Genuine Parts Issues 2020 Earnings, Revenue Outlook - Quick Facts

(RTTNews) - Genuine Parts Company (GPC) said, for 2020, the company's earnings per share guidance is $5.80 to $5.90, an increase of 2% to 4%, or an adjusted 5% to 7% excluding the divestitures. Sales are anticipated to be at flat to up 1.0%, or up an adjusted 3.0% to 4.0% excluding the impact of the EIS and SPR Canada divestitures. Analysts polled by Thomson Reuters expect the company to report profit per share of $5.90. Analysts' estimates typically exclude special items.

Fourth-quarter adjusted net income per share was $1.35, flat with prior year. On average, 12 analysts polled by Thomson Reuters expected the company to report profit per share of $1.30 for the quarter. Analysts' estimates typically exclude special items.

Fourth-quarter sales were $4.7 billion, a 2.2% increase from a year ago. Total sales included 0.5% comparable growth and approximately 6.7% from acquisitions, offset by a 4.2% decline due to the sale of EIS, Inc and Grupo Auto Todo and a 0.8% negative impact from foreign currency. Analysts expected revenue of $4.69 billion for the quarter.

Fourth-quarter sales for the Automotive Group were up 8.7%, including an approximate 2.9% comparable sales increase. Sales for the Industrial Group were down 5.9%, including a 1.2% comparable sales decrease.

Paul Donahue, CEO, said, "Our fourth quarter results were driven by total sales growth of approximately 7% excluding the impact of EIS, which we sold. We remain confident in our ability to achieve our targeted $100 million cost savings run-rate by the end of 2020."