International. Genuine Parts Company (GPC) announced record second-quarter sales of $5600 million, up 17.1% from $4800 million in the second quarter of 2021.
According to the company, like-for-like store sales increased by 11.5% and acquisitions contributed 8.8% to the second quarter sales growth.
Diluted earnings per share soared 92.6% to $2.62.
"GPC achieved another record quarter, consisting of double-digit sales and earnings increases and a steady cadence of continued growth," said GPC CEO Paul Donahue.
"We are benefiting from the resilience of our automotive and industrial businesses and the strategic mix of our operations. We want to thank our 53,000 talented GPC teammates for their exceptional work and commitment to excellence."
Automotive Parts Group's sales increased 8.5% to $35 billion. An overall 8.4% increase in like-for-like sales and a 4.5% contribution from acquisitions boosted car sales.
"Our second quarter results were driven by exceptional execution from our teammates along with the continued focus on our strategic investments, which generated strong sales and margin expansion in both segments," said GPC President Will Stengel.
"In addition, we were pleased to further strengthen our balance sheet and generate strong cash flow," he added.
"Strength in the automotive industry was broad across our global operations. Similarly, continued strength in the industry led to its fifth consecutive quarter of double-digit sales comparisons."
Sales during the first six months of 2021 were $10.9 billion, up 17.8% from $9.2 billion in the same period in 2021.
