Genuine Parts pany(US:GPC)2023-07-25 10:32Financial Performance - GPC reported Q2 2023 EBITDA of $561 million, up 8%[7] - The company's Q2 2023 diluted EPS was $244, up 11%[7] - GPC's Q2 2023 segment profit was $613 million, up 12%[7] - The company's gross margin improved by 110 bps to 361%[7] - GPC's free cash flow is projected to be between $900 million and $1 billion for 2023[41] Segment Performance - Automotive segment sales were $37 billion, up 54%[93] - Industrial segment sales were $23 billion, up 59%[91] - Australasia segment margin improved 190 bps to 125%[9] - Industrial segment profit increased 26% to $283 million[70] Strategic Initiatives and Capital Allocation - GPC spent $135 million on share repurchases, buying back approximately 841000 shares year-to-date[15] - The company paid $260 million in cash dividends year-to-date[25] - GPC is targeting capital expenditures of $375 million to $400 million in 2023[25, 27] - The company expects to exceed $50 million in total synergies from the KDG acquisition by the end of the year[78]