[{"_1":2,"_3":-5,"_4":-5},"loaderData",{"_5":6,"_7":8},"actionData","errors","root",{"_97":98},"en-item",{"_9":10,"_10":11},"kind","item",{"_12":13,"_14":15,"_16":17,"_18":19,"_20":21,"_22":23,"_24":25,"_26":27,"_28":29,"_30":31,"_32":31,"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":-5,"_48":49,"_50":-5,"_51":-5,"_52":53,"_54":55,"_56":57,"_58":42,"_59":42,"_60":61,"_62":42,"_63":64},"id","vsi5jevf31m111imbb79jm8a5","revision",2,"title","Genuine Parts 2026年第三季度及前九个月业绩：净销售额增长，净收入和摊薄每股收益下降；计划于2027年第一季度分拆业务","originalTitle","GENUINE PARTS CO (0000040987) (Filer)","summary","Genuine Parts截至2026年9月30日的前九个月净销售额为193.23亿美元，同比增长5.6%；净收入为6.41亿美元，同比下降5.2%，摊薄每股收益为4.64美元，同比下降4.3%。同期经营现金流为8.17亿美元，同比增长59.9%。公司计划于2027年第一季度分拆为全球汽车和全球工业两家独立上市公司。","reason","材料呈现了Genuine Parts截至2026年9月30日的季度及九个月业绩、现金流和债务情况，并提及计划于2027年第一季度分拆业务。","source",{"_12":88,"_89":90,"_9":91,"_92":42,"_93":94,"_95":96},"links",{"_85":86,"_77":87},"publishedAt","2026-10-20T15:03:11.000Z","discoveredAt","2026-10-20T16:36:02.862Z","timelineAt","category","ai-products","tags",[83,84],"stockSymbols",[82],"score",76,"selected",true,"channel","news","story",{"_72":73,"_16":74},"x","readingMode","full","author","language","body",{"_64":76,"_77":-5,"_78":79,"_80":81},"outline",[],"relatedStories",[75],"indexable","markdownAvailable","group",{"_65":66,"_45":67,"_68":15,"_69":70,"_71":70},"hasTranslation","bodyLanguage","zh","factId","f8UzDShDMX90",{"_72":73,"_16":74},"reportCount","additionalSourceCount",0,"developmentCount","publicId","60e4bdef-d8b7-4c1a-9009-35ea1bfbcb54","Genuine Parts 2026年第三季度财报发布",{"_72":73,"_16":74},"

美国

证券交易委员会

华盛顿特区 20549

表 10-Q


☒	根据《1934 年证券交易法》第 13 条或第 15(d) 条提交的季度报告

截至 2026 年 9 月 30 日的季度

或


☐	根据《1934 年证券交易法》第 13 条或第 15(d) 条提交的过渡报告

从至

委员会文件编号：1-5690

__________________________________________

真实零件公司

（注册人章程中指定的全名）

__________________________________________

58-0254510

（州或其他司法管辖区）

的成立或组织）

（美国国税局雇主

识别号码）

2999 WILDWOOD PARKWAY,

30339

亚特兰大,

（主要执行办公室地址）

（邮政编码）

678-934-5000

（注册人的电话号码，包括区号）

根据《法案》第 12(b) 条注册的证券：

每类证券的名称

交易符号

每种证券的注册交易所名称

普通股，每股面值 1.00 美元

GPC

纽约证券交易所

通过勾选方框表明注册人（1）是否已提交根据《1934 年证券交易法》第 13 条或第 15(d) 条在前 12 个月（或注册人需提交此类报告的较短期间）要求提交的所有报告，以及（2）是否在过去 90 天内受到此类提交要求的约束。是 ☒ 否 ☐

通过勾选方框表明注册人是否在前 12 个月（或注册人需提交此类文件的较短期间）内提交了根据第 405 条《S-T 规则》（本章第 232.405 条）要求提交的每个交互式数据文件。是 ☒ 否 ☐

通过勾选方框表明注册人是大型加速提交者、加速提交者、非加速提交者、较小报告公司还是新兴成长公司。请参见《交易法》第 12b-2 条中对“大型加速提交者”、“加速提交者”、“较小报告公司”和“新兴成长公司”的定义。

大型加速提交者

☒

加速提交者

☐

非加速提交者

☐

较小的报告公司

☐

新兴成长公司

☐

如果是一家新兴成长公司，通过勾选方框表明注册人是否选择不使用根据《交易法》第 13(a) 条提供的任何新修订的财务会计标准的延长过渡期。 ☐

通过勾选方框表明注册人是否为壳公司（根据《交易法》第 12b-2 条的定义）。是 ☐ 否 ☒

截至2026年10月16日，普通股流通股数为137,864,682股。


目录

第一部分		页码

项目1.	财务报表	2
	合并资产负债表	2
	合并损益表	3
	合并全面收益表	3
	合并股东权益表	5
	合并现金流量表	7
	合并财务报表附注	8
项目2.	管理层讨论与分析	20
项目3.	市场风险的定量和定性披露	31
项目4.	内部控制与程序	31

第二部分

项目1.	法律诉讼	32
项目1A.	风险因素	32
项目2.	未注册的股权证券销售及资金用途	32
项目5.	其他信息	32
项目6.	附录	33
	签名	34

第一部分 – 财务信息

项目1. 财务报表

GENUINE PARTS COMPANY AND SUBSIDIARIES

合并资产负债表

(未经审计)


(千美元，除每股数据外)	2026年9月30日		2025年12月31日
资产
流动资产：
现金及现金等价物	$	763,151			$	477,179
应收账款，扣除坏账准备（2026 – 92,230；2025 – 85,537）	2,619,491			2,370,939
存货，净额	6,435,802			6,071,996
预付费用和其他流动资产	1,632,361			1,644,620
流动资产合计	11,450,805			10,564,734
商誉	3,206,231			3,188,815
其他无形资产，扣除累计摊销	1,743,938			1,855,714
固定资产、厂房和设备，扣除累计折旧（2026 – 2,349,284；2025 – 2,137,108）	2,161,387			2,172,140
经营租赁资产	2,062,454			2,084,487
其他资产	872,340			929,650
资产总计	$	21,497,155			$	20,795,540

负债和权益
流动负债：
应付账款	$	6,394,876			$	6,051,882
短期借款	388,088			943,540
长期债务的本期部分	250,000			353,788
应付股息	148,074			143,291
其他流动负债	2,180,515			2,295,204
流动负债合计	9,361,553			9,787,705
长期债务	4,472,149			3,498,423
经营租赁负债	1,713,902			1,739,478
养老金和其他退休后福利负债	218,787			219,270
递延税负债	368,353			385,948
其他长期负债	703,492			724,353
权益：
优先股，面值 – 每股1美元；授权 – 10,000,000股；未发行	—			—
普通股，面值 – 每股1美元；授权 – 450,000,000股；已发行和流通 – 2026 – 137,864,682股；2025 – 137,617,832股	137,865			137,618
额外 paid-in 资本	259,505			228,370
其他综合损失累计	(518,474)			(511,766)
留存收益	4,770,080			4,568,769
总母公司权益	4,648,976			4,422,991
子公司中的少数股东权益	9,943			17,372
总权益	4,658,919			4,440,363
总负债和权益	$	21,497,155			$	20,795,540

参见附注中的简要合并财务报表。

GENUINE PARTS COMPANY AND SUBSIDIARIES

简要合并损益表

(未经审计)


	截至9月30日的三个月		截至9月30日的九个月
(以千为单位，每股数据除外)	2026		2025		2026		2025
净销售额	$	6,521,308			$	6,260,232		$	19,323,199	$	18,290,726
商品销售成本	4,037,033			3,918,830			12,029,253		11,451,252
毛利	2,484,275			2,341,402			7,293,946		6,839,474
运营费用：
销售、行政及其他费用	1,944,518			1,805,928			5,718,856		5,286,802
折旧和摊销	137,490			127,475			403,234		365,928
坏账准备	9,238			6,871			27,339		20,351
重组及其他费用	64,545			66,835			193,426		167,317
总运营费用	2,155,791			2,007,109			6,342,855		5,840,398
非运营费用（收入）：
净利息费用	45,970			40,342			135,723		117,769
其他	3,866			2,258			(2,503)		(580)
总非运营费用	49,836			42,600			133,220		117,189
税前收入	278,648			291,693			817,871		881,887
所得税	54,201			65,522			177,331		206,444
净收入	$	224,447			$	226,171		$	640,540	$	675,443
基本每股收益	$	1.63			$	1.63		$	4.65	$	4.86
稀释每股收益	$	1.62			$	1.62		$	4.64	$	4.85

