ATLANTA Genuine Parts Co. (GPC) reported record sales and earnings for the third quarter and nine months ended Sept. 30, 2012. Thomas Gallagher, chairman and CEO, announced today that sales totaling $3.4 billion were up 3 percent compared to the third quarter of 2011. Net income for the quarter was $172.9 million, an increase of 14 percent from $151.8 million recorded in the same period of the previous year.
Earnings per share on a diluted basis were $1.11, up 14 percent compared to 97 cents for the third quarter last year.
For the nine months ended Sept. 30, 2012, sales totaled $9.9 billion, up 5 percent compared to the same period in 2011. Net income for the nine months was $487.8 million, an increase of 13 percent from $430.2 million recorded in the previous year. Earnings per share on a diluted basis were $3.11, up 14 percent compared to $2.72 for the same period last year.
In review of the quarter, Gallagher commented, “We are pleased to report another quarter of record sales and earnings for Genuine Parts Co. After adjusting our sales results for one less selling day in the current quarter, total sales increased 4 percent from the third quarter of 2011. The Automotive Group reported a 2.5 percent sales increase and adjusted for the selling days, automotive sales were up 4 percent.