GPC FY 2023 Earnings Report — Genuine Parts Company Revenue & Financial Results | Market Cap Arena

Genuine Parts CompanyGPC

FY 2023 Earnings

Reported February 22, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$23.1B	—	$22.1B	—	4.5%
Op. Income	$1.7B	—	$1.6B	—	8.2%
Gross Margin	35.9%	—	35.0%	—	0.9pp
Net Margin	5.7%	—	5.4%	—	0.3pp
EPS (Diluted)	$9.33	—	$8.31	—	12.3%
Free Cash Flow	$923M	—	$1.1B	—	-18.1%

Revenue Flow

Item	Amount
REVENUE	$23.1B
Cost of Revenue	$14.8B
GROSS PROFIT	$8.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$6.2B
Other Expenses	$376M
Operating Expenses	$6.5B
Cost & Expenses	$21.3B
OPERATING INCOME	$1.7B
Interest Income	$0
Interest Expense	$64M
Other Income/Expenses	-$5M
INCOME BEFORE TAX	$1.7B
Income Tax Expense	$426M
Net Income from Continuing Ops	$1.3B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.3B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.3B
D&A	$351M
EBIT	$1.8B
EBITDA	$2.2B
EPS	$9
EPS Diluted	$9

Income Statement

Item	Amount
REVENUE	$23.1B
Cost of Revenue	$14.8B
GROSS PROFIT	$8.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$6.2B
Other Expenses	$376M
Operating Expenses	$6.5B
Cost & Expenses	$21.3B
OPERATING INCOME	$1.7B
Interest Income	$0
Interest Expense	$64M
Other Income/Expenses	-$5M
INCOME BEFORE TAX	$1.7B
Income Tax Expense	$426M
Net Income from Continuing Ops	$1.3B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.3B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.3B
D&A	$351M
EBIT	$1.8B
EBITDA	$2.2B
EPS	$9
EPS Diluted	$9

Cash Flow Statement

Item	Amount
Net Income	$1.3B
Depreciation & Amortization	$351M
Stock-Based Compensation	$57M
Deferred Income Tax	$42M
Other Non-Cash Items	-$42M
Change in Working Capital	-$289M
OPERATING CASH FLOW	$1.4B
Capital Expenditure	-$513M
Acquisitions (Net)	-$274M
Purchases of Investments	$0
Sales/Maturities of Investments	$80M
Other Investing Activities	$0
NET CASH FROM INVESTING	-$706M
Net Debt Issuance	$531M
Common Stock Repurchased	-$261M
Common Dividends Paid	-$527M
Other Financing Activities	-$35M
NET CASH FROM FINANCING	-$292M
FREE CASH FLOW	$923M
Net Change in Cash	$449M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.1B
Short-Term Investments	$0
Net Receivables	$2.2B
Inventory	$4.7B
Other Current Assets	$1.6B
TOTAL CURRENT ASSETS	$9.6B
PP&E (Net)	$2.9B
Goodwill	$2.7B
Intangible Assets	$1.8B
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$949M
TOTAL NON-CURRENT ASSETS	$8.4B
TOTAL ASSETS	$18.0B
Account Payables	$5.5B
Short-Term Debt	$355M
Deferred Revenue	$0
Other Current Liabilities	$1.8B
TOTAL CURRENT LIABILITIES	$7.8B
Long-Term Debt	$3.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$438M
Other Non-Current Liabilities	$756M
TOTAL NON-CURRENT LIABILITIES	$5.7B
TOTAL LIABILITIES	$13.6B
Common Stock	$140M
Additional Paid-In Capital	$173M
Retained Earnings	$5.1B
Treasury Stock	$0
Accum. Other Comp. Income	-$977M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$4.4B
Minority Interest	$16M
TOTAL EQUITY	$4.4B
TOTAL LIABILITIES & EQUITY	$18.0B
Total Debt	$4.9B
Net Debt	$3.8B