Genuine Parts Projects 9-11% Revenue Growth in FY22 – Quick Facts

(RTTNews) – Genuine Parts Company (GPC) said, for fiscal 2022, the company expects: revenue growth of 9% to 11%; and earnings per share of $7.45 to $7.60. Analysts polled by Thomson Reuters expect the company to report earnings per share of $7.35. Analyst estimates generally exclude special items.

“Looking forward, we remain confident in our plans to accelerate growth and profitability as we build on the underlying momentum of our automotive and industrial operations and begin to realize the benefits of our recent industrial acquisition. of Kaman Distribution Group,” said Paul Donahue, CEO. .

Fourth quarter earnings were $256.00 million, or $1.79 per share, compared to $171.20 million, or $1.18 per share, a year ago. Excluding items, Genuine Parts reported adjusted earnings of $256.22 million or $1.79 per share for the period. Analysts on average had expected the company to earn $1.60 a share, according to figures compiled by Thomson Reuters. Analyst estimates generally exclude special items. Revenue rose 12.9% to $4.80 billion from $4.25 billion last year.

The company ended the quarter and year with $2.2 billion in total liquidity, consisting of $1.5 billion available on the revolving credit facility and $714.7 million in cash and cash equivalents. .

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