to-date increased by 40% to $353 million[9] Segment Performance - Automotive sales increased by 2% to $3.7 billion[22] - Industrial sales decreased by 1.1% to $2.2 billion[17] - North America industrial segment profit decreased by 2% to $277 million[13] - Automotive segment profit decreased by 5% to $314 million[23] Capital Allocation and Outlook - The company projects approximately $500 million in capital expenditures for 2024[33, 34] - The company spent approximately $75 million on share repurchases for approximately 510,000 shares year-to-date[33] - The company paid approximately $272 million in cash dividends year-to-date[33] - The outlook for adjusted diluted EPS has been revised to $9.30 to $9.50[34]