Cash and cash equivalents (USD, thousands)

Trade accounts receivable, less allowance for doubtful accounts (USD, thousands)

Merchandise inventories, net (USD, thousands)

Prepaid expenses and other current assets (USD, thousands)

Total current assets (USD, thousands)

Goodwill (USD, thousands)

Other intangible assets, less accumulated amortization (USD, thousands)

Property, plant and equipment, less accumulated depreciation (USD, thousands)

Operating lease assets (USD, thousands)

Other assets (USD, thousands)

Total assets (USD, thousands)

Trade accounts payable (USD, thousands)

Current portion of debt (USD, thousands)

Dividends payable (USD, thousands)

Other current liabilities (USD, thousands)

Total current liabilities (USD, thousands)

Long-term debt (USD, thousands)

Operating lease liabilities (USD, thousands)

Pension and other post–retirement benefit liabilities (USD, thousands)

Deferred tax liabilities (USD, thousands)

Other long-term liabilities (USD, thousands)

Common stock (USD, thousands)

Additional paid-in capital (USD, thousands)

Accumulated other comprehensive loss (USD, thousands)

Retained earnings (USD, thousands)

Total parent equity (USD, thousands)

Noncontrolling interests in subsidiaries (USD, thousands)

Total equity (USD, thousands)

Total liabilities and equity (USD, thousands)

3f631b11e41bd9488dd2dc42224e19231fb51b619471f44f0fa19bce540b7de8

Net income [USD, thousands]

Depreciation and amortization [USD, thousands]

Share-based compensation [USD, thousands]

Excess tax benefits from share-based compensation [USD, thousands]

Other operating activities, including changes in operating assets and liabilities [USD, thousands]

Net cash provided by operating activities [USD, thousands]

Purchases of property, plant and equipment [USD, thousands]

Proceeds from sale of property, plant and equipment [USD, thousands]

Acquisitions of businesses [USD, thousands]

Proceeds from divestitures of businesses [USD, thousands]

Net cash used in investing activities [USD, thousands]

Proceeds from debt [USD, thousands]

Payments on debt [USD, thousands]

Shares issued from employee incentive plans [USD, thousands]

Dividends paid [USD, thousands]

Purchases of stock [USD, thousands]

Other financing activities [USD, thousands]

Net cash provided by (used in) financing activities [USD, thousands]

Effect of exchange rate changes on cash and cash equivalents [USD, thousands]

Net (decrease) increase in cash and cash equivalents [USD, thousands]

Cash and cash equivalents at beginning of period [USD, thousands]

Cash and cash equivalents at end of period [USD, thousands]

409ee3d236780522ba0f91262254f5d8b11a1a256345545ea8c5e3d065404036

Genuine Parts Company's net income in Q1 2024 was significantly affected by a **global restructuring initiative**. The decrease was primarily due to **restructuring and other costs** amounting to **$83 million**, which contributed to an **18.1%** drop from the previous year's net income.  **[0000040987-24-000066_gpc-earnq12024.htm:0]** **[0000040987-24-000068_gpc-20240331.htm:17]** 

Why was Net Income so low in Q1 2024?

The significant drop in **Net Income** for Q3 2024 was driven by several factors. **Weaker market conditions**, especially in Europe and the global industrial business, resulted in declining sales—industrial and comparable sales being notably affected.  **[20241022CL36385:0]** **[0000040987-24-000205_gpc-earnq32024.htm:0]**  In addition, **increased cost pressures** from higher depreciation, elevated interest expenses, and substantial IT investments reduced profitability.  **[GPC_3403176_8]** **[GPC_3403176_7]**  The company also incurred notable **restructuring and integration costs** (approximately **$45 million pretax** or **$36 million after tax**) tied to acquisition activities, which further strained earnings.  **[GPC_3403176_7]**  Moreover, **disruptions** from events like **Hurricanes Helene and Beryl** and a CrowdStrike outage led to reduced sales and lower earnings per share.  **[GPC_3403176_8]** **[GPC_3403176_7]**  These combined factors, including weakening segment profitability in automotive and industrial segments, collectively drove the substantial decrease in net income.  **[20241022CL36385:0]** **[0000040987-24-000205_gpc-earnq32024.htm:0]** **[GPC_3403176_8]** **[GPC_3403176_7]** 

What drove the significant drop in Net Income in Q3 2024?

