Sales for the fourth quarter increased 9.4% to $4.6 billion. The quarterly sales included 4.6% comparable growth, about 6% from acquisitions and about 1.2% negative impact from foreign currency translation.
Automotive Group sales grew by 11.4% year-over-year. This included about 4% comparable sales increase, about 9% benefit from acquisitions and an unfavorable foreign currency translation of about 2%.
Sales for the Industrial Group were up 8.7%, including an approximate 7% comparable sales increase and 2% from acquisitions. Sales for the Business Products Group were up 1.6% consisting primarily of comparable sales growth.
Looking ahead into the full year 2019, the company expects sales growth in the range of 3% to 4% and adjusted sales growth of 4% to 5%, before an expected headwind from currency translation of 1%. Earnings are anticipated to be in the range of $5.75 to $5.90 per share and adjusted earnings are predicted to be $5.81 to $5.96 per share before the impact of the 1% currency headwind. The tax rate is now projected to be about 25% in 2019.
“We also completed our first full year of operations in Europe and successfully combined EIS into Motion Industries to form a larger and stronger industrial business. With these and other accomplishments, and our plans in place for the new year, we are well-positioned to further strengthen our global platform in 2019, driving long-term sustainable growth and significant value for our shareholders,” Chief Executive Paul Donahue said.
Shares of Genuine Parts ended Friday’s regular session up 1.80% at $107.59 on the NYSE. The stock has risen over 7% in the past year and over 5% in the past three months. On Friday, the stock has reached a new 52-week high of $107.60, which is its all-time third highest.