gpc-20250630

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q


☒			QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2025


☐			TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission file number: 1-5690

__________________________________________

GENUINE PARTS COMPANY

(Exact name of registrant as specified in its charter)

__________________________________________


GA						58-0254510
(State or other jurisdiction of incorporation or organization)						(I.R.S. Employer Identification No.)

2999 WILDWOOD PARKWAY,

30339

ATLANTA,

(Address of principal executive offices)

(Zip Code)

678-934-5000

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class

Trading Symbol

Name of each exchange on which registered

Common Stock, $1.00 par value per share

GPC

New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer

☒

Accelerated filer

☐

Non-accelerated filer

☐

Smaller reporting company

☐

Emerging growth company

☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

There were 139,092,294 shares of common stock outstanding as of July 17, 2025.


Table of Contents

PART I		Page

Item 1.	Financial Statements	2
	Condensed Consolidated Balance Sheets	2
	Condensed Consolidated Statements of Income	3
	Condensed Consolidated Statements of Comprehensive Income	4
	Condensed Consolidated Statements of Equity	5
	Condensed Consolidated Statements of Cash Flows	7
	Notes to Condensed Consolidated Financial Statements	8
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	19
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	28
Item 4.	Controls and Procedures	28

PART II

Item 1.	Legal Proceedings	29
Item 1A.	Risk Factors	29
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	29
Item 5.	Other Information	29
Item 6.	Exhibits	30
	Signatures	31

Table of Contents

PART I – FINANCIAL INFORMATION

Item 1. Financial Statements

GENUINE PARTS COMPANY AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(UNAUDITED)


(in thousands, except share and per share data)	June 30, 2025		December 31, 2024
Assets
Current assets:
Cash and cash equivalents	$	457,993	$	479,991
Trade accounts receivable, less allowance for doubtful accounts (2025 – $76,830; 2024 – $68,976)	2,600,737		2,182,856
Merchandise inventories, net	5,774,046		5,514,427
Prepaid expenses and other current assets	1,640,974		1,675,310
Total current assets	10,473,750		9,852,584
Goodwill	3,094,594		2,897,270
Other intangible assets, less accumulated amortization	1,877,578		1,799,031
Property, plant and equipment, less accumulated depreciation (2025 – $1,950,462; 2024 – $1,771,785)	2,053,449		1,950,760
Operating lease assets	1,939,322		1,769,720
Other assets	992,374		1,013,340
Total assets	$	20,431,067	$	19,282,705

Liabilities and equity
Current liabilities:
Trade accounts payable	$	5,996,943	$	5,923,684
Short-term borrowings	961,451		41,705
Current portion of long-term debt	101,230		500,000
Dividends payable	143,265		134,355
Other current liabilities	2,010,259		1,925,636
Total current liabilities	9,213,148		8,525,380
Long-term debt	3,744,118		3,742,640
Operating lease liabilities	1,614,961		1,458,391
Pension and other post–retirement benefit liabilities	222,244		218,629
Deferred tax liabilities	430,497		441,705
Other long-term liabilities	487,181		544,109
Equity:
Preferred stock, par value – $1 per share; authorized – 10,000,000 shares; none issued	—		—
Common stock, par value – $1 per share; authorized – 450,000,000 shares; issued and outstanding – 2025 – 139,092,221 shares; 2024 – 138,779,664 shares	139,092		138,780
Additional paid-in capital	205,146		196,532
Accumulated other comprehensive loss	(1,068,219)		(1,261,743)
Retained earnings	5,426,894		5,263,838
Total parent equity	4,702,913		4,337,407
Noncontrolling interests in subsidiaries	16,005		14,444
Total equity	4,718,918		4,351,851
Total liabilities and equity	$	20,431,067	$	19,282,705

See accompanying Notes to Condensed Consolidated Financial Statements.

Table of Contents

GENUINE PARTS COMPANY AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(UNAUDITED)


	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands, except per share data)	2025		2024		2025		2024
Net sales	$	6,164,425	$	5,962,567	$	12,030,494	$	11,746,198
Cost of goods sold	3,840,037		3,782,264		7,532,422		7,491,240
Gross profit	2,324,388

SEC Form 10-Q filed by Genuine Parts Company