Genuine Parts Q2 2021 Earnings Report
Key Takeaways
Genuine Parts Company reported a strong second quarter with sales of $4.8 billion, up 25.1% compared to the same period last year. Diluted EPS from continuing operations was $1.36, and adjusted diluted EPS from continuing operations was $1.74, up 32% and a new record. The company also returned capital to shareholders via dividends and share repurchases and strengthened its balance sheet with strong cash flow.
Sales were $4.8 billion, up 25.1% compared to the same period of the prior year.
Diluted EPS from Continuing Operations was $1.36.
Adjusted Diluted EPS from Continuing Operations was $1.74, up 32% and a new record.
The company is updating its full-year 2021 guidance.
Genuine Parts
Genuine Parts
Genuine Parts Revenue by Segment
Forward Guidance
The Company is updating its full-year 2021 guidance previously provided in its earnings release on April 22, 2021.
Positive Outlook
- Total sales growth 10% to 12%
- Automotive sales growth 11% to 13%
- Industrial sales growth 6% to 8%
- Diluted earnings per share $5.81 to $5.96
- Adjusted diluted earnings per share $6.20 to $6.35
Challenges Ahead
- Effective tax rate Approx. 25%
- Net cash provided by operating activities $1.2 billion to $1.4 billion
- Free cash flow $900 million to $1.1 billion
- The Company considered its recent business trends and financial results
- The Company considered the continued uncertainty of COVID-19 and its potential impact on our results.
Revenue & Expenses
Visualization of income flow from segment revenue to net income