logo
Share SHARE
FONT-SIZE Plus   Neg

Genuine Parts Q1 Profit Climbs - Quick Facts

Genuine Parts Co. (GPC) reported first quarter net income of $146.26 million or $0.93 per share, up from $126.52 million or $0.80 per share a year ago. On average, six analysts polled by Thomson Reuters expected the company to report earnings of $0.87 per share. Analysts' estimates typically exclude special items.

Net sales were up to $3.18 billion from $2.97 billion in the prior-year quarter. Analysts estimated revenues of $3.16 billion.

Thomas Gallagher, Chairman and Chief Executive Officer, said,

"...In the first quarter, the Automotive Group posted a 6% sales increase. This Group has experienced steady and consistent sales growth dating back to the fourth quarter of 2009, reflecting the positive impact of our sales initiatives and the sound fundamentals in the automotive aftermarket, which continue to support a healthy marketplace. Sales for Motion Industries, our Industrial Group, remain the strongest among our four business segments, growing by 12% in the quarter. EIS, our Electrical Group, posted a 5% sales increase. Both Motion Industries and EIS have generated very strong sales growth over the last two years, driven by their internal initiatives and the recovery of the manufacturing sector of the economy..."

Gallagher concluded, "..As we turn to the second quarter, we are optimistic that our businesses will show continued progress over the balance of the year."

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Tesla's next electric car Model 3 is aimed at the masses with a price tag that could go below $30,000. Tesla CEO Elon Musk, during an earnings call, confirmed that the Model 3 will start selling for "around $35k," and reservations will start from March 31 in Tesla stores and online on April 1 for... Advanced Disposal Services Inc. joins the growing list of companies to postpone their initial public offering amid the volatility in stock markets. Breakfast and snack food giant Kellogg Co. on Thursday reported a loss for the fourth quarter that narrowed from last year as lower revenues were more than offset by a decline in costs and expenses. Adjusted earnings per share for the quarter topped analysts' estimates, while revenue fell short of expectations. Looking ahead, the company affirmed its financial outlook for fiscal 2016.
comments powered by Disqus
Follow RTT