Genuine Parts (NYSE: GPC) reported Q4 EPS of $1.35, $0.05 better than the analyst estimate of $1.30. Revenue for the quarter came in at $4.7 billion versus the consensus estimate of $4.69 billion.

Paul Donahue, Chairman and Chief Executive Officer, commented, "Our fourth quarter results were driven by total sales growth of approximately 7% excluding the impact of EIS, which we sold on September 30th. The quarter was highlighted by the continued improvement in gross margin, solid sales and operating results in our U.S. and Australasian automotive businesses and continued operating margin expansion in Industrial.''

Mr. Donahue added, "We also closed on the Todd automotive and Fluid Power House industrial acquisitions in the fourth quarter and, effective January 1, 2020, sold our Canadian business products operations to further strengthen our portfolio. Our team was busy executing on our growth strategy while also focused on the cost savings initiatives announced last quarter. We are in the midst of streamlining functional areas across the organization, reducing the total number of distribution facilities and implementing greater use of automation within our facilities and back-office functions. We remain confident in our ability to achieve our targeted $100 million cost savings run-rate by the end of 2020."

GUIDANCE:

Genuine Parts sees FY2020 EPS of $5.80-$5.90, versus the consensus of $5.90. The Company is establishing its full year 2020 sales guidance at Flat to up 1.0%, or up an adjusted 3.0% to 4.0% excluding the impact of the EIS and SPR Canada divestitures.

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