参见附注中的简要合并财务报表。

GENUINE PARTS COMPANY AND SUBSIDIARIES

简要合并综合收益表

(未经审计)


	截至9月30日的三个月	截至9月30日的九个月
(以千为单位)	2026		2025	2026		2025
净收入	$	224,447			$	226,171	$	640,540	$	675,443
其他综合收益（损失），税后：
外币折算调整，税后（2026年——$(1,771)和$16,353；2025年——$2,075和$(55,033)）	31,987			(14,804)		(2,693)		171,353
养老金和退休后福利调整，税后（2026年——$702和$(1,463)；2025年——$1,326和$(3,978)）	(1,929)			3,681		(4,015)		11,048
其他综合收益（损失），税后	30,058			(11,123)		(6,708)		182,401
综合收益	$	254,505			$	215,048	$	633,832	$	857,844

参见附注中的简要合并财务报表。

GENUINE PARTS COMPANY AND SUBSIDIARIES

简要合并权益表

(未经审计)


	截至2026年9月30日的三个月
(以千为单位，除股份和每股数据外)	普通股股数	普通股金额		额外实收资本	其他综合损失累计		留存收益		总母公司权益		子公司中的少数股东权益	总权益
2026年7月1日	137,859,581		$	137,860		$	244,572			$	(548,532)		$	4,692,112		$	4,526,012		$	17,777	$	4,543,789
净收入	—		—		—			—			224,447		224,447		—			224,447
其他综合损失，税后	—		—		—			30,058			—		30,058		—			30,058
现金股息宣布，每股$1.0625	—		—		—			—			(146,479)		(146,479)		—			(146,479)
从员工激励计划中发行的股份	5,101		5		(464)			—			—		(459)		—			(459)
基于股份的薪酬	—		—		15,397			—			—		15,397		—			15,397
少数股东权益活动	—		—		—			—			—		—		(7,834)			(7,834)
2026年9月30日	137,864,682		$	137,865		$	259,505			$	(518,474)		$	4,770,080		$	4,648,976		$	9,943	$	4,658,919


	截至2026年9月30日的九个月
(以千为单位，除股份和每股数据外)	普通股股数	普通股金额		额外实收资本	其他综合损失累计		留存收益		总母公司权益		子公司中的少数股东权益		总权益
2026年1月1日	137,617,832	$	137,618		$	228,370			$	(511,766)			$	4,568,769			$	4,422,991		$	17,372		$	4,440,363
净收入							640,540			640,540			—			640,540
其他综合损失，税后					(6,708)					(6,708)			—			(6,708)
现金股息宣布，每股3.1875美元					—			(439,229)			(439,229)			—			(439,229)
从员工激励计划发行的股票	246,850		247		(13,960)							(13,713)			—			(13,713)
基于股票的薪酬				45,095						45,095			—			45,095
非控股权益活动									—			(7,429)			(7,429)
2026年9月30日	137,864,682		$	137,865		$	259,505			$	(518,474)			$	4,770,080			$	4,648,976		$	9,943		$	4,658,919


	截至2025年9月30日的三个月
（千为单位，除每股数据外）	普通股股数	普通股金额		额外实收资本	累计其他综合损失		留存收益		母公司权益总额		子公司中的非控股权益	权益总额
2025年7月1日	139,092,221	$	139,092		$	205,146			$	(1,068,219)		$	5,426,894		$	4,702,913			$	16,005		$	4,718,918
净收入	—		—		—			—			226,171		226,171		—			226,171
其他综合收益，税后	—		—		—			(11,123)			—		(11,123)		—			(11,123)
现金股息宣布，每股1.03美元	—		—		—			—			(143,271)		(143,271)		—			(143,271)
从员工激励计划发行的股票	18,278		19		(1,081)			—			—		(1,062)		—			(1,062)
基于股票的薪酬	—		—		13,003			—			—		13,003		—			13,003
非控股权益活动	—		—		—			—			—		—		2,491			2,491
2025年9月30日	139,110,499		$	139,111		$	217,068			$	(1,079,342)		$	5,509,794		$	4,786,631			$	18,496		$	4,805,127


	截至2025年9月30日的九个月
（千为单位，除每股数据外）	普通股股数	普通股金额		额外实收资本	累计其他综合损失		留存收益		母公司权益总额		子公司中的非控股权益	权益总额
2025年1月1日	138,779,664	$	138,780		$	196,532			$	(1,261,743)		$	5,263,838			$	4,337,407			$	14,444		$	4,351,851
净收入	—		—		—			—			675,443		675,443			—			675,443
其他综合收益，税后	—		—		—			182,401			—		182,401			—			182,401
现金股息宣布，每股3.09美元	—		—		—			—			(429,487)		(429,487)			—			(429,487)
从员工激励计划发行的股票	330,835		331		(16,647)			—			—		(16,316)			—			(16,316)
基于股票的薪酬	—		—		37,183			—			—		37,183			—			37,183
股票购买	—		—		—					—		—			—			—
非控股权益活动	—		—		—			—				—			4,052			4,052
2025年9月30日	139,110,499		$	139,111		$	217,068			$	(1,079,342)		$	5,509,794			$	4,786,631			$	18,496		$	4,805,127

参见附注中的简要合并财务报表。

GENUINE PARTS COMPANY AND SUBSIDIARIES

简要合并现金流量表

（未经审计）


	截至2025年9月30日的九个月
（千为单位）	2026		2025
经营活动：
净收入	$	640,540			$	675,443
调整以将净收入重新计算为经营活动中提供的净现金：
折旧和摊销	403,234			365,928
基于股票的薪酬	45,095			37,183
其他经营活动，包括经营性资产和负债的变化	(272,222)			(567,865)
经营活动中提供的净现金	816,647			510,689
投资活动：
购置物业、厂房和设备	(314,476)			(350,443)
出售物业、厂房和设备所得	28,070			21,085
收购企业	(69,450)			(181,987)
出售企业的所得	6,885			59
其他投资活动	(12,105)			23,335
投资活动中使用的净现金	(361,076)			(487,951)
融资活动：
债务所得	1,291,217			44,600
债务支付	(997,776)			(567,368)
商业票据的净所得	44,968			886,175
从员工激励计划发行的股票	(13,713)			(16,316)
支付的股息	(434,446)			(420,571)
其他融资活动	(29,283)			(20,237)
融资活动中使用的净现金	(139,033)			(93,717)
汇率变动对现金及现金等价物的影响	(30,566)			22,347
现金及现金等价物的净增加（减少）	285,972			(48,632)
期初现金及现金等价物	477,179			479,991
期末现金及现金等价物	$	763,151			$	431,359

参见附注中的合并简要财务报表。

合并简要财务报表的附注

1. 一般情况

列报基础

附带的未经审计的合并简要财务报表是根据10-Q表格的说明编制的，因此不包含根据美国通用会计准则（“美国GAAP”）要求的完整财务报表所需的所有信息和脚注。除本文件中披露的内容外，我们截至2025年12月31日的年度报告10-K表格中包含的合并财务报表附注中披露的信息没有发生重大变化。因此，未经审计的合并简要财务报表和相关披露应与我们2025年年度报告10-K表格一并阅读。

2026年2月17日，我们宣布有意将公司分拆为两家独立的上市公司：全球汽车业务和全球工业业务。全球汽车业务将包括我们的北美汽车业务和国际汽车业务部门，而全球工业业务将包括我们的工业部门。该交易旨在使美国联邦所得税目的下的公司股东能够免税。分拆预计将在2027年第一季度完成，但需满足某些常规和监管条件。无法保证任何分拆交易最终会发生，或者如果发生，也无法保证其条款或时间安排。我们的合并简要财务报表和相关脚注未反映拟议的分拆。

