full quarter Thank call. Welcome you, morning. Tim, year XXXX earnings and good our fourth to and
take a GPC express Before we to teammates to world. get into our moment the want the details gratitude I over around to of my our XX,XXX results,
are commitment serving customers success. foundation dedication the of work, unwavering our Your to and hard our
and culture have do, we everything of of we heart the at are service integrity performance, people a teamwork. Our and
globe investments across organization. in These made teams strengthening we are by helping the making meaningful stronger in focused all our a investments people In levels. build strides talent at XXXX,
company. and the chain. highly recent of Up our of our a to reported engaged strength our teammates being that engagement an we're proud global priorities emphasis the from culture, supply XX% of investment most talent, share with evidence with our sales X survey, points As in record on
and We're companies core bolt-on coverage, investments our the strengthen added we business value to to and XXX GPC. We moments. our new over talent, We a our I'd will investments disciplined of confident more XXXX, to capabilities acquisitions. moments details highlight that geographic actions and In acquired a complement that value. accomplishments concern in XXXX, our some with quarter XXXX on and fourth take few from the like share to key outlook Bert and continue few
our include or billion, XXXX sales approximately a an to $XXX XXX growth acquisitions basis $XX.X strategic was of in points XXXX. of increased initiatives. our for offset highlights GPC from Total financial our segment. sales were benefit Adjusted conditions, points, margin particularly and Industrial which basis few weak increase sourcing market strategic million driven acquisitions, by A X.X% in and compared Included pricing XX gross
more to We to $X.X conditions, in of global in in XXXX proactively $XX be generated a flow executed market realized strong million cost cash with cash with softer offset and we to which billion operating restructuring savings led XXXX. flows
returned the in the our to share repurchases. form addition of our cash and operating over business, in investment our or flow we In of XX% shareholders million to dividends nearly $XXX
the a the we've of long-term Board sign XXth our X% increased consecutive GPC increase a year this GPC our marking for approved As dividend. confidence morning, in to the outlook dividend,
for with to the by last total of segment. year X.X% year. Global Turning customer In comparable a compared to X% full sales were business in results as weak for reduced down conditions sales billion, $X.X market our Industrial resulted decrease XXXX, demand
MRO core was the XX% which essentially flat for Motion's sales of in XXXX, maintenance year. with accounts business business our Motion's prior Within and approximately
growth. XX% approximately for low single-digit account which customers, account corporate Motion saw Our of sales
of collection and saw and XX paper, diverse growth across and mining end in strength our DC industry pulp logistics. of at X markets, served, we with our Looking
by growth like for our business machinery, single of including softer markets was for value-added capital-intensive service This down year. projects more offset to XX% offering. demand sales equipment metals. in was high Motion and originates The automotive remaining This the and mid- digits
While capital-intensive customers as in remain the certain the portion delay of bullish this spending long-term environment, the projects we've rebound. on seen given business we opportunities customer
basis which points full XX.X% the segment Global decrease of billion, For a prior was $X.X sales, year. was versus Industrial EBITDA year, the of XX
as actions While expansion we're impacted to cost that sales by drive conditions initiatives and be continues pressures, will cost improve. deleverage inflationary profitability strategic and market margin confident our
North Despite versus the approximately points prior XXXX, approximately and year. margin XX%, of EBITDA market delivered in only margin basis XX Motion tough America gross improved down
expanded Over points. by profit the basis X margin Motion years, over has last its XXX
While the about to available us. headwinds, and we're industry temporary Motion the how positioned in energized faces opportunities the is market
We still hold operate in despite reinforces runway we XX% which the for profitable share, in a continued large industry, #X the we and than growth. less market have highly being player fragmented market and significant the
Howe in James executed started James we industry XXXX, ] by the at plan succession During has and a in business rep. the a field President. [ a as XX-year Motion motion as disciplined promoting sales track record
industry. at of the XXX unmatched experience specialists market they to our located The of Motion importantly, senior accountant leadership are has instances, in in team product go associates keep customers' many running the Recall, years Motion technical cumulative motion team smoothly. facilities. equipment create businesses as customers' and highly and XXX Most their we utilize tailored that physically an experience our local, with of in to know operations solutions they years
complemented technical offers as leaves believe branches support centers location. distribution customer type with local our and or solutions and value-added by unparalleled national as proposition network scale regardless size, industry offering, inventory, in value well its both the we of capabilities, of best Motion investment the Motion
further SKUs depth inventory our In improving expanded we over inventory XX,XXX of simultaneously XXXX, by while efficiency.
