Genuine Parts ( (GPC) ) has released its Q4 earnings. Here is a breakdown of the information Genuine Parts presented to its investors.
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Genuine Parts Company, a prominent provider of automotive and industrial replacement parts, operates globally across various regions, including North America, Europe, and Australasia. The company offers value-added solutions to keep the world moving efficiently.
Genuine Parts Company reported its fourth quarter and full-year 2024 financial results, highlighting consistent growth in sales and an increase in dividends. Despite facing macroeconomic challenges, the company remained committed to its strategic initiatives and operational management.
For the fourth quarter of 2024, the company recorded $5.8 billion in sales, a 3.3% increase compared to the previous year, driven by acquisitions and favorable foreign currency impacts. However, net income saw a decline to $133 million, primarily due to restructuring and rebranding costs. For the entire year, sales reached $23.5 billion, with adjusted net income standing at $1.1 billion. The company also generated $1.3 billion in cash from operations and returned $705 million to shareholders through dividends and share repurchases.
Looking ahead, Genuine Parts Company anticipates revenue growth between 2% and 4% for 2025, with an adjusted diluted EPS projected between $7.75 and $8.25. The company also announced a 3% increase in its dividend, marking the 69th consecutive year of dividend growth.
As Genuine Parts Company navigates through the complexities of global market conditions, it continues to focus on cost-saving initiatives and strategic growth plans. The management remains optimistic about achieving its financial targets and delivering value to its shareholders in 2025.
