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Mar 31, 2023
Genuine Parts Q1 2023 Earnings Report
Genuine Parts Company reported record sales and increased EPS, driven by strong performance in international automotive and industrial segments, and updated its full-year outlook.
Key Takeaways
Genuine Parts Company reported record sales of $5.8 billion, an 8.9% increase year-over-year, and diluted EPS of $2.14, up 24.4%. The company's performance was driven by its multi-year strategic transformation and the geographic diversity of its operations. GPC updated its full-year outlook, increasing diluted EPS to $8.95 to $9.10 and cash from operations to $1.3 billion to $1.4 billion.
Record sales of $5.8 billion, up 8.9% year-over-year.
Diluted EPS of $2.14, up 24.4% year-over-year.
Global Automotive sales increased by 7.0%, driven by strong international performance.
Industrial sales increased by 11.9%, marking the eighth consecutive quarter of double-digit sales comps.
Revenue by Segment
Forward Guidance
The company updated its full-year 2023 guidance, reflecting confidence in its strategic plans and ability to execute through continued economic uncertainty.
Positive Outlook
- Reaffirms total sales growth of 4% to 6%.
- Reaffirms Automotive sales growth of 4% to 6%.
- Reaffirms Industrial sales growth of 4% to 6%.
- Increases diluted earnings per share to $8.95 to $9.10.
- Increases cash from operations to $1.3 billion to $1.4 billion.
Challenges Ahead
- Global economic outlook uncertainty.
- Geopolitical conflicts and potential impact on results.
- Potential impact of public health emergencies.
- Uncertain credit markets and other macroeconomic conditions.
- Volatile exchange rates.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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