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Genuine Parts pany(GPC) - 2024 Q4 - Annual Results
GPCGenuine Parts pany(GPC)2025-02-18 12:55

Sales Performance - Fourth quarter 2024 sales reached 5.8billion,a3.35.8 billion, a 3.3% increase from 5.6 billion in the same period last year[4]. - Full-year 2024 sales totaled 23.5billion,up1.723.5 billion, up 1.7% compared to 2023[12]. - Global Automotive sales were 3.7 billion, up 6.1% from the same period in 2023[10]. - Industrial sales were 2.1billion,down1.22.1 billion, down 1.2% from the same period in 2023[11]. - Total net sales for the year ended December 31, 2024, increased by 1.7%, with automotive sales growing by 3.7% and industrial sales declining by 1.4%[47]. Earnings and Profitability - Adjusted diluted EPS for 2024 was 8.16, a decrease of 12.5% from 9.33perdilutedsharein2023[13].−NetincomeforQ42024decreasedto9.33 per diluted share in 2023[13]. - Net income for Q4 2024 decreased to 133,056, down 58.0% from 316,875inQ42023[32].−BasicearningspershareforQ42024were316,875 in Q4 2023[32]. - Basic earnings per share for Q4 2024 were 0.96, compared to 2.27inQ42023,representingadeclineof57.62.27 in Q4 2023, representing a decline of 57.6%[32]. - Net income for the year ended December 31, 2024, was 904,076, a decrease of 31.3% from 1,316,524in2023[42].−AdjustednetincomefortheyearendedDecember31,2024,was1,316,524 in 2023[42]. - Adjusted net income for the year ended December 31, 2024, was 1,139,841, compared to 1,316,524in2023,reflectingadecreaseof13.41,316,524 in 2023, reflecting a decrease of 13.4%[44]. - Corporate EBITDA for Q4 2024 was (121,911), compared to (63,964)inQ42023,indicatingincreasedcostsassociatedwithcorporateoperations[35].CashFlowandAssets−Thecompanygeneratedcashflowfromoperationsof(63,964) in Q4 2023, indicating increased costs associated with corporate operations[35]. Cash Flow and Assets - The company generated cash flow from operations of 1.3 billion and free cash flow of 684millionfortheyear[14].−Netcashprovidedbyoperatingactivitiesdecreasedto684 million for the year[14]. - Net cash provided by operating activities decreased to 1,251,251 from 1,435,610,reflectingadeclineof12.81,435,610, reflecting a decline of 12.8%[42]. - Free cash flow for the year ended December 31, 2024, was 683,912, down 26.0% from 922,935in2023[48].−Totalcurrentassetsincreasedto922,935 in 2023[48]. - Total current assets increased to 9,852,584 in 2024 from 9,605,852in2023,primarilydrivenbyariseinmerchandiseinventories[40].−Totalassetsgrewto9,605,852 in 2023, primarily driven by a rise in merchandise inventories[40]. - Total assets grew to 19,282,705 in 2024, up from 17,968,454in2023,indicatinga7.317,968,454 in 2023, indicating a 7.3% increase[40]. - The company reported a net decrease in cash and cash equivalents of 622,016, compared to an increase of 448,544in2023[42].DividendsandShareholderReturns−A3448,544 in 2023[42]. Dividends and Shareholder Returns - A 3% increase in the quarterly cash dividend was declared, raising the annual rate to 4.12 per share[16]. - The company declared dividends of 1.00percommonshareinQ42024,upfrom1.00 per common share in Q4 2024, up from 0.95 in Q4 2023[32]. Future Outlook - The company expects total sales growth of 2% to 4% for 2025[21]. - Adjusted diluted EPS guidance for 2025 is set at 7.75to7.75 to 8.25[21]. - The company anticipates additional restructuring costs of approximately 150millionto150 million to 180 million in 2025, with expected savings of 100millionto100 million to 125 million[17]. Restructuring and Costs - The company reported restructuring costs of 59,695inQ42024,comparedtonosuchcostsinQ42023[36].−Thecompanyincurredrestructuringandothercostsof59,695 in Q4 2024, compared to no such costs in Q4 2023[36]. - The company incurred restructuring and other costs of 221,007 for the year, impacting overall profitability[44]. Debt and Acquisitions - The company’s long-term debt increased to 3,742,640in2024from3,742,640 in 2024 from 3,550,930 in 2023, reflecting a rise of 5.4%[40]. - The company made acquisitions totaling 1,080,238in2024,significantlyhigherthan1,080,238 in 2024, significantly higher than 306,881 in 2023[42]. Tax and Other Financials - Cash paid for income taxes in 2024 was 264,625,downfrom264,625, down from 366,270 in 2023[42]. - GAAP diluted net income per common share for the year ended December 31, 2024, was 6.47,downfrom6.47, down from 9.33 in 2023[44].