Genuine Parts (GPC) 10-K Summary — Year Ended Dec 31, 2023
Genuine Parts Company distributes automotive and industrial replacement parts. The company reported higher revenue for the year, though operating cash flow decreased from the prior year.
Key takeaway
Year ended Dec 31, 2023 · FY2025 10-K
Genuine Parts Company distributes automotive and industrial replacement parts. The company reported higher revenue for the year, though operating cash flow decreased from the prior year.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$23.1B
Revenue reported for the fiscal year.
Operating income
n/a
Income from operations reported for the year.
Net income
$1.3B
Net income reported for the year.
Operating cash flow
$1.4B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2021 | $18.9B | n/a |
| Dec 31, 2022 | $22.1B | +17.1% |
| Dec 31, 2023 | $23.1B | +4.5% |
Business overview
The company is a distributor of automotive and industrial replacement parts. Its operations serve a broad customer base through a network of locations. The filing does not provide further details on specific segments or products.
Financial performance
Revenue increased by a mid-single-digit percentage compared to the prior year. Net income was reported at over one billion dollars. Operating cash flow declined by a low-single-digit percentage from the prior year.
Material risks
The filing references risk factors but the supplied text does not include their specific content. Readers should refer to the full filing for details on operational, competitive, or regulatory risks. No material risks can be stated from the supplied context alone.
Liquidity and capital
The company uses cash from operations, supplemented by commercial paper, debt issuances, and borrowings to fund investments, capital expenditures, and shareholder returns. Cash used in investing activities decreased substantially compared to the prior year.
What to watch
Investors should monitor trends in operating cash flow and working capital changes in the next filing.