Genuine Parts Company (NYSE:GPC) Q4 2022 Earnings Call Transcript

Bert Nappier: Yes, Seth, this is Bert. That’s right. We’re thinking about that total automotive segment out of 4% to 6%. And within that, we would be in the same range for the U.S. business.

Seth Basham: Got it. Okay. And then lastly, in terms of the miles driven outlook, how are you thinking about miles driven and obviously, a key driver of U.S. NAPA of sales?

Paul Donahue: Well, I would tackle that, Seth. We’re hoping to see a little bit of a lift, which we did see in the latter part of the year as fuel prices started to abate a bit here in the U.S. So I still think there’s a bit of a reluctance for mass transit, not to mention air travel and air fares are at all-time high. So I think that a 1% lift would not be out of the realm of possibility. So we think it will be a tailwind in ’23, for sure.

Seth Basham: Wonderful. Thank you very much for your answers. And good luck.

Operator: Ladies and gentlemen, this concludes our question-and-answer session. I would like to turn the conference back over to management for any closing remarks.

Paul Donahue: Yes. Thanks, Chad. We appreciate it. Appreciate all the questions and everyone joining us this morning. As you’ve heard, we’re incredibly pleased with the reported record year for GPC, and we could not be prouder of the great work done by all of our teammates around the world. We continue to be excited with the momentum this business continues to generate, and I would just conclude by saying, the future is very, very bright for GPC. So I hope you all have a great day wherever you are, and hope to see you at our Investor Day meeting here in March. All the best.

Operator: Thank you. The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.