Genuine Parts Projects Revenue Growth Of 9%-11% In FY22 - Quick Facts

(RTTNews) - Genuine Parts Company (GPC) said, for fiscal 2022, the company projects: 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 profit per share of $7.35. Analysts' estimates typically exclude special items.

"Looking ahead, we remain confident in our plans for accelerated growth and profitability as we build on the underlying momentum in our automotive and industrial operations and begin to realize the benefits from our recent industrial acquisition of Kaman Distribution Group," said Paul Donahue, CEO.

Fourth quarter earnings was $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 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically 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 availability on the revolving credit facility and $714.7 million in cash and cash equivalents.