编制中期财务报表需要管理层做出影响未经审计的合并简要财务报表中报告金额的估计和假设。具体而言，我们在未经审计的合并简要财务报表中对库存调整、坏账准备、担保贷款的信用损失、客户销售退回、已获得的销量激励以及与石棉相关的产品责任等进行估计和假设。库存调整（包括大多数按后进先出（“LIFO”）方法计价的库存调整）在中期计提，并在第四季度根据年度账面与实际库存调整和LIFO估值进行调整。坏账准备、担保贷款的信用损失和客户销售退回的准备金根据历史经验、当前状况和合理且有依据的预测在中期计提和估计。销量激励基于累计和预期的采购水平进行估计。

某些上年同期的金额已重新分类，以符合本年度的列报方式。这些重新分类对之前报告的总资产、总负债、经营成果、全面收益或经营、融资或投资活动产生的净现金流量没有影响。

管理层认为，为公允列示我们期间财务结果所需的所有调整均已作出。这些调整属于正常经常性性质。截至2026年9月30日的三个月及九个月的运营结果不一定反映截至2026年12月31日的年度结果。我们已评估截至本季度报告所涵盖的未审计合并财务报表发布之日的后续事件。

近期会计准则

美国通用会计准则（U.S. GAAP）的变更由财务会计准则委员会（“FASB”）以《财务会计准则委员会会计准则汇编》（“ASC”）的会计准则更新（“ASU”）形式确立。我们考虑了所有ASU的适用性和影响，以下未列出的ASU经评估后确定不适用或预计对我们合并财务报表的影响不重大。

利润表—报告综合收益—费用分解披露（子主题220-40）：利润表费用的分解

2024年11月，FASB发布了ASU 2024-03，利润表—报告综合收益—费用分解披露（子主题220-40）：利润表费用的分解。该标准要求在财务报表附注中，在每个中期和年度报告期间披露有关某些成本和费用的指定信息，包括每个相关费用标题中包含的存货采购、员工薪酬、折旧和无形资产摊销。还要求对相关费用标题中未单独分解的金额进行定性描述。该指南适用于所有公众实体在2026年12月15日之后开始的财年，以及在2027年12月15日之后开始的中期期间，允许提前采用。该指南应在本更新生效后的财务报表中前瞻性应用，或对财务报表中列示的所有先前期间进行追溯应用。

期间，我们正在评估采用该标准对我们的财务报表和披露的影响。

无形资产—商誉和其他—内部使用软件（子主题350-40）：对内部使用软件会计的针对性改进

2025年9月，FASB发布了ASU 2025-06，无形资产-商誉和其他-内部使用软件（子主题350-40）：对内部使用软件会计处理的针对性改进。此次更新提供了修订后的指导方针，旨在细化与内部使用软件相关成本的会计处理。该更新消除了单独项目阶段的概念，并要求一旦（1）管理层授权并承诺资助计算机软件项目，且（2）该项目很可能完成，并且软件将按预期执行功能，就应开始将软件成本资本化。在评估项目完成的可能性时，实体必须仔细考虑开发中的任何重大不确定性。此外，该指导方针规定，固定资产、厂房和设备的披露要求适用于资本化的软件成本。新标准将于2028年第一季度生效，尽管在任何年度报告期开始时允许提前采用。实体可以采用前瞻性应用、追溯应用或修改后的过渡方法来采用该指导方针。我们正在评估采用该标准对我们的财务报表和披露的影响。

中期报告（主题270）

2025年12月，FASB发布了ASU 2025-11，中期报告（主题270）。此次更新提高了中期报告和主题270适用性的清晰度和组织性。它还明确了中期财务报表所需的格式和内容，包括要求实体披露自上一个年度报告期结束以来对实体有重大影响的事件。该标准适用于2027年12月15日之后开始的年度期间内的中期报告期，允许提前采用。实体可以采用前瞻性或追溯性方式应用该更新。我们正在评估采用该标准对我们的财务报表和披露的影响。

预付费用和其他流动资产

下表提供了截至以下日期在合并资产负债表中报告的预付费用和其他流动资产的详细信息：


（以千为单位）	2026年9月30日		2025年12月31日
预付费用	$	178,335			$	150,014
来自供应商的应收款	848,958			907,321
其他流动资产	605,068			587,285
预付费用和其他流动资产总额	$	1,632,361			$	1,644,620

衍生工具和对冲

我们面临来自业务运营和市场状况的各种风险，包括某些外币的波动。我们使用衍生工具和非衍生工具作为风险管理工具，以减轻外汇汇率风险的潜在影响。使用这些工具的目的是减少与这些汇率变动相关的收益和现金流波动。衍生工具在合并资产负债表中按公允价值确认，并在公允价值层级中被指定为第2级。它们的估值使用除报价以外的输入值，例如外汇汇率和收益率曲线。

下表总结了衍生工具和以外币计价的债务（非衍生金融工具）的分类和持有金额，这些工具被指定并符合对冲关系的一部分（以千为单位）：


		2026年9月30日		2025年12月31日
工具	资产负债表项目	名义金额		余额		名义金额	余额
净投资对冲：
远期合约	预付费用和其他流动资产	$	787,001		$	23,447	$	245,960	$	7,146
远期合约	其他流动负债	$	979,525		$	18,812	$	1,633,396	$	66,516
外币债务	长期债务	€	475,000		$	538,745	€	475,000	$	558,030

以下表格展示了与净投资对冲相关的税前收益和损失：


	在重新分类前确认在其他综合收益中的收益（损失）		因排除项目确认在利息费用中的收益
（以千为单位）	2026		2025		2026		2025
截至2026年9月30日的三个月
净投资对冲：
远期合约	$	2,788			$	8,163		$	5,425	$	5,939
外币债务	3,895			(333)			—		—
总计	$	6,683			$	7,830		$	5,425	$	5,939


	在重新分类前确认在其他综合收益中的收益（损失）		因排除项目确认在利息费用中的收益
（以千为单位）	2026		2025		2026		2025
截至2026年9月30日的九个月
净投资对冲：
远期合约	$	42,423			$	(144,923)		$	16,863	$	17,453
外币债务	19,285			(62,748)			—		—
总计	$	61,708			$	(207,671)		$	16,863	$	17,453

金融工具的公允价值

截至2026年9月30日和2025年12月31日，我们的高级无担保债券的公允价值分别约为36亿美元和38亿美元，这些债券在公允价值层级中被指定为第二层级。我们的估值方法主要基于涉及相同或可比资产或负债的可观测交易产生的价格和其他相关信息。

在2025年12月我们的美国养老金计划结算后，我们持有一只短期债券基金，该基金被指定用于支付我们美国定义贡献计划的未来缴款。该债券基金在合并资产负债表的其他资产中被归类为非流动可供出售（\"AFS\"）债务证券。截至2026年9月30日和2025年12月31日，AFS债务证券的公允价值分别为2.45亿美元和2.43亿美元。在每个日期，公允价值与摊余成本之间的差异可以忽略不计。

担保

我们担保某些独立控制的汽车零部件商店和企业的借款（“独立企业”）。在这些独立企业的借款尚未偿还时，我们需遵守某些契约。截至2026年9月30日，我们已遵守所有这些契约。

截至2026年9月30日，由我们提供担保的独立实体的总借款约为4.84亿美元。这些贷款通常在1年至6年的期限内到期。我们定期监控这些贷款的表现以及参与担保计划的独立实体的持续经营成果、财务状况和信用评级机构的评级。如果我们需要就这些担保支付款项，我们将获得并变现独立实体提供的某些担保物（例如应收账款和存货），以收回担保下支付金额的全部或大部分。我们根据历史经验、当前状况、任何担保物的性质和预期价值以及合理且有依据的预测，对担保贷款组合中贷款生命周期内的预期信用损失确认负债。到目前为止，我们在担保独立实体借款方面没有出现重大损失，而预期信用损失准备金并不重大。截至2026年9月30日，没有重大担保贷款的借款人正经历财务困难，且预计通过担保物的运营或出售将提供回收。

截至2026年9月30日，我们已就与独立实体借款相关的担保确认了2700万美元的某些资产和负债。这些资产和负债包含在合并资产负债表中的其他资产和其他长期负债中。这些负债与我们根据担保计划随时准备履行的非或有义务有关，它们与我们的预期信用损失准备金是不同的。

