Last $96.94 USD
Change Today +0.86 / 0.90%
Volume 688.9K
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genuine parts co (GPC) Key Developments

Genuine Parts Company Reports Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014; Provides Earnings Guidance for the Year 2015

Genuine Parts Company reported consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported net sales of $3,822,454,000 against $3,517,801,000 a year ago. Income before income taxes was $265,304,000 against $235,693,000 a year ago. Net income was $165,559,000 against $150,467,000 a year ago. Diluted net income per common share was $1.07 against $0.97 a year ago. Capital expenditures were $33,897,000 against $39,917,000 a year ago. For the year, the company reported net sales of $15,341,647,000 against $14,077,843,000 a year ago. Income before income taxes was $1,117,739,000 against $1,044,304,000 a year ago. Net income was $711,286,000 against $684,959,000 a year ago. Diluted net income per common share was $4.61 against $4.40 a year ago. Capital expenditures were $107,681,000 against $124,063,000 a year ago. Net cash provided by operating activities was $790,145,000 against $1,056,731,000 a year ago. The decrease in expenditures for the fourth quarter and the year primarily reflects the timing associated with certain projects. For fiscal year 2015, the company expects CapEx spending to be in the range of $125 million to $145 million for the full year. The company expects tax rate for 2015 to be in the 37% range. Expect cash from operations to be in the $800 million to $850 million range and the free cash flow to be approximately $350 million. The company initial guidance would be for EPS to come in between $4.70 to $4.80. Now included in this is approximately $0.15 per share that's due to unfavorable exchange rates and the related increase in the tax rate, which Carol referenced in her remarks. Stated another way, before the impact of currency and the tax differences, the company guiding to a range of $4.85 to $4.95, which will be up 5% to 7% on a comparative basis.

Genuine Parts Company Announces Quarterly Cash Dividend for 2015 Payable on April 1, 2015; Elects Robert A. Milstead as Senior Vice President Digital, Thomas K. Davis as Vice President Supplier Business IT and Jennifer L. Ellis as Corporate Secretary and Associate Counsel

Genuine Parts Company announced a 7% increase in the regular quarterly cash dividend for 2015. The Board of Directors of the company, at its February 16, 2015 board meeting, increased the cash dividend payable to an annual rate of $2.46 per share compared with the previous dividend of $2.30 per share. The quarterly cash dividend of sixty-one and one-half cents ($0.615) per share is payable April 1, 2015 to shareholders of record March 6, 2015. The company also announced that the Board of Directors has elected three new corporate officers. Robert A. Milstead was named Senior Vice President Digital, Thomas K. Davis was named Vice President Supplier Business IT and Jennifer L. Ellis was named Corporate Secretary and Associate Counsel. Mr. Milstead joined the company in January 2015 and brings with him over 18 years of experience in digital marketing and eCommerce strategy and execution, most recently serving as Vice President and Managing Director for Accenture. Mr. Davis was previously Director of Information Systems for the company's Balkamp operations, and has been with the company since 2012. Ms. Ellis has been with the company since 2008, most recently serving as Assistant Corporate Secretary and Associate Counsel.

Genuine Parts Company Seeks Acquisitions

Genuine Parts Company (NYSE:GPC) is seeking strategic acquisitions.

Genuine Parts Company to Report Q4, 2014 Results on Feb 17, 2015

Genuine Parts Company announced that they will report Q4, 2014 results at 11:00 AM, US Eastern Standard Time on Feb 17, 2015

Genuine Parts Company, Q4 2014 Earnings Call, Feb 17, 2015

Genuine Parts Company, Q4 2014 Earnings Call, Feb 17, 2015

 

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GPC

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Valuation GPC Industry Range
Price/Earnings 20.9x
Price/Sales 1.0x
Price/Book 4.5x
Price/Cash Flow 17.1x
TEV/Sales 0.9x
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