Genuine Parts Company reported its 2024 fourth quarter and full-year financial results on Feb. 18, which showed an increase in year-over-year sales that was supported by acquisitions and a favorable foreign currency impact. Meanwhile, sales slide further for its industrial parts subsidiary, Motion.

Industrial Parts 4Q & 2024

GPC reported that 4Q sales at Birmingham, AL-based MRO supplies distributor Motion totaled $2.1 billion, down 1.2% year-over-year. The decline was attributed to a 1.7% decrease in comparable sales and a 0.3% unfavorable impact of foreign currency, partially offset by a 0.8% benefit from acquisitions.

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Sequentially, 4Q sales was flat compared to 3Q24’s 1.2% decline. The additional selling day in the U.S. impacted the segment positively with an approximate 0.9% sales growth.

Meanwhile, Motion’s 4Q segment EBITDA of $285 million decreased 6.2%, with a segment EBITDA margin of 7.8% likewise down 100 basis points year-over-year.

For its full-year results, GPC reported sales at Motion totaled $8.7 billion, down from 2023’s $8.8 billion. The decline was attributed to a decline of 2.1% in comparable sales and a 0.1% decrease in foreign currency, partially offset by a 0.8% increase from acquisitions.

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Motion was ranked No. 2 on MDM’s Top Distributors List for Industrial Supplies, No. 2 for MRO, No. 1 for Power Transmission/Bearings, No. 3 for Fluid Power and No. 2 for Hose/Hose Accessories.

Automotive 4Q & 2024

GPC’s Automotive segment — which does business as NAPA Auto Parts — reported 4Q global sales of $3.7 billion, up 6.1% year-over-year. The gain consisted of a 4.6% benefit from acquisition, a favorable impact of foreign currency of 1.3% and a 0.2% increase in comparable sales.

The additional selling day in the U.S. impacted the segment by roughly 0.9% in sales growth.

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Meanwhile, segment EBITDA of $271 million decreased 4.3% year-over-year, while EBITDA margin of 12.9% declines 40 bps from the same period a year prior.

For its full-year results, GPC reported sales at NAPA Auto Parts of $1.2 billion, down from 2023’s $1.3 billion. Despite the decline, acquisitions attributed a 3.7% increase while foreign currency attributed to a 0.1%, partially offset by a decline of 0.1% in “other.”

Overall 4Q & 2024

GPC reported overall 4Q sales of $5.8 billion, an increase of 3.3% year-over-year. Net income for the quarter was $133 million, down from $317 million the same period a year prior. Adjusted net income of $224 million was down from $317 million from 2023.

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Meanwhile, sales for the company’s full-year were $23.5 billion, up 1.7% year-over-year. Net income of $904 million was down from 2023’s net income of $1.3 billion, while adjusted net income of $1.1 billion, declined 12.5% year-over-year.

“While the year presented challenges due to macroeconomic conditions and softer end-market demand, we remained focused on controlling what we could—advancing our strategic initiatives to strengthen the business and effectively managing our operations,” GPC President and CEO Will Stengel said in the company’s financial release.

2025 Outlook

GPC released its full-year 2025 guidance. The company expects total sales growth of between 2% to 4%. Automotive sales growth is expected to range from 2% to 4%, and industrial sales is expected to show growth in the same range. The company said its forecast for net cash provided by operating activities at $1.2 billion to $1.4 billion and free cash flow at $800 million to $1.0 billion.