供应链金融计划

多家全球金融机构提供自愿的供应链金融（“SCF”）计划，使我们的供应商（通常为提供延期付款条款的供应商）可以自行决定，以非追索方式将其对我们应收款项出售给这些金融机构，其利率利用了我们的信用评级，可能对其有利。无论供应商是否选择参与SCF计划，我们与供应商就我们采购的商品和服务的商业条款达成一致，包括价格、数量和付款条件。我们目前与大多数供应商的付款条款为30至360天。供应商根据约定的合同条款向我们销售商品或服务，并据此向我们开具相关发票。如果他们参与SCF计划，供应商可自行决定是否将其任何发票出售给金融机构。作为回应，我们向金融机构支付发票款项，而不是直接向供应商支付。在SCF计划下，我们或我们的任何子公司不对第三方的履约提供担保；然而，我们保证我们的子公司向参与SCF计划的金融机构支付相关发票的款项。我们对供应商是否选择参与SCF计划的决定没有经济利益，且我们与金融机构在SCF计划方面没有直接的财务关系。因此，选择参与SCF计划的供应商应收款包含在我们简明合并资产负债表中的“应付账款”项目中。

与选择参与SCF计划的供应商应付款项相关的所有活动均反映在我们简明合并现金流量表的经营活动现金流中。截至2026年9月30日和2025年12月31日，对金融机构的未付款义务分别为32亿美元和31亿美元。截至2026年9月30日止九个月和2025年9月30日止九个月，通过SCF计划结算的金额分别为30亿美元和32亿美元。


（以千为单位）	2026年9月30日
期初未付款项	$	3,129,794
期间确认的发票	3,029,307
期间支付的确认发票	(2,963,769)
期末确认的未付款项	$	3,195,332

每股收益

我们通过将净收入除以加权平均流通普通股数来计算基本每股收益。某些已发行的股票奖励未包含在稀释每股收益计算中，因为其包含将产生反稀释效果。未包含在稀释每股收益计算中的反稀释普通股等价物并不重要。

下表总结了基本和稀释的流通股数：


	截至2026年9月30日的三个月		截至2026年9月30日的九个月
（以千为单位，每股数据除外）	2026		2025		2026		2025
净收入	$	224,447			$	226,171		$	640,540	$	675,443

加权平均流通普通股数	137,862			139,099			137,753		138,959
股票奖励的稀释效应	469			307			351		298
稀释性假设下的加权平均普通股总数	138,331			139,406			138,104		139,257
基本每股收益	$	1.63			$	1.63		$	4.65	$	4.86
稀释每股收益	$	1.62			$	1.62		$	4.64	$	4.85

2. 分部信息

北美汽车分部

下表列示了我们报告的北美汽车分部财务信息摘要：


	截至9月30日的三个月		截至9月30日的九个月
（以千为单位）	2026		2025		2026	2025
净销售额	$	2,540,319		$	2,484,591	$	7,440,587	$	7,193,749
销售成本	1,546,860		1,511,467		4,548,704	4,394,276
毛利	993,459		973,124		2,891,883	2,799,473
运营费用	799,599		773,498		2,333,490	2,256,352
息税折旧及摊销前利润	$	193,860		$	199,626	$	558,393	$	543,121

毛利率（1）	39.1	%		39.2	%	38.9	%	38.9	%
运营费用占净销售额的百分比	31.5	%		31.1	%	31.4	%	31.4	%
息税折旧及摊销前利润利润率（2）	7.6	%		8.0	%	7.5	%	7.5	%

国际汽车分部

下表列示了我们报告的国际汽车分部财务信息摘要：


	截至9月30日的三个月		截至9月30日的九个月
（以千为单位）	2026		2025		2026	2025
净销售额	$	1,572,392		$	1,505,197	$	4,746,020	$	4,373,208
销售成本	839,041		823,939		2,559,391	2,373,203
毛利	733,351		681,258		2,186,629	2,000,005
运营费用	591,957		546,180		1,750,399	1,584,923
息税折旧及摊销前利润	$	141,394		$	135,078	$	436,230	$	415,082

毛利率（1）	46.6	%		45.3	%	46.1	%	45.7	%
运营费用占净销售额的百分比	37.6	%		36.3	%	36.9	%	36.2	%
息税折旧及摊销前利润利润率（2）	9.0	%		9.0	%	9.2	%	9.5	%

工业分部

下表列示了我们报告的工业分部财务信息摘要：


	截至9月30日的三个月		截至9月30日的九个月
（以千为单位）	2026		2025		2026	2025
净销售额	$	2,408,597		$	2,270,444	$	7,136,592	$	6,723,769
销售成本	1,650,337		1,583,451		4,915,130	4,683,860
毛利	758,260		686,993		2,221,462	2,039,909
运营费用	441,333		401,978		1,273,968	1,188,044
息税折旧及摊销前利润	$	316,927		$	285,015	$	947,494	$	851,865

毛利率（1）	31.5	%		30.3	%	31.1	%	30.3	%
运营费用占净销售额的百分比	18.3	%		17.7	%	17.9	%	17.7	%
息税折旧及摊销前利润利润率（2）	13.2	%		12.6	%	13.3	%	12.7	%

(1)毛利率是毛利占净销售额的百分比。

(2)息税折旧及摊销前利润利润率是息税折旧及摊销前利润（\"EBITDA\"）占净销售额的百分比。

其他信息

下表列示了从息税折旧及摊销前利润到净收入的调整：


	截至9月30日的三个月		截至9月30日的九个月
（以千为单位）	2026		2025		2026		2025
分部息税折旧及摊销前利润
北美汽车	$	193,860			$	199,626		$	558,393	$	543,121
国际汽车	141,394			135,078			436,230		415,082
工业	316,927			285,015			947,494		851,865
公司息税折旧及摊销前利润（1）	(103,521)			(93,374)			(330,859)		(263,131)
利息支出，净额	(45,970)			(40,342)			(135,723)		(117,769)
折旧和摊销	(137,490)			(127,475)			(403,234)		(365,928)
其他未分配成本	(86,552)			(66,835)			(254,430)		(181,352)
税前收入	278,648			291,693			817,871	881,887
所得税	(54,201)			(65,522)			(177,331)		(206,444)
净收入	$	224,447			$	226,171		$	640,540	$	675,443

(1)公司息税折旧及摊销前利润包括与我们总部对业务部门的广泛支持相关的成本以及其他由公司集中管理且未分配到业务分部的成本。这些包括公司级职能的人工成本和其他成本，如高管领导、人力资源、技术、网络安全、法律、公司财务、内部审计和风险管理，以及与石棉相关的产品责任成本和A/R销售协议费用。

下表列示了其他未分配成本的摘要：


	截至9月30日的三个月		截至9月30日的九个月
（以千为单位）	2026		2025		2026		2025
其他未分配成本：
重组及其他费用（2）	$	(64,545)			$	(66,835)		$	(193,426)	$	(167,317)
分离费用（3）	(21,204)			—			(54,912)		—
收购及整合相关费用及其他（4）	(803)			—			(6,092)		(14,035)
其他未分配费用总额	$	(86,552)			$	(66,835)		$	(254,430)	$	(181,352)

（2）有关更多信息，请参阅《简要合并财务报表附注》中的“重组及其他费用”部分。

（3）调整主要反映了与我们于2026年2月17日宣布的全球汽车业务和全球工业业务的计划分离相关的法律和专业服务费用以及高管激励计划费用，该分离预计将于2027年第一季度完成。

（4）调整主要反映了与收购的独立汽车门店整合相关的租赁和其他退出费用。

下表列示了我们报告业务部门的总资产，以及公司及其他未分配调整项目的概要：


	截至9月30日
（以千为单位）	2026		2025
资产：
北美汽车	$	7,043,417			$	6,558,099
国际汽车	4,088,804			3,943,045
工业	2,932,910			2,618,383
公司（5）	2,481,855			2,592,092
商誉和其他无形资产	4,950,169			4,983,249
总资产	$	21,497,155			$	20,694,868
净固定资产：
美国	$	1,284,222			$	1,219,552
欧洲	406,995			416,685
加拿大	211,210			206,304
澳大利亚	257,777			247,870
墨西哥	1,183			1,052
净固定资产总额	$	2,161,387			$	2,091,463

（5）公司是一个调整类别，包括我们的公司办公室、大部分融资活动以及任何未分配至业务部门的其他项目。

下表列示了按报告业务部门以及公司及其他未分配调整项目的部分财务信息概要：


	截至9月30日的三个月		截至9月30日的九个月
（以千为单位）	2026		2025		2026		2025
折旧和摊销：
北美汽车	$	40,932			$	39,873		$	122,648	$	101,262
国际汽车	36,366			31,070			99,964		87,395
工业	11,290			11,477			33,586		30,969


