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
A Brazilian judge has ordered all wireless phone carriers in the country to block WhatsApp after the Facebook-owned messaging service failed to comply with an order asking to turn over data related to a criminal investigation. According to reports, the app, which is used by over 100 million Brazilians,... Amazon.com Inc. intends to bring its free same-day delivery to the Bronx and Chicago's South Side areas. The online retailer's plans comes after severe criticism were raised that the company unfairly left out some predominantly black and Hispanic areas from its Prime service. An analysis done by... Sprint Corp., the third largest U.S. wireless carrier, on Tuesday reported a loss for the fourth quarter that widened from last year on one-time charges and lower revenues. The latest quarter's results include charges related to severance and lease exit costs, including the shutdown of legacy WiMAX service that will free up valuable spectrum and immediately lower network costs.
comments powered by Disqus
Follow RTT