GPC Reports 15 Percent Jump in Sales, Hits 4th Quarter with 'Positive Momentum'

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Counterman has been serving auto parts jobbers, retailers and distributors since 1983.
Financials

GPC Reports 15 Percent Jump in Sales, Hits 4th Quarter with ‘Positive Momentum’

Sales for the year through September were $14.1 billion, up nearly 17 percent from $12.1 billion in the first nine months of 2017.

Counterman Staff
By Counterman Staff
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Genuine Parts Co. (GPC) reported third-quarter sales of $4.7 billion, a 15.3 percent increase over its 2017 third-quarter sales.

Third-quarter net income was $220.2 million, up from $158.4 million in third-quarter 2017.

Third-quarter sales for the Automotive Group were up 23.3 percent, according to the company, while sales for the Industrial Group were up 8.3 percent.

“We are pleased to report the further strengthening of our sales, driven by positive sales comps across all our business segments and the favorable impact of strategic acquisitions,” said Paul Donahue, GPC president and CEO. “In addition, our teams made progress in driving operating improvement, resulting in an improved operating margin for the automotive and industrial segments and the company overall. We also did an excellent job of managing our working capital, which contributed to the strong cash flows for the quarter.”

Sales for the year through September were $14.1 billion, up nearly 17 percent from $12.1 billion in the first nine months of 2017.

“We enter the fourth quarter of 2018 with positive momentum and plans for continued sales and earnings growth,” Donahue said. “We remain focused on the further strengthening of our core sales growth, maximizing the benefits of our acquisitions and improving our operating results to further enhance our long-term sales and profit outlook. As always, we will support these initiatives with a strong balance sheet and continued strong cash flows.”

For the full year, GPC is projecting sales growth between 14 percent and 15 percent, up from its prior guidance of 13 percent to 14 percent.

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Auto Industry

Customer Service: How It’s Done

Customer service should be your number one priority, and it all starts with the greeting.

Eric Garbe
By Eric Garbe
Eric Garbe is a graduate of Columbus State Community College with a degree in Automotive Maintenance Technology. He has extensive independent and dealership field experience as a technician and shop owner and is an ASE Certified Master Technician and former Adjunct Automotive Professor. He has been professionally writing automotive technical articles and documents for many years and in his free time enjoys restoring old cars and creating custom interiors and upholstery.
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This is always an important topic to discuss, because I consider excellent customer service one of the most important tools you can have to earn trust, respect and repeat business from the customers that come through your door. Whether that customer is do-it-yourselfer from across town or the professional repair shop across the street, your business depends on a solid relationship.It’s a subject that I am passionate about, and it’s one that many people are losing touch with. Whether you are communicating to someone in person, on the phone or using some type of social media, good customer service and bad can both exist. You can’t afford the latter, so this is the first in a series of topics which can and should be shared from the front of the shop to the back. No matter which role you hold, you represent the shop and yourself. Customer service should be your number one priority.First on the list is the greeting. From the second a customer walks in the door, they need to know you appreciate them coming in and how important they are to your business. First impressions are everything and here’s the correct way to do it each and every time: look them directly in the eye, smile and say hello!Of course, you can say “Good morning” or “Welcome to Joe’s Autocare,” but it should be a formal greeting and the most important thing is that you have smiled, looked them in the eye and recognized that they have walked through the door.You should always retain a formal greeting until you are on a first-name basis with a customer. Only once you have established that level of relationship is it OK to use the less formal greeting of “Hi,” followed by the person’s name.This greeting does more than just indicate respect and appreciation for someone walking through the door. Most likely there are customers both new and old who are in earshot of your conversation. For newer customers, this continues to build rapport and reinforce their positive view of your shop; they see that you demonstrate respect and treat everyone in the same manner. For repeat customers, even ones that have been coming for years, the greeting is important because the way you treat them is the reason they continue to come.And when a long-time customer comes in and you greet them with “Hi [First Name],” this indicates your appreciation for them and that you’re glad to see them as a person, more than just a customer. New customers that witness this will see that your repeat customers are comfortable enough to be on a first-name basis, another indication of the trust they have in you.

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