公司	9,643		6,128			28,916		32,713
无形资产摊销	39,259		38,927			118,120		113,589
总折旧和摊销	$	137,490		$	127,475		$	403,234	$	365,928

资本支出：
北美汽车	$	42,228		$	27,208		$	94,954	$	93,691
国际汽车	26,877		48,819			99,907		114,381
工业	6,500		12,712			26,948		31,948
公司	33,480		12,882			92,667		110,423
总资本支出	$	109,085		$	101,621		$	314,476	$	350,443

净销售额：
美国	$	4,222,485		$	4,070,051		$	12,422,370	$	11,915,806
欧洲	1,040,294		1,020,560			3,207,844		3,006,535
加拿大	547,097		519,592			1,636,964		1,530,388
澳大利亚	680,565		623,343			1,963,189		1,762,394
墨西哥	30,867		26,686			92,832		75,603
总净销售额	$	6,521,308		$	6,260,232		$	19,323,199	$	18,290,726

由于我们认为这种披露最能体现净销售额和现金流量的性质、金额、时间和不确定性如何受到经济因素的影响，因此我们的每个报告业务部门的净销售额按地理区域进行细分。下表列示了按报告业务部门划分的来自客户的合同的地理细分净销售额：


	截至9月30日的三个月		截至9月30日的九个月
（以千为单位）	2026		2025		2026		2025
北美：
汽车	$	2,540,319			$	2,484,591		$	7,440,587	$	7,193,749
工业	2,260,130			2,131,738			6,711,579		6,328,048
北美总计	$	4,800,449			$	4,616,329		$	14,152,166	$	13,521,797
澳大利亚：
汽车	$	532,098			$	484,637		$	1,538,176	$	1,366,673
工业	148,467			138,706			425,013		395,721
澳大利亚总计	$	680,565			$	623,343		$	1,963,189	$	1,762,394
欧洲 – 汽车	$	1,040,294			$	1,020,560		$	3,207,844	$	3,006,535
总净销售额	$	6,521,308			$	6,260,232		$	19,323,199	$	18,290,726

3. 应收账款销售协议

根据我们的应收账款销售协议（“A/R销售协议”），我们持续将由我们及某些美国子公司产生的指定应收账款池出售给一个独立的破产隔离特殊目的实体（“SPE”）。2026年1月2日，我们修订了A/R销售协议，将设施容量从10亿美元增加到12.5亿美元，并将协议的到期日延长至2027年1月8日。因此，我们在2026年第一季度获得了约2.5亿美元的经营现金流收益。

我们继续通过提供收款服务参与SPE向非关联金融机构转让的应收账款。当收到已售应收账款的现金时，SPE会持续将新符合条件的应收账款的所有权和控制权转移给非关联金融机构，以确保任何时候已售应收账款的总本金金额不超过12.5亿美元（这是A/R销售协议允许的最大金额）。

截至2026年9月30日和2025年12月31日，已售应收账款的本金总额分别约为12.5亿美元和10亿美元。截至2026年9月30日和2025年12月31日，作为抵押品的应收账款金额分别约为16亿美元和15亿美元。

下表总结了截至以下日期的A/R销售协议下的活动和未结金额：


	截至9月30日的三个月		截至9月30日的九个月
（以千为单位）	2026		2025	2026		2025
已售予金融机构并终止确认的应收账款	$	2,583,381		$	2,080,791		$	7,201,058	$	6,290,194
已售应收账款的现金回收	$	2,583,379		$	2,080,791		$	6,951,071	$	6,290,181

与A/R销售协议相关的持续现金活动反映在合并现金流量表中的经营活动中产生的净现金。SPE因应收账款销售交易向非关联金融机构支付费用。这些费用分别为截至2026年9月30日的九个月和2025年9月30日的九个月的3600万美元和3900万美元，并记录在合并损益表中的其他非经营性费用（收入）中。SPE有追索义务，如果由于某些事件（包括信用质量下降和客户销售退回）导致之前出售的应收账款未被收回，SPE需从非关联金融机构回购这些应收账款。截至2026年9月30日和2025年12月31日，针对该追索义务确认的准备金并不重大。由于应收账款背后的客户质量较高且预计回收期较短，我们提供收款服务相关的服务负债也不重大。

4. 债务

无担保循环信贷额度

2020年10月30日，我们签订了一份15亿美元的银团贷款协议（经修订后称为“无担保循环信用额度”）。2025年3月20日，我们修订了无担保循环信用额度，将借款额度从15亿美元扩大至20亿美元，并将到期日延长至2030年3月20日。截至2026年9月30日，无担保循环信用额度下没有未偿还借款，而截至2025年12月31日，未偿还借款为6亿美元。

定期贷款A计划

2026年4月28日，我们修订了无担保循环信用额度，设立初始定期贷款A计划，总额为5亿美元，以及一笔延期提款定期贷款计划，总额为5亿美元（统称为“定期贷款A计划”）。定期贷款A计划于2027年10月28日到期。截至2026年9月30日，定期贷款A计划已全部提款，未偿还总额为10亿美元。

商业票据计划

2023年11月29日，我们建立了商业票据计划，允许我们发行最高达15亿美元的无担保商业票据。我们于2025年3月27日修订了商业票据计划，将最大借款额度从15亿美元扩大至20亿美元。商业票据的到期日各不相同，但不得超过发行日起的364天。商业票据按照商业票据市场的一般条款出售，并与无担保和无优先级债务处于同等地位。票据按面值减去代表利息因素的折扣发行，或如果为计息票据，则按面值发行。截至2026年9月30日，我们的商业票据计划下有3.89亿美元未偿还，而截至2025年12月31日，未偿还借款为3.43亿美元，列示在简明合并资产负债表的短期借款中。

契约

某些借款要求我们遵守关于最大债务与息税折旧及摊销前利润（EBITDA）比率的财务契约。截至2026年9月30日，我们遵守了所有此类契约。

5. 收购

我们在2026年9月30日止九个月期间和2025年9月30日止九个月期间，分别以约8,200万美元和2.95亿美元收购了几家业务，其中包括某些非现金对价，并扣除了所收购的现金。对于每项收购，我们根据各自收购日的公允价值，将购买价格分配至所收购的资产和所承担的负债。我们在2026年9月30日止九个月期间记录了与收购相关的约4,400万美元商誉和其他无形资产。2026年9月30日止九个月期间，其他无形资产中价值1,700万美元的客户关系，其加权平均摊销期限为20年。被收购企业的经营成果自其各自收购日起包含在我们的简明合并损益表中。

2026年9月30日止九个月期间，我们记录了与收购相关的约4,400万美元商誉和其他无形资产。2026年9月30日止九个月期间，其他无形资产中价值1,700万美元的客户关系，其加权平均摊销期限为20年。被收购企业的经营成果自其各自收购日起包含在我们的简明合并损益表中。

6. 其他综合亏损累计额

以下表格展示了截至2026年9月30日止九个月期间，其他综合亏损按项目的变化情况：


	按项目列示的累计其他综合损益变动，税后
（以千为单位）	养老金及其他退休后福利		外币折算		总计
2026年1月1日的期初余额	$	(39,893)			$	(471,873)		$	(511,766)
重新分类前的其他综合收益（损失）	(4,555)			(2,693)			(7,248)
从累计其他综合收益中重新分类的金额	540			—			540
税后其他综合收益（损失）	(4,015)			(2,693)			(6,708)
2026年9月30日的期末余额	$	(43,908)			$	(474,566)		$	(518,474)


	按项目列示的累计其他综合损益变动，税后
（以千为单位）	养老金及其他退休后福利		外币折算		总计
2025年1月1日的期初余额	$	(581,000)			$	(680,743)		$	(1,261,743)
重新分类前的其他综合收益	—			171,353			171,353
从累计其他综合收益中重新分类的金额	11,048			—			11,048
税后其他综合收益	11,048			171,353			182,401
2025年9月30日的期末余额	$	(569,952)			$	(509,390)		$	(1,079,342)