get in our located inventory them right up markets the back at we're and ensure running. to the strategically facility enables Our promptly to right network customers'
addition help their improve and MRO the solutions, operations, serves offering, and robust its drive maintenance productivity customers traditional customers a Motion also our with In create where value. value-add service to we
designing and as systems and includes delivering solve customer conveyor to power This such specific fluid automation systems, and systems applications. electrical solutions
Motion Additionally, risk to times critical help customers minimize solutions predictive part them maintenance of preventative the cycle an offers operations. sensors health We've customers' our the and the of into unexpected of that and its thousands give failure. insights their into installed facilities
and maintenance solutions This to new These extends diagnose its the state-of-the-art customers facility designed and with and including offering their our helping its on optimize perform works cause throughput Motion hand-in-hand machinery productivity, proper root equipment. their problems improve advantage with installation customers to are of service our repair Houston. team of and train in repairs operations. competitive teams
to Key full our solutions coordinated services include leadership where ability core provide distribution cement motion approach team markets we customer a This we mining, our seamless and our steel, customer. value-add In offering and each to with end experience. to paper deliver these mills. our realigned ensure XXXX, improves differentiated
near-term While industrial drive ability our challenged, for Motion's market and the conditions remain customers. value we're headwinds in to to continue confident navigate
with We're trends as optimistic cautiously in and of us X well industrial at broad leadership unmatched see opportunities position advancing about nearshoring, portfolio opportunities what's January to months PMI capitalize around coupled us solutions scaled with XX.X%. to have growth sequential on activity with Our for technical recovers. Motion. improvement excited This, of position, expertise ahead
However, prudent additional until cautious to with we clear. market our sustained believe a be is evidence it's enthusiasm recovery of
to basis X% billion, of Turning compared acquisitions, increase growth. were XXX Global largely XXXX last and year. comprised segment. comparable was from benefit growth points $XX.X Automotive to of in an of the U.S. Total flat approximately in the Automotive sales sales sales a
continued a in comparisons. The year-over-year moderation our in to the from sales benefit factor be inflation
global remained below XXXX. sales automotive expected, inflation As throughout X%
full decrease versus was of the $X.X Automotive EBITDA segment XXXX. For was points billion, Global of a XX year, sales, X.X% which basis
pressures results soft market global a Our particularly pressures, automotive U.S. ongoing cost and environment and in reflect Europe the for from
geography. Now XXXX X% were turn comparable sales our up total flat sales roughly automotive growth. performance U.S., in let's the by Starting approximately to in with business
low our customer fleet to while were was low government were AutoCare commercial and do-it-yourself out to while customers NAPA saw other During flat and digits. growth our sales single the we flat. single-digit sales wholesale year, down commercial, segments, Within out customers in
improvement sales single low but account down half digits, were back the of sequential through showed Major year. the
company-owned approximately Looking both from sales at performed stores sales our comparable into for flat relatively out other, independent stores and year. each store comparable sales, line with the in
performance to our Turning the category product for year.
year. prior categories, We of General of also accounts which maintenance from in digits to XX% our categories single up Napa's versus low and digits XXXX. up approximately chemicals, were approximately see for which relative low continue filters like braking, represents nondiscretionary and our We single the service repair XX% business, strength business,
XX% continue we down demand see represent in of softer business, categories, lastly, year. mid-single from which digits last And the discretionary to approximately
we than XXXX While the capabilities, the position market expected, in progress we've market. were and Napa's softer made to proved service improve encouraged growth to be by
has mindset driven inventory in service internal metrics our levels, delivery. on-time material improvement and stocking back-to-basics around customer Our
right points safety we're DCs, this ensure XXX more levels in stores by our flowing our for did place almost the and time. right in we through metrics approximately notable to operations XX%. current As right service while internal basis the And improved XXXX, an making our to example, the improving progress have our improved of investing metric the facilities from in all we inside DCs and our product inventory at part
key make ensuring delivery position the experience We're center, and of continue high in to success. much to of long-term While investing distribution our Napa completed in of the XXXX at across us chain improve business the investments level, growing the the are capacity to focus demand key executing at support we speed in customer a aspects Indianapolis the at for and supply customer expansion increasing markets. Napa we was
This and upgrade, technology will includes which cost drive significant productivity. automation inventory and facility a efficiencies
a equipment scale in addition, launch hand to a leveraging further growing opportunity. tool industry service to global our and and in on professional will offering we're us that capitalize allow XXXX, large In
expected. gross we'll margin the are track benefit operations. total, we've into progress plans In local strategies. We've been XXXX, control and the the post-close integrated with our targets. pleased date, of of of stores transactions and approximately operating delivered MPAC integration acquisition Walker execute sales, margin financial as continue enables Our to to profit technology to consistent operational on platforms. Napa relative In XX% and which and
like and consumer persistent growth. car miles vehicle pressure aftermarket long-term automotive the driven new and from rates to While including supportive of remain fundamentals high interest aging the broader industry pricing. inflation, park macro feel continues and headwinds cost high and used increasing
industry engine increase. continues In commercial as we to the complexity customers the view addition, growth of as of vehicles the