The lower EPS in Q3 2024 was driven by **several factors**: continued weakness in market conditions—particularly in Europe and the Industrial business—which led to lower-than-expected sales and profitability; **restructuring and acquisition costs**, including a net expense of **$36 million** after tax adjustments; a **decline in comparable sales** despite sales being driven by acquisitions and an extra selling day in the U.S.; **decreases in segment profits** (with the Automotive segment down **18.6%** and the Industrial segment down **8.5%**); and **external disruptions** such as hurricanes and a CrowdStrike outage.  **[20241022CL36385:0]** **[0000040987-24-000205_gpc-earnq32024.htm:0]** **[GPC_3403176_8]** **[GPC_3403176_9]** 

What factors contributed to the lower EPS in Q3 2024?

Overall, **net sales actually increased by 1.1%** in Q4 2023; however, **comparable sales declined by 1.2%** during the quarter. The decline in comparable sales was primarily driven by challenges within the automotive segment, where a **2.7% drop** was observed, partly due to factors such as unseasonably warm weather and reduced purchases from independent owners.  **[0000040987-24-000020_gpc-earnq42023.htm:0]** **[GPC_3373509_5]** 

Why did Net Sales decline in Q4 2023?

4f6a4a23984e475b70df04ca296a6f866f8508543344375ac6d3e23acd6cc4dc

Net Sales (USD, thousands)

Cost of Goods Sold (USD, thousands)

Gross Profit (USD, thousands)

Selling, Administrative and Other Expenses (USD, thousands)

Depreciation and Amortization (USD, thousands)

Provision for Doubtful Accounts (USD, thousands)

Restructuring and Other Costs (USD, thousands)

Total Operating Expenses (USD, thousands)

Interest Expense, Net (USD, thousands)

Other Non-Operating (Income) Expense (USD, thousands)

Total Non-Operating (Income) Expense (USD, thousands)

Income Before Income Taxes (USD, thousands)

Income Taxes (USD, thousands)

Net Income (USD, thousands)

Basic Earnings per Share (USD)

Diluted Earnings per Share (USD)

76a8a2abfd2c841edb84c3cd71ce0f6b2a61b64e783074c4b53d2fab5a812e37

5e0f5acf381c1cc45f5ce850ac6c3a2de3997603fbdfb38852b04b50e240a507

87c133c885297fced1898726c6c907adb510b481553f603671700dfb92fbec68

Adjustments for Non-Cash Items [USD]

Stock-Based Compensation [USD]

Changes in Working Capital [USD]

Capital Expenditures (CapEx) [USD]

Proceeds from Debt [USD]

Repayments of Debt [USD]

Share Repurchases [USD]

Dividend Payments [USD]

Net Change in Cash [USD]

123693f51686947ca5f0bb04e1bbf029acfc46934ca46effc036c4c26f89b64f

Number of global locations (locations)

Number of net new stores (stores)

Comparable Sales for GPC (percentage)

Comparable Sales for Automotive (percentage)

Comparable Sales for Industrial (percentage)

Benefit from acquisitions for GPC (percentage)

Benefit from acquisitions for Automotive (percentage)

Benefit from acquisitions for Industrial (percentage)

Negative impact on comparable sales from Hurricanes and CrowdStrike (percentage)

832b270cc562cc043479ed439a5b33c1fd161cc7773c211016bc61d8c240c865

Automotive

Industrial

Business Products

Office Products

Electrical/Electronic Materials

Other

Total Revenue

5819e774e3a613777f937083284aa90a9f502bf2220324d875c1ac42fe274804

North America

- United States

- Canada

- Mexico

Europe

Australasia

- Australasia (Automotive)

- Australasia (Industrial)

0731588acd03642f6e7d076f6a046081b47870ba74f064d61b440de26ef8010f

GENUINE PARTS (GPC)

Financials