Genuine Parts Stock Price, News & Analysis

Genuine Parts Company (GPC) will release its First Quarter Earnings on April 22, 2021, followed by a conference call at 11:00 a.m. ET. Investors can access the call and earnings materials on the company's website. The company operates globally, serving customers from over 10,000 locations across 14 countries, with 2020 revenues reaching $16.5 billion. This upcoming earnings report will provide insights into the company's financial performance and future outlook.

Genuine Parts Company (NYSE: GPC) announced the appointment of Napoleon B. Rutledge, Jr. as Chief Accounting Officer. Mr. Rutledge, who has over 21 years of experience with the firm and has served as Senior Vice President of Finance since 2018, will oversee corporate finance, regulatory accounting, financial reporting, and analysis. CEO Paul Donahue and CFO Carol Yancey expressed confidence in Rutledge's capabilities and expect significant contributions in his new role. Genuine Parts Company reported $16.5 billion in revenue for 2020 and operates through an extensive network across 14 countries.

Genuine Parts Company (NYSE: GPC) reported its Q4 and full-year 2020 results, revealing a 0.7% decrease in fourth-quarter sales to $4.3 billion. Net income increased significantly to $171.6 million or $1.18 per diluted share, compared to $79.0 million or $0.54 per diluted share in the previous year. Despite a decline in comparable sales, automotive sales grew by 0.7%, while industrial sales fell by 3.3%. The company generated $2 billion in operating cash flow and reduced debt by 22%. Looking ahead, GPC expects 4-6% sales growth in 2021.

Genuine Parts Company (GPC) announced a 3% increase in its quarterly cash dividend, raising the annual rate to $3.26 per share from $3.16. The quarterly dividend of $0.815 will be payable on April 1, 2021, with a record date of March 5, 2021. This marks the 65th consecutive year of increased dividends. Additionally, Juliette W. Pryor was appointed as a new independent director, bringing extensive experience in corporate governance and compliance.

Genuine Parts Company (GPC) will release its Fourth Quarter Earnings on February 17, 2021. The management will host a conference call at 11:00 a.m. Eastern time, accessible via the Company's website or by dialing 877-407-0789 with conference ID 13715052. A replay will be available post-call until March 3, 2021. Founded in 1928, Genuine Parts Company distributes automotive and industrial replacement parts globally, achieving revenues of $19.4 billion in 2019.

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.