Genuine Parts Company Announces First Quarter 2024 Results and Updates Full-Year Outlook

Details

The company reported a diluted EPS of $1.78, down 16.8% from the prior year. Adjusted diluted EPS was $2.22, up 3.7%. The company updated its full-year outlook for 2024, reaffirming revenue growth of 3% to 5% and adjusting the adjusted diluted EPS to $9.80 to $9.95.

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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.