通常，其他综合损益（AOCL）中的税项是根据现行税法税率确认的，并在与相关税前AOCL重新分类相同的期间内转入净利润。

7. 承诺与或有事项

法律事项

我们面临各种索赔和诉讼，主要发生在美国，以及全球范围内的监管程序。这些索赔和其他事项确认的负债是基于我们可获得的最佳信息和我们认为合理的假设。尽管任何类型的诉讼都包含一定程度的不确定性，但我们认为我们的保险覆盖范围以及我们对未决和合理预期索赔的辩护和最终解决不会对我们的业务、经营成果或财务状况产生重大不利影响。

与石棉相关的产品责任及保险应收款项

我们为与我们销售的含石棉刹车和摩擦产品（主要在1991年前销售）相关的可能且可估算的索赔和和解设立了负债。这些索赔和和解与我们的持续运营、创收活动和业务策略无关。

我们定期对石棉负债进行全面的法律审查。我们审查最近和历史索赔数据，包括（i）已提交的待决索赔数量，（ii）这些索赔的性质和类型（例如，疾病类型、原告类型、地理区域），（iii）解决待决索赔的成本，以及（iv）索赔提交率和解决索赔成本的趋势（统称为“索赔数据”）。我们在预测未来索赔趋势和索赔成本时，也会考虑常见石棉疾病的已知潜伏期。我们将索赔数据提供给一位具有确定索赔数据对未来索赔趋势和成本影响的专业精算师。

精算师协助我们估算未来索赔数量和解决待决和未来索赔的成本。我们利用此分析以基于风险-free利率的方式，使用与预期负债期限相匹配的货币资产市场数据推导出的风险-free利率，来制定我们可能负债的估算。

可能会出现影响我们对与石棉相关的产品责任的估计的情况，实际结果可能因不同的假设或条件而有所不同。这些发展包括但不限于（i）估计所依据的关键假设的重大变化，包括未来索赔的数量、这些索赔的性质和类型，以及解决索赔的平均成本；（ii）审判和上诉结果；（iii）适用于这些索赔的法律和程序；以及（iv）其他共同被告和保险公司的财务可行性。投诉几乎总是针对多个被告，而所指控的损害通常不会归因于个别被告，因此被告的责任份额可能取决于连带责任法，而该法律因州而异。我们的估计已受到不利通胀趋势、因新冠疫情法院关闭而积压的索赔以及不断变化的法律和产品责任环境的影响。

截至2026年9月30日，我们有3,741起待决的石棉诉讼案件。截至2026年9月30日，待决和未来索赔的准备金为2.81亿美元，这是我们在2.23亿美元至3.45亿美元计算范围内的最佳估计，使用5.29%的折现率进行折现。截至2025年12月31日，待决和未来索赔的准备金为3.17亿美元，这是我们在2.58亿美元至3.97亿美元计算范围内的最佳估计，使用4.18%的折现率进行折现。截至2026年9月30日和2025年12月31日，未折现的产品责任分别为3.62亿美元和3.98亿美元。就诉讼或承诺和或有事项而言，我们2025年年度报告（10-K表格）中披露的信息没有重大变化。

我们持有涵盖部分石棉和解及辩护费用的保险政策。我们每年都会进行一项保险耗尽研究，以模拟待决和未来索赔的预期回收金额，并根据这些回收金额的现值调整保险应收款余额。截至2026年9月30日和2025年12月31日，与待决和未来索赔相关的预计保险回收应收款分别为3,400万美元和3,800万美元。

环境负债

根据证券交易委员会（SEC）S-K条例第103项的要求，当政府机构是诉讼的一方且此类诉讼涉及我们合理认为将超过100万美元的适用阈值的潜在金钱处罚时，需要披露某些环境事项。根据这一阈值，本期间没有需要披露的环境事项。

关税

2026年2月20日，美国最高法院作出裁决，推翻了根据《国际紧急经济权力法》实施的关税。该裁决的财务影响仍需通过持续的行政程序来确定，包括美国海关与边境保护局（“CBP”）退款的范围和时间。作为进口商的我们，所承担的责任仅占我们总采购额的不到0.5%。裁决之后，我们提交了与这些关税相关的退款申请。截至2026年9月30日，所提交的申请和收到的退款对我们的合并财务报表没有重大影响。

8. 重组及其他费用

2024年2月，我们批准并启动了一项全球重组计划，旨在更好地调整我们的资产并进一步提高业务效率。该计划由我们的公司总部批准并提供资金，因此这些费用未分配到我们的各个业务部门。

截至2026年9月30日的九个月，我们发生了1.93亿美元和1.67亿美元的重组及其他费用。以下表格总结了与全球重组计划相关的活动。


（以千为单位）	遣散费及其他员工费用		其他重组费用 (1)		总计
2026年1月1日的负债	$	17,988			$	709		$	18,697
重组及其他费用	32,211			161,215			193,426
现金支付	(29,489)			(146,767)			(176,256)
非现金费用	—			(14,768)			(14,768)
汇率	(269)			(8)			(277)
2026年9月30日的负债	$	20,441			$	381		$	20,822

(1)金额包括专业费用、加速租金、设施关闭费用、搬迁费用和资产减值费用。金额不包括600万美元的非现金费用，该费用反映在与重组相关的设施整合过程中处理库存而非搬迁所产生的销售成本中。


（以千为单位）	遣散费及其他员工费用		其他重组费用 (1)		总计
2025年1月1日的负债	$	23,830			$	926		$	24,756
重组及其他费用	48,628			118,689			167,317
现金支付	(46,559)			(103,435)			(149,994)
非现金费用	—			(14,458)			(14,458)
汇率	1,846			41			1,887
2025年9月30日的负债	$	27,745			$	1,763		$	29,508

(1)金额包括专业费用、加速租金、设施关闭费用、搬迁费用和资产减值费用。

第2项：管理层讨论与分析财务状况和经营成果

以下讨论应结合本文中的未经审计的合并财务报表及附注，以及我们2025年12月31日止年度的年度报告10-K表格中包含的经审计的合并财务报表、附注、相关信息和管理层讨论与分析财务状况和经营成果一起阅读。截至2026年9月30日的三个月和九个月的经营成果不一定反映2026年12月31日止年度的经营成果。

前瞻性声明

Some statements in this report, as well as in other materials we file with the Securities and Exchange Commission (“SEC”), release to the public, or make available on our website, constitute forward-looking statements that are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements in the future tense and all statements accompanied by words such as “expect,” “likely,” “outlook,” “forecast,” “preliminary,” “would,” “could,” “should,” “position,” “will,” “project,” “intend,” “plan,” “on track,” “anticipate,” “to come,” “may,” “possible,” “assume,” or similar expressions are intended to identify such forward-looking statements. These forward-looking statements include our view of business and economic trends for the remainder of the year and our expectations regarding our ability to capitalize on these business and economic trends and our ability to successfully execute our strategic priorities, including our anticipated separation of Global Automotive and Global Industrial into two independent, publicly traded companies. Senior officers may also make verbal statements to analysts, investors, the media and others that are forward-looking.

We caution you that all forward-looking statements involve risks and uncertainties, and while we believe that our expectations for the future are reasonable in view of currently available information, you are cautioned not to place undue reliance on our forward-looking statements. Actual results or events may differ materially from those indicated as a result of various important factors. Such factors may include, among other things, changes in general economic conditions, including persistent inflation (including the direct and indirect impact of tariffs and retaliatory tariffs) or deflation, geopolitical uncertainty and unrest (including from the conflict involving the United States and Iran) and declining consumer confidence; our ability to successfully implement the separation of Global Automotive and Global Industrial and achieve the anticipated benefits of such transaction; volatility in oil prices; significant costs, such as elevated fuel and freight expenses; our ability to maintain compliance with our debt covenants; our ability to successfully integrate acquired businesses into our operations and to realize the anticipated synergies and benefits; our ability to successfully implement our business initiatives in our three business segments; slowing demand for our products; the ability to maintain favorable supplier arrangements and relationships; changes in national and international legislation or government regulations or policies, including changes to global trade regulations, environmental and social policy, infrastructure programs and privacy legislation and related uncertainties, and their impact to us, our suppliers and customers; changes in tax policies; volatile exchange rates; our ability to successfully attract and retain employees in the current labor market; uncertain credit markets and other macroeconomic conditions; competitive product, service and pricing pressures; failure or weakness in our disclosure controls and procedures and internal controls over financial reporting; the uncertainties and costs of litigation; public health emergencies, including the effects on the financial health of our business partners and customers, on supply chains and our suppliers, on vehicle miles driven as well as other metrics that affect our business, and on access to capital and liquidity provided by the financial and capital markets; disruptions caused by a failure or breach of our information systems; the success of our global restructuring efforts and the annualized cost savings arising therefrom, as well as other risks and uncertainties discussed in our 2025 Annual Report on Form 10-K and from time to time in our subsequent filings with the SEC.

