Genuine Parts Company (GPC) Q1 2023 Earnings Call Transcript

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good day, ladies and gentlemen. Welcome to the Genuine Parts Company First Quarter 2023 Earnings Conference Call. All participants will be in listen-only mode. After today’s presentation, there will be an opportunity to ask questions. Please note, today's event is being recorded.

At this time, I would like to turn the conference over to Sid Jones, Senior Vice President, Investor Relations. Please go ahead.

Sid Jones - SVP, IR

Good morning, and thank you for joining us today for the Genuine Parts Company First Quarter 2023 Earnings Conference Call. With me today are Paul Donahue, our Chairman and Chief Executive Officer; Will Stengel, our President and Chief Operating Officer; and Bert Nappier, Executive Vice President and Chief Financial Officer.

In addition to this morning's press release, a supplemental slide presentation can be found on the Investors page of the Genuine Parts Company website. Note, we will not be playing these slides through the webcast.

Please be advised this call may include certain non-GAAP financial measures, which may be referred to during today's discussion of our results as reported under generally accepted accounting principles. A reconciliation of these measures is provided in the earnings press release.

Today's call may also involve forward-looking statements regarding the company and its businesses. The company's actual results could differ materially from any forward-looking statements due to several important factors described in the company's latest SEC filings, including this morning's press release. The company assumes no obligation to update any forward-looking statements made during this call.

Now, I'll turn the call over to Paul for his remarks.

Paul Donahue - Chairman & CEO

Thank you, Sid, and good morning. Welcome to our first quarter 2023 earnings conference call. We were pleased with the continued strength and momentum in our businesses and to report results that exceeded our expectations for the quarter.

Before I share my comments on the first quarter, I want to share a few thoughts from our 2023 Investor Day, which we hosted just this past month. We use this event to convey our confidence in the bright future of Genuine Parts Company and update everyone on our strategy and the many opportunities we see for long-term profitable growth.

During the course of the day, we highlighted our rich history, ongoing transformation and strategic priorities, which we showcased through several key initiatives in an interactive expo.