XXXX, than more from operates position of Napa centers. approaching concentrated in of X,XXX care supported with locations business strength backdrop, what and our store more auto truly history, next our celebrate this this celebrate we're milestone, XXX by going In of With thrilled a XX,XXX excited to bring. XX% is of commercial, We're the network MAPR XXX for to years will years a remarkable even accomplishment. but
XXXX, power a results throughout account in backdrop, local bolt-on total sales of lack XXXX, As accomplishment million, sales growth XXXX, testament weak launch resulted Europe, were XXX versus ongoing and since the XX% brand the its we we the currency, with X aftermarket. results branded market we NAPA EUR the our In including and look remarkable wins, our These In flat growth. navigated key to expanding of to execution a acquisitions. comparable X% NAPA In outside a at initiatives, Napa U.S. XXXX in brand. economic for a years reflect the grew sales which of up ago strategic
to over X market a this Asia years. international our other has positions a X our geographies, far Napa In over despite climbing has and and continue Europe enjoy Pacific of market in and challenging see path Napa sales to conditions. XX% rollout across penetration expectations. represent market The branded exceeded of we been to in we the XX% of leading a Canada, now can differentiator, especially challenging Europe next approximately our sales competitive
local in of currency X%. Pacific, Asia comparable up sales sales growth in with XXXX X% In increased approximately
their strong execute delivering Our and been consecutive level at invest the operating growth. high has Pacific in leverage double-digit future of to consistently fifth Their a ability deliver instrumental for year drive and continues profit to market strategically gains, team Asia success. their share
local In sales Canada, down in growth approximately approximately currency, X% sales increased with total XXXX X%. comparable in
backdrop macroeconomic execute team Canadian a more consumer. to Our cautious continues well softer despite and a
around and I the acquisitions. As mentioned, investment our and complemented accomplishments in world bolstered are results by technology by strategic
XXXX hallmark have Acquisitions been no different. a GPC of and was
NAPA our progress of owners. our mostly here from completing stores our made more the own more year, to XXX on the independent we initiative During in of than the acquisition stores, U.S.,
independently is balance U.S. the being in XX% the company-owned with stores. footprint our now approximately store Our owned
XX-XX time, continuing independent role Over a a our we in our mix. closer to and bring With our to network markets. critical play network, a rural path smaller to see in particularly always owners more
bolt-on acquired to X upon its technical solutions we've In addition, remained in acquisitions capabilities, to Motion XXXX and and start XXXX. active value-added build
believe profile automotive our part enjoy and growth strong markets will M&A sheet. an a large both in X important of forward, we fragmented Going We our to continue balance industrial of and in business. play and the flexibility play
our and commercial us our are advancing global improving to investments M&A, Beyond Google experience, a we're seamless on capabilities well. technology year, deliver more focused catalog customers. Enabling in Cloud. for This search particularly using
they enhancements now cancellations returns. made leading manual our And without learning for and commercial machine what leveraging that within find our our help catalog help continuously material lower to examples, the we've order customers data we're automation need to automotive improve need entry. As catalog, itself and
we search, search specific focused build Cloud commercial used Within Google on experience, an automotive our customers. to
Xx of progress better. our are Xx other make us where cost. faster, recent within accurate technology at the numerous There investments faster, smarter, search are all more leveraged to results Our examples we've scale now global half
global recent HR Workday rollout HR of example, our to company-wide a simplified For platform XX to completion one. that create the standardized platforms disparate with
pricing, capabilities in XXX inventory, comprised at that savings. and resulted technology we've but Tech the cybersecurity. added global center across capabilities has speed ramped tech also Poland of cost search our addition, initiatives and nearly only Center In catalog, up lead our now Not engineers material
tech our critically performance we've improved visible, as core scalability. simplify important, Less but stability, material we've to made progress infrastructure and
profitability ahead organic customer our to build our Looking XXXX, cost growth drive by market momentum expanding into improving discipline. enhancing share proposition, we through and have on value opportunities and
improvement we a progresses. While XXXX, in assumptions Bert for of European we conditions our through market conditions year gradual both minutes. you market expect of first our and few half persist the in of improvement the aspect details anticipate key rebound the is walk A to industrial will soft into outlook a the the landscape. as in
long-term in strategic improving our creation. value actions investments growth reflect commitment and continued driving Our initiatives will these We're to efficiency. confident growth support sustainable and
investments, strategic urgent and committed environment balancing to While also prudent the long-term current our we're with cost actions.
year at last the progressed announced savings plan, of expectations. efforts end cost ahead restructuring global of Our high have delivering
us by were of we focus Collectively, operations Today, will while savings our $XXX announced across an XXXX. XXXX. impacted XXXX conditions, full for and challenging savings summary, approximately cost by we've In progress targeting continue that annualized results productivity. additional and actions operational position in our encouraged we're XXXX efforts in simplify our million $XXX to we're across in beginning $XXX year improve to the financial million business. market million These our made our
financial discipline service exceptional customer GPC's continue legacy and to operational excellence, of guide us.
businesses supportive in well while on including allocation competitive We capital industry on focused our by size, and pursuing long-term capital positioned shareholders and to and industrial as and a to expertise business, automotive value remain strategy, our creating global fundamentals through growth a accretive opportunities, market-leading capitalize through driven our balanced advantage. M&A dividend. long-standing disciplined scale returning Our leveraging are reinvesting
beyond. their and look and building their our for In our to Bert. I'll to the trust to XXXX our want our And dedication now customers over well continued We serving and closing, GPC continued turn on momentum teammates support. for thank forward to to I hard in and call work shareholders
