Genuine Parts Company (GPC) Q4 2024 earnings summary

Executive summary

• 2024 sales reached $23.5B, up 1.7% year-over-year, with growth driven by acquisitions offsetting weak end markets, especially in Industrial.

• Adjusted diluted EPS was $8.16 for 2024, down 12.5%–13% year-over-year; Q4 adjusted EPS was $1.61.

• Over $700M returned to shareholders via dividends and buybacks; board approved a 3% dividend increase, marking 69 consecutive years of growth.

• Over 100 acquisitions completed in 2024, including 500+ NAPA stores, expanding talent, capabilities, and geographic reach.

• Q4 2024 sales were $5.8B, up 3.3% year-over-year; adjusted EBITDA for the year was $2.0B.

Financial highlights

• Adjusted gross margin for 2024 improved 70 bps to 36.6%; Q4 adjusted gross margin was 36.9%, up 50 bps.

• Adjusted EBITDA margin for 2024 was 8.5%, down 80 bps; Q4 adjusted EBITDA margin was 7.5%, down 180 bps.

• Free cash flow for 2024 was $684M; cash from operations was $1.3B.

• Full-year adjusted net income was $1.14B.

• Dividend yield at year-end was 3.4%.

Outlook and guidance

• 2025 adjusted EPS expected at $7.75–$8.25; reported EPS at $6.95–$7.45.

• Sales growth guidance for 2025 is 2%–4% for both Automotive and Industrial segments.

• Free cash flow projected at $800M–$1B; CapEx at $400M–$450M.

• Gross margin expected to expand 40–60 bps; SG&A to deleverage 20–40 bps.

• 2025 guidance excludes a one-time, non-cash charge for U.S. pension plan termination, timing uncertain.