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Home > Fortune 500 Companies > Genuine Parts
Genuine Parts
Genuine Parts is a publicly traded company having a good stock performance result. It is a fortune 500 stock listed company trading under GPC.
The company was founded in 1928. It is a service organization engaged in the distribution of automotive replacement parts, industrial replacement parts, office products and electrical/electronic materials. Their products and services are offered through a network of over 1,800 operations, geographically located across the United States, Canada and Mexico.
With over 75 years of distribution expertise, their well-positioned, regionally located distribution centers provide them with the unique ability to adapt their product and service lines to better suit their customers' needs. GPC's commitment and reputation for just-in-time service position them as a critical partner in their customers' success.MrJames B. Williams is looking after the board till April of 2006.
The total sales for the year 2005 rose to 9.8 billion dollars, an increase of 8 percent over the prior year. Net earnings for the year were 437 million dollars. They have now increased sales in 55 of the last 56 years and increased profits in 43 of the last 45 years. This is a record that they are proud of and they feel that it shows the stability and consistency of genuine parts company.
The company is pleased to report that each of their 4 business segments contributed to the progress made in 2005. Their strongest results came from Motion Industries, their industrial distribution company. And, importantly, the outlook for Motion is positive for 2006 as well.
Electrical segment, also serves the manufacturing segment and they reported a sales increase of 2% for the year. The Office Products Company, improved sales by 8 percent for the year. Finally, Automotive, their largest business group, increased sales 6 percent in 2005, following a 6 percent increase in 2004.
The company focuses across all of their business segments. The objective is to maintain level of revenue growth, improve their operating margins, and continue to enhance asset management and working capital efficiencies.
.In closing, they want to express their appreciation to their employees, customers, vendors and shareholders for an ongoing support to Genuine Parts Company.
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