Forward-looking statements speak only as of the date they are made, and we undertake no duty to update any forward-looking statements except as required by law. You are advised, however, to review any further disclosures we make on related subjects in our subsequent Forms 10-K, 10-Q, 8-K and other reports filed with the SEC.

Overview

Genuine Parts Company (\"GPC\") is a leading global service provider of automotive and industrial replacement parts and value-added solutions. We have a long history of growth and innovation dating back to our founding in Atlanta, Georgia, in 1928. Over nearly a century, we’ve built a reputation for delivering excellent customer service, profitable growth and strong cash flow generation.

For the nine months ended September 30, 2026, we conducted business in North America, Europe and Australasia from more than 10,800 locations. Our Automotive businesses operated in the U.S., Canada, France, the U.K., Ireland, Germany, Poland, the Netherlands, Belgium, Spain, Portugal, Australia and New Zealand and accounted for 63% of total revenues for the nine months ended September 30, 2026. Our Industrial business

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operated in the U.S., Canada, Mexico, Australia, New Zealand, Indonesia and Singapore and accounted for 37% of total revenues during this period.

We are focused on being the preferred employer, supplier, and partner while delivering value to our shareholders. This focus drives our strategic financial objectives which are growing revenue in excess of the market, improving operating margins, maintaining a healthy balance sheet, generating strong cash flows, and allocating capital effectively. As we look to the future, we are leaning into modernizing our supply chain and technology through digital innovation, and data-driven strategies to enhance our competitive edge. By optimizing supply chains and leveraging technology, we are empowering our teams with cutting-edge tools to continue our focus on delivering exceptional customer service and driving sustainable growth. At the heart of it all is our commitment to excellence, supported by a culture of continuous improvement and a legacy of strong leadership that has guided us for nearly a century.

Proposed Separation of Automotive and Industrial Businesses

On February 17, 2026, we announced our intention to separate the Company into two independent, publicly traded companies: one comprising our Automotive Parts Group (“Global Automotive”) and the other comprising our Industrial Parts Group (“Global Industrial”). The separation is targeted for completion in the first quarter of 2027, subject to certain customary and regulatory conditions.

Key Performance Indicators

We consider a variety of performance and financial measures in assessing our business, and the key performance indicators used to measure our results are Comparable Sales, Gross Profit and Gross Margin, Selling, Administrative and Other Expenses (\"SG&A\"), Segment EBITDA and Segment EBITDA Margin, and Net Income and EBITDA along with their adjusted measures. For more information regarding our key performance indicators please reference the Management’s Discussion and Analysis of Financial Condition and Results of Operations included in our Annual Report on Form 10-K for the year ended December 31, 2025.

Trends Affecting our Business

We are navigating through several external factors that create uncertainty and volatility in our operating results. These factors, and any changes to these factors, among others, could have a material adverse impact on customer behavior and our future operating results. For additional discussion regarding these external factors and other risks, refer to Risk Factors in Item 1A of Part I within our Annual Report on Form 10-K for the year ended December 31, 2025.

Middle East Geopolitical Developments

We are closely monitoring geopolitical tensions in the Middle East, including the ongoing conflict involving the United States and Iran, and related regional instability. The conflict has and could continue to lead to significant disruption of fuel and energy supplies and increases in global fuel prices, heightened inflationary pressures, disruptions in global supply chains and adverse impacts on customer spending patterns. While we have no operations in the Middle East, we did experience an increase in fuel and related supply chain costs attributable to the conflict, including higher freight costs, primarily in our International Automotive segment. We continue to evaluate and take actions to mitigate any impacts on our business, results of operations and financial condition. The ongoing effects of the conflict remain uncertain.

Tariffs and Other Trade Policy Matters

We continue to monitor the global trade environment, including tariffs on merchandise inventories sourced directly or indirectly from several countries, such as China, Canada, and Mexico, and their impact on our operations. During the nine months ended September 30, 2026, tariffs continued to drive higher product costs and customer pricing, impacting our gross margin and SG&A expenses. We continue to manage these challenges through strategic pricing and sourcing initiatives, leveraging global supplier relationships and technology tools.

On February 20, 2026, the U.S. Supreme Court issued a decision invalidating certain tariffs imposed under the International Emergency Economic Powers Act. The financial impact of this ruling remains subject to ongoing administrative processes, including the extent and timing of refunds from U.S. Customs and Border Protection (\"CBP\"). Our exposure as the importer of record represents less than 0.5% of our total purchases. Subsequent to the ruling, we submitted refund claims related to these tariffs. The claims submitted and refunds received through September 30, 2026 were not material to our condensed consolidated financial statements. While we continue to take steps to manage tariff-related cost pressures, these actions may not fully offset increased costs in future periods.

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Results of Operations

Our third quarter performance continued to reflect solid sales across our business segments and benefits from our global restructuring initiatives, despite a challenging operating environment. Net sales increased 4.2%, with comparable sales growth across all segments, along with contributions from acquisitions and foreign currency. During the third quarter, we incurred restructuring and other costs and costs associated with our planned separation, which contributed to a 0.8% decline in net income. Excluding these items, adjusted net income increased 3.8%, driven by higher gross profit from increased sales, pricing and sourcing initiatives, and benefits from our global restructuring program.

Our results of operations are summarized below for the three and nine months ended September 30, 2026 and 2025.


	Three Months Ended September 30,
	2026		2025
(in thousands)	$		% of Sales		$		% of Sales		$ Change		% Change
Net sales	$	6,521,308			100.0	%		$	6,260,232			100.0	%	$	261,076		4.2	%
Cost of goods sold	4,037,033			61.9	%		3,918,830			62.6	%		118,203		3.0	%
Gross profit	2,484,275			38.1	%		2,341,402			37.4	%		142,873		6.1	%
Operating expense:
Selling, administrative and other expenses	1,944,518			29.8	%		1,805,928			28.8	%		138,590		7.7	%
Depreciation and amortization	137,490			2.1	%		127,475			2.0	%		10,015		7.9	%
Provision for doubtful accounts	9,238			0.1	%		6,871			0.1	%		2,367		34.4	%
Restructuring and other costs	64,545			1.0	%		66,835			1.1	%		(2,290)		(3.4)	%
Total operating expense	2,155,791			33.1	%		2,007,109			32.1	%		148,682		7.4	%
Non-operating (income) expense:
Interest expense, net	45,970			0.7	%		40,342			0.6	%		5,628		14.0	%
Other	3,866			0.1	%		2,258			—	%		1,608		71.2	%
Total non-operating expense	49,836			0.8	%		42,600			0.7	%		7,236		17.0	%
Income before income taxes	278,648			4.3	%		291,693			4.7	%		(13,045)		(4.5)	%
Income taxes	54,201			0.8	%		65,522			1.0	%		(11,321)		(17.3)	%
Net income	$	224,447			3.4	%		$	226,171			3.6	%	$	(1,724)		(0.8)	%

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	Three Months Ended September 30,
(in thousands, except per share data)	2026		2025		$ Change	% Change
Diluted EPS	$	1.62		$	1.62	$	—	—	%
Adjusted diluted EPS	$	2.07		$	1.98	$	0.09	4.5	%
North America Automotive segment EBITDA	$	193,860		$	199,626	$	(5,766)	(2.9)	%
International Automotive segment EBITDA	$	141,394		$	135,078	$	6,316	4.7	%
Industrial segment EBITDA	$	316,927		$	285,015	$	31,912	11.2	%
Corporate EBITDA	$	(103,521)		$	(93,374)	$	(10,147)	10.9	%
Total adjusted EBITDA	$	548,660		$	526,345	$	22,315	4.2	%
North America Automotive segment EBITDA margin	7.6	%		8.0	%
International Automotive segment EBITDA margin	9.0	%		9.0	%
Industrial segment EBITDA margin	13.2	%		12.6	%
Corporate EBITDA margin	(1.6)	%		(1.5)	%
Total adjusted EBITDA margin	8.4	%		8.4	%


