Genuine Parts Q1 sales $5.8B, EPS $2.14 (+24.4%); raises FY EPS guidance to $8.95-$9.10

GENUINE PARTS CO

2023-Q1 EPS reported $2.14 revenue$5,765,118,000

Record Q1 sales of $5.8B (+8.9%), diluted EPS $2.14 (+24.4% GAAP, +15.1% adjusted).
Industrial sales $2.3B (+11.9%), segment profit $262M (+39.1%), margin 11.6% (+230bps).
Automotive sales $3.5B (+7.0%) but segment profit flat at $264M, margin down 60bps to 7.5%.
Full-year 2023 diluted EPS guidance raised to $8.95-$9.10 from $8.80-$8.95; operating cash flow guidance raised.
Q1 operating cash flow $198M; free cash flow $109M; dividends $126M, stock repurchases $68M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

GENUINE PARTS CO reported the first quarter ended March 31, 2023 results: revenue $5.8 billion, net income $304 million, EPS $2.14. Guidance raised.

Period: the first quarter ended March 31, 2023
Revenue: $5.8 billion
Net income: $304 million
EPS: $2.14
Guidance: raised
Result: reported results

Exact text from the filing

Genuine Parts Company Reports First Quarter 2023 Results And Raises Full Year Outlook • Record Sales of $5.8 Billion, Up 8.9% • Diluted EPS of $2.14, Up 24.4%, or Up 15.1% from Adjusted Diluted EPS in 2022 • Updates 2023 Outlook: ◦ Reaffirms Revenue Growth of 4% to 6% ◦ Increases Diluted EPS to $8.95 to $9.10, Up from $8.80 to $8.95 ◦ Increases Cash From Operations to $1.3 Billion to $1.4 Billion, Up from $1.2 Billion to $1.4 Billion

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Source: SEC EDGAR

accession 0000040987-23-000013

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