Genuine Parts Company
Genuine Parts Company Announces Fourth Quarter and Full-Year 2023 Results and Dividend Increase
Summary
Genuine Parts Company reported its fourth quarter and full-year 2023 financial results, showing a 1.1% increase in sales for the quarter and a 4.5% increase for the full year. The company declared a regular quarterly cash dividend of $1.00 per share, a 5.3% increase from the prior year. The dividend is payable on April 1, 2024, to shareholders of record on March 1, 2024. The company also provided an outlook for 2024, expecting revenue growth of 3% to 5% and adjusted diluted EPS of $9.70 to $9.90.
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About Genuine Parts Company
Genuine Parts Company is a leading distributor of automotive and industrial replacement parts. The company's core function is to supply a broad array of parts and services to the automotive and industrial sectors, supporting a wide network of retailers, repair shops, and manufacturers. Its extensive product line and customer-focused business approach cover everything from automotive spare parts to industrial components, impacting sectors such as transportation, manufacturing, and retail. With a global presence, Genuine Parts Company operates through a broad network of distribution centers and stores, ensuring the swift delivery of products to meet the needs of its diverse clientele. The company's dominant market role is underscored by its commitment to quality and reliability, which has established it as a trusted partner in the supply chain. Genuine Parts Company not only plays a crucial role in maintaining the efficiency and performance of vehicles and machinery but also contributes significantly to the supply infrastructure of these key industries, enhancing their capacity to sustain operations and manage logistical demands.
Official SEC Documents
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