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

Editors Pick
Activision Blizzard reported a better-than-expected increase in second-quarter profit, as the video game publisher saw robust growth in digital channels, penetration in China and improved margins. It lifted its guidance for 2015, sending its shares up... Diversified media and entertainment conglomerate Walt Disney Co. said Tuesday after the markets closed that its third quarter profit rose 11% from last year, driven mainly by strong earnings growth at its film and consumer products divisions. The company's quarterly earnings per share came in above analysts' expectations, but its quarterly revenue fell short of analysts' forecast. AIG reported a plunge in second-quarter profit, hurt by a decline at its insurance business, debt-related losses and lower gains from the sale of investments. However, its earnings topped Street estimates, partly on contribution from aircraft leasing giant AerCap. AIG also announced a boost in dividend and said it would buyback an additional $5 billion stock.
comments powered by Disqus
RELATED NEWS
Trade GPC now with 
Follow RTT