Welcome to our dedicated page for Genuine Parts news (Ticker: GPC), a resource for investors and traders seeking the latest updates and insights on Genuine Parts stock.
Genuine Parts Company reports recurring developments as a global service provider of automotive and industrial replacement parts and value-added solutions. Company news centers on operating and financial results, comparable sales trends, acquisition effects, segment performance and earnings outlooks across the North America Automotive Parts Group, International Automotive Parts Group and Industrial Parts Group.
GPC updates also cover regular cash dividend declarations, capital actions, investor conference participation, board leadership and governance matters. Its automotive operations span North America, Europe and Australasia, while its industrial parts business serves maintenance, repair and original equipment manufacturing customers in North America and Australasia.
Genuine Parts Company (GPC) reported strong financial results for Q4 2022, with sales of $5.5 billion, a 15.0% increase year-over-year, driven by an 11.1% gain in comparable sales and contributions from acquisitions. Diluted EPS stood at $1.77, while adjusted diluted EPS reached $2.05, up 14.5%.
For the full year, GPC achieved record sales of $22.1 billion (up 17.1%), with a net income of $1.2 billion. The company returned $719 million to shareholders through dividends and buybacks. Looking ahead, GPC forecasts a 4% to 6% sales growth for 2023, projecting diluted EPS of $8.80 to $8.95.
Genuine Parts Company (NYSE: GPC) announced a 6% increase in its quarterly cash dividend, raising the annual rate to $3.80 per share from $3.58 in 2022. The quarterly dividend of $0.95 is set to be paid on April 3, 2023, to shareholders of record as of March 3, 2023. This marks the 67th consecutive year of increased dividends, showcasing the company's strong commitment to returning value to shareholders. Genuine Parts has maintained a cash dividend every year since going public in 1948.
On February 23, 2023, Genuine Parts Company (NYSE: GPC) will report its fourth quarter and full-year 2022 results during a conference call at 11:00 a.m. ET. The public can access the call via the company's investor relations website or by dialing 888-317-6003 (Conference ID: 0079869). A replay will be available shortly after the call. Additionally, GPC will host an Investor Day on March 23, 2023, at 8 a.m. ET in Atlanta, focusing on key growth initiatives. The event is by invitation only, but a webcast will be available for broader access.
Genuine Parts Company (NYSE: GPC) has appointed William P. Stengel as president and chief operating officer, effective January 1, 2023, expanding his role after serving as president since 2021. Stengel, with significant leadership experience, will oversee daily operations and continue driving GPC's strategic vision. Christopher T. Galla has been named senior vice president and general counsel, bringing nearly 18 years of experience and expanding his responsibilities in governance and compliance. Both appointments reflect the company's commitment to leadership continuity.
Genuine Parts Company (NYSE: GPC) has declared a quarterly cash dividend of $0.895 per share on its common stock. This dividend will be payable on January 3, 2023 to shareholders of record as of December 2, 2022. Established in 1928, the company operates globally, distributing automotive and industrial replacement parts from over 10,000 locations across 17 countries, employing approximately 53,000 people.
Genuine Parts Company (NYSE: GPC) will present at three upcoming investor conferences. The events are the Gabelli Funds 46th Annual Auto Symposium on November 1 at 1:00 p.m. ET, the Baird Global Industrial Conference on November 9 at 10:05 a.m. ET, and the Stephens Annual Investment Conference on November 16 at 11:00 a.m. ET. Interested parties can access live webcasts through the company's investor relations website, with replays available afterward. Genuine Parts Company, established in 1928, operates globally in automotive and industrial parts distribution.
Genuine Parts Company (GPC) reported record sales of $5.7 billion for Q3 2022, marking a 17.8% increase from the previous year. Diluted EPS rose to $2.20, a 38.4% increase, with adjusted EPS at $2.23, up 18.6%. The strong performance was driven by effective strategies in its Automotive and Industrial divisions. The company raised its full-year outlook for sales growth to 15%-16% and diluted EPS to $8.29-$8.39. Operating cash flow increased to $1.2 billion, reflecting solid operational management.
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On September 27, 2022, Genuine Parts Company (NYSE: GPC) announced plans to release its Third Quarter Earnings on October 20, 2022. Management will host a conference call at 11:00 a.m. ET on the same day, which will be accessible via the company's investor relations website and by phone. A replay will be available shortly after the call concludes. Genuine Parts Company, founded in 1928, operates globally in the distribution of automotive and industrial replacement parts, with over 10,000 locations across 17 countries and approximately 53,000 employees.
Genuine Parts Company (NYSE: GPC) announced its participation in two upcoming investor conferences: the Raymond James Diversified Industrials Conference on August 23 at 10:20 a.m. ET and the Goldman Sachs Global Retailing Conference on September 8 at 10:30 a.m. ET. Interested parties can access live webcasts of the events on the company’s investor relations website, with replays available post-event. Genuine Parts, founded in 1928, operates over 10,000 locations across 17 countries, distributing automotive and industrial replacement parts.