Genuine Parts Stock Price, News & Analysis

Genuine Parts Company (NYSE: GPC) has appointed William P. Stengel as its new President, marking an important leadership transition in the company's 93-year history. Previously the Executive Vice President and Chief Transformation Officer, Stengel will report to Paul Donahue, the Chairman and CEO. His prior role involved overseeing transformation initiatives and operational responsibilities. Stengel brings nearly two decades of leadership experience from HD Supply and other organizations. This promotion reflects the company's commitment to succession planning amid its strategic growth initiatives.

Genuine Parts Company (GPC) has announced a quarterly cash dividend of $0.79 per share, reflecting the company's ongoing commitment to returning value to shareholders. This dividend is set to be paid on January 4, 2021, to stockholders on record as of December 4, 2020. In 2019, GPC reported revenues totaling $19.4 billion, demonstrating its substantial presence in the automotive and industrial parts distribution sectors.

Genuine Parts Company (NYSE: GPC) announced the pricing of $500 million in 1.875% senior notes due 2030, issued at a price of 99.069% of face value. The offering is expected to settle on October 29, 2020. The company plans to use the proceeds to repay outstanding debt obligations. GPC has filed a registration statement with the SEC for this offering, and interested investors can access the prospectus for more information. The press release includes forward-looking statements and cautions against placing undue reliance on them due to associated risks.

Genuine Parts Company (NYSE: GPC) reported a Q3 2020 sales decline of 3.4% to $4.4 billion, with net income from continuing operations of $232.9 million, or $1.61 per diluted share. The Automotive Parts Group saw sales growth of 6.0%, while the Industrial Parts Group experienced a significant 18.6% decline. Adjusted net income rose to $236.8 million, reflecting a 17.3% increase per share. The company generated operating cash flow of $1.4 billion and reduced debt by $300 million, ending with $2.8 billion in liquidity. GPC suspended share repurchases amid economic uncertainty.

Genuine Parts Company (NYSE: GPC) will release its Third Quarter earnings on October 22, 2020. A conference call is scheduled for 11:00 a.m. Eastern time, accessible via the company’s website or by dialing 877-407-0789 with conference ID 13710500. The call replay will be available post-event until November 5, 2020. In 2019, the company reported revenues of $19.4 billion, specializing in the distribution of automotive and industrial replacement parts globally.

Genuine Parts Company (NYSE: GPC) has declared a regular quarterly cash dividend of $0.79 per share on its common stock. This dividend will be payable on October 1, 2020 to shareholders of record as of September 4, 2020. The company reported revenues of $19.4 billion in 2019, indicating a strong financial standing. Genuine Parts Company, founded in 1928, focuses on distributing automotive and industrial replacement parts across various regions, including North America and Europe.

Genuine Parts Company (GPC) reported a challenging second quarter with sales from continuing operations at $3.8 billion, down 14.2% year-over-year. The decline was due to a 13.7% drop in comparable sales and divestitures. The company experienced a net loss of $363.5 million, significantly impacted by a goodwill impairment charge in Europe. However, automotive sales recovered in May and June, aided by acquisitions, while cash flow improved to $921 million. GPC has paused share repurchases and aims to enhance liquidity amid ongoing economic uncertainties related to COVID-19.

Genuine Parts Company (GPC) announced the resignation of Scott A. Sonnemaker, Group President, North American Automotive, effective immediately. Sonnemaker, who joined the company in February 2019, is leaving to pursue other opportunities. GPC's CEO Paul Donahue expressed gratitude for Sonnemaker's contributions, highlighting that significant progress was made during his tenure towards the company's global focus. GPC remains optimistic about future growth in its automotive sector, supported by its experienced management teams.

Genuine Parts Company (NYSE: GPC) will release its Second Quarter Earnings on July 30, 2020. A conference call is scheduled for 11:00 a.m. Eastern time on the same day, accessible via the Company's website or by dialing 877-407-0789 (Conference ID: 13706045). If unable to attend, a replay will be available two hours after the call until 12:00 a.m. Eastern time on August 13, 2020. Genuine Parts Company reported $19.4 billion in revenues for 2019.