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Dec 31, 2023
Genuine Parts Q4 2023 Earnings Report
Genuine Parts Company reported a solid fourth quarter, delivering on its financial commitments and achieving mid-single-digit total sales growth and double-digit earnings growth.
Key Takeaways
Genuine Parts Company reported a 1.1% increase in sales to $5.6 billion and a 27.7% increase in diluted EPS to $2.26 for the fourth quarter of 2023. The company's diverse business segments contributed to the results, with the Industrial and International Automotive businesses outperforming expectations.
Sales of $5.6 billion, up 1.1%.
Diluted EPS of $2.26, up 27.7%.
Global Automotive sales were $3.5 billion, up 0.8%.
Industrial sales were $2.1 billion, up 1.7%.
Genuine Parts
Genuine Parts
Genuine Parts Revenue by Segment
Revenue by Segment
Automotive Parts Revenue
CapyFin.comIndustrial Parts Revenue
CapyFin.com Forward Guidance
The company is establishing full-year 2024 guidance, expecting total sales growth of 3% to 5% and adjusted diluted earnings per share of $9.70 to $9.90.
Positive Outlook
- Revenue Growth of 3% to 5%
- Automotive sales growth 2% to 4%
- Industrial sales growth 3% to 5%
- Adjusted diluted earnings per share $9.70 to $9.90
- Net cash provided by operating activities $1.3 billion to $1.5 billion
Challenges Ahead
- Diluted earnings per share $8.95 to $9.15
- Effective tax rate Approx. 24%
- Free cash flow $800 million to $1 billion
- Global economic outlook
- Geopolitical conflicts
Revenue & Expenses
Visualization of income flow from segment revenue to net income