Genuine Parts Company (NYSE: GPC), a distributor of automotive replacement parts in the U.S., Canada, Mexico and Australasia, as well as industrial

replacement parts in the U.S., Canada and Mexico through its Motion Industries subsidiary, business products in the U.S. and Canada through its S. P. Richards Company subsidiary and electrical and electronic components throughout the U.S., Canada and Mexico through its EIS, Inc. subsidiary, announced today record sales and earnings for the second quarter ended June 30, 2017.

Financial Highlights

Sales: were UP 5% to $4.1 billion, a new record.

• >Automotive Group sales: were UP 4%, including an approximate 1.5% comparable sales increase. 
• >Industrial Group sales (Motion Industries): were UP 7%, including a 5% comparable sales increase.
• >Electrical/Electronic Group sales (EIS): were UP 11%, with comparable sales down 1%. 
• >Office Products Group sales (S.P. Richards): were UP 5% for the quarter, including a 4% decrease in comparable sales.

Net income: was DOWN marginally to $190.0 million compared to $191.4 million recorded for the same period in the previous year.  

Earnings per share on a diluted basis: were UP 1% to $1.29.

For the full year 2017, the Company continues to expect:

• >total sales to be up 3% to 4%,
• >diluted earnings per share to range from $4.70 to $4.75 compared to the prior outlook of $4.75 to $4.85.

Paul Donahue, President and Chief Executive Officer, commented on the above results as follows:

"We are encouraged by the steady and consistent total sales increase thus far in 2017 which reflects the diversified aspects of our Company combined with an ongoing strategy to drive both organic and acquisitive growth.This represents our second consecutive quarter of 5% total sales growth for the Company and includes sales increases in each of our four distribution businesses, with our strongest performances in the Industrial and Electrical segments.

Our teams are committed to generating sustainable sales growth, while also streamlining our cost structure to improve profitability.We believe our focus in these areas, along with a strong balance sheet, solid cash flows and effective capital allocation, will drive long-term growth for the Company and serve to maximize shareholder value."