Genuine Parts Lifts Earnings Outlook On Record Quarterly Sales
- Scott Peters
- U.S.A. New York City
-
The company reported record quarterly total sales, margin expansion, and double-digit earnings growth.
Genuine Parts Company said first quarter 2022 revenues rose 19% to $5.3 billon, net income increased 15% to,$246 million, and diluted earnings per share advanced 15% to $1.72 from $1.50 a year ago.
The company lifted its annual diluted earnings per share outlook to a range of $7.56 to $7.71 from $7.45 to $7.60 and retained free cash flow outlook to between $1.2 billion and $1.4 billion.
"We are pleased with the continued strength in our results to start the year, and we could not be prouder of the hard work by all our 52,000 teammates," said Paul Donahue, Chairman and Chief Executive Officer.
"The first quarter was highlighted by new sales records for GPC and our Automotive and Industrial segments, margin expansion and our seventh consecutive quarter of double-digit earnings growth. The GPC team successfully navigated through ongoing supply chain challenges and inflationary pressures at levels we haven't seen in 40 years."
Mr. Donahue added, "The continued strength in Automotive reflects solid growth across our operations, with 12% and 13% comparable sales increases in the U.S. and Canada, respectively, and high-single digit comps in Europe and Australasia.
Additionally, Industrial posted its fourth consecutive quarter of double-digit sales comps, driven by strengthening sales trends throughout the quarter."
Annual Returns
| Company | Ticker | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Genuine Parts Company | GPC | 0% | -16% | -24% |