Genuine Parts Company (NYSE: GPC) flexed its muscles on Wednesday’s release of financial results for the fourth quarter and 12 months ended December 31, 2019.
The Atlanta-based company reported Q4 sales $4.7 billion, up 2.2%, and record full-year sales of $19.4 billion, an improvement of 3.5%.
Fourth-quarter diluted Earnings per Share $0.06 and full-year diluted EPS $4.24. Adjusted Diluted EPS were $1.35 and full-year adjusted Diluted EPS $5.69.
Genuine Parts also reported that it returned $513 Million to shareholders via cash dividends and share repurchases in 2019.
Fourth-quarter net income was $8.9 million. Excluding the impact of restructuring and special termination costs, goodwill impairment and certain transaction costs, adjusted net income was $196.7 million, or $1.35 per diluted share.
Net income for the 12 months was $621.1 million and diluted earnings per share was $4.24. Excluding items which impact comparability with prior periods, as noted above, adjusted net income was $833.2 million, or $5.69 per share, for the 12 months ended December 31, 2019.
Said CEO Paul Donohue, ''Our fourth-quarter results were driven by total sales growth of approximately 7% excluding the impact of EIS, which we sold on September 30. The quarter was highlighted by the continued improvement in gross margin, solid sales and operating results in our U.S. and Australasian automotive businesses and continued operating margin expansion in Industrial.''
GPC shares jumped $3.41, or 3.5%, to $100.21