	Nine Months Ended September 30,
	2026		2025
(in thousands)	$		% of Sales		$		% of Sales		$ Change		% Change
Net sales	$	19,323,199			100.0	%		$	18,290,726			100.0	%	$	1,032,473		5.6	%
Cost of goods sold	12,029,253			62.3	%		11,451,252			62.6	%		578,001		5.0	%
Gross profit	7,293,946			37.7	%		6,839,474			37.4	%		454,472		6.6	%
Operating expense:
Selling, administrative and other expenses	5,718,856			29.6	%		5,286,802			28.9	%		432,054		8.2	%
Depreciation and amortization	403,234			2.1	%		365,928			2.0	%		37,306		10.2	%
Provision for doubtful accounts	27,339			0.1	%		20,351			0.1	%		6,988		34.3	%
Restructuring and other costs	193,426			1.0	%		167,317			0.9	%		26,109		15.6	%
Total operating expense	6,342,855			32.8	%		5,840,398			31.9	%		502,457		8.6	%
Non-operating (income) expense:
Interest expense, net	135,723			0.7	%		117,769			0.6	%		17,954		15.2	%
Other	(2,503)			—	%		(580)			—	%		(1,923)		331.6	%
Total non-operating expense	133,220			0.7	%		117,189			0.6	%		16,031		13.7	%
Income before income taxes	817,871			4.2	%		881,887			4.8	%		(64,016)		(7.3)	%
Income taxes	177,331			0.9	%		206,444			1.1	%		(29,113)		(14.1)	%
Net income	$	640,540			3.3	%		$	675,443			3.7	%	$	(34,903)		(5.2)	%

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	Nine Months Ended September 30,
(in thousands, except per share data)	2026		2025		$ Change		% Change
Diluted EPS	$	4.64			$	4.85		$	(0.21)	(4.3)	%
Adjusted diluted EPS	$	5.99			$	5.82		$	0.17	2.9	%
North America Automotive segment EBITDA	$	558,393			$	543,121		$	15,272	2.8	%
International Automotive segment EBITDA	$	436,230			$	415,082		$	21,148	5.1	%
Industrial segment EBITDA	$	947,494			$	851,865		$	95,629	11.2	%
Corporate EBITDA	$	(330,859)			$	(263,131)		$	(67,728)	25.7	%
Total adjusted EBITDA	$	1,611,258			$	1,546,937		$	64,321	4.2	%
North America Automotive segment EBITDA margin	7.5	%		7.5	%
International Automotive segment EBITDA margin	9.2	%		9.5	%
Industrial segment EBITDA margin	13.3	%		12.7	%
Corporate EBITDA margin	(1.7)	%		(1.4)	%
Total adjusted EBITDA margin	8.3	%		8.5	%

Net Sales

For the three months ended September 30, 2026, net sales increased 4.2% compared to 2025. The increase was driven by a 2.9% increase in comparable sales, a 0.9% benefit from acquisitions, and a 0.5% benefit from favorable impact of foreign currency and other.

For the nine months ended September 30, 2026, net sales increased 5.6% compared to 2025. We experienced a 2.9% increase in comparable sales, a 1.7% benefit from favorable impact of foreign currency and other, and a 1.1% benefit from acquisitions.

Our comparable sales growth in both periods reflected pricing benefits and gains from our strategic initiatives. We estimate that comparable sales for both periods benefited from approximately 2.5% of price inflation, including tariff related impacts.

North America Automotive

Net sales for the three months ended September 30, 2026, for North America Automotive were $2.5 billion, an increase of 2.2% from 2025. The increase is primarily attributable to a 1.7% increase in comparable sales and a 1.1% increase from acquisitions, offset by a 0.6% unfavorable impact of foreign currency and other.

Net sales for the nine months ended September 30, 2026, for North America Automotive were $7.4 billion, an increase of $247 million, or 3.4%, from 2025. The increase is primarily attributable to a 2.2% increase in comparable sales and a 1.3% increase from acquisitions. Impacts from foreign currency and other were relatively flat.

Our sales growth within North America Automotive reflected favorable execution in company-owned operations and strong contributions from our stores that were acquired over the last twelve months, which enhanced our ability to reach and serve our customers.

International Automotive

Net sales for the three months ended September 30, 2026 for International Automotive were $1.6 billion, an increase of 4.5% from 2025. The increase is attributable to a 1.7% increase from acquisitions, 1.7% favorable foreign exchange impact, and a 1.1% increase in comparable sales.

Net sales for the nine months ended September 30, 2026 for International Automotive were $4.7 billion, an increase of 8.5% from 2025. The increase is attributable to a 5.5% favorable foreign exchange impact, a 2.1% increase from acquisitions and a 0.9% increase in comparable sales.

Industrial

Net sales for the three months ended September 30, 2026 for Industrial were $2.4 billion, an increase of 6.1% compared to 2025. The increase in sales primarily reflects a 5.5% increase in comparable sales and a 0.5% favorable impact from foreign exchange.

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Net sales for the nine months ended September 30, 2026 for Industrial were $7.1 billion, an increase of 6.1% compared to 2025. The increase in sales primarily reflects a 5.1% increase in comparable sales and a 0.8% favorable impact from foreign exchange.

During the third quarter of 2026, economic activity in the U.S. manufacturing sector, measured by PMI, continued its run of expansion, with eight of the first nine months of 2026 reflecting expansion; supporting sales demand in our Industrial segment.

Gross Profit and Gross Margin

Gross profit increased $143 million, or 6.1%, with gross margin increasing approximately 70 basis points to 38.1% during the three months ended September 30, 2026, compared to the same prior year period. Gross profit increased $454 million, or 6.6%, with gross margin increasing approximately 30 basis points to 37.7% during the nine months ended September 30, 2026, compared to the same prior year period. The increases in gross profit are primarily driven by increased sales, and our margin expansion reflects our ongoing pricing and sourcing initiatives, partially offset by the impact of tariffs and Middle East conflict-driven inflation in product costs.

Selling, Administrative and Other Expenses

SG&A expenses increased $139 million, or 7.7%, during the three months ended September 30, 2026 compared to the same prior year period, and, as a percentage of sales, increased 100 basis points.

SG&A expenses increased $432 million, or 8.2%, during the nine months ended September 30, 2026 compared to the same prior year period, and, as a percentage of sales, increased 70 basis points.

SG&A expenses increased in both periods primarily due to higher salaries and wages, freight, healthcare, rent, and IT costs, as well as additional operating expenses associated with recent acquisitions. In addition, SG&A expenses increased due to foreign currency exchange impacts of approximately $10 million and $110 million for the three and nine months ended September 30, 2026, respectively. We also incurred costs of $21 million and $55 million related to the planned separation of our Global Automotive and Global Industrial businesses for the three and nine months ended September 30, 2026, respectively.

As a percentage of net sales, SG&A increased approximately 100 basis points for the three month period and approximately 70 basis points for the nine-month period primarily due to inflationary pressures on freight, healthcare, rent, ongoing planned investments in technology, and separation costs. Separation costs contributed 30 basis points of the SG&A increase as a percentage of net sales for the three and nine months ended September 30, 2026.

In response to ongoing inflationary cost pressures, during the nine months ended September 30, 2026, we continued our targeted cost-control initiatives, including reductions in discretionary travel and the strategic deferral of select technology and other projects.

Restructuring and Other Costs

As part of our global restructuring plan, which was approved and initiated in February 2024, we incurred $65 million and $193 million associated with facility closures and additional severance costs during the three and nine months ended September 30, 2026, respectively. For additional details, refer to the Restructuring and Other Costs Footnote in the Notes to Condensed Consolidated Financial Statements.

Depreciation and Amortization

Depreciation and amortization expenses increased $10 million and $37 million for the three and nine months ended September 30, 2026, respectively, related to planned investments in technology and supply chain initiatives.

Non-Operating Expenses and Income

We incurred $50 million in net non-operating expense during the third quarter of 2026, a $7 million change from $43 million in net non-operating expense in the prior year period. We incurred $133 million in net non-operating expense during the nine months ended September 30, 2026, a $16 million change from $117 million in net non-operating expense in the prior year period. This category primarily includes net interest expense, investment income, foreign currency gains and losses, and fees associated with our Accounts Receivable Sales Agreement (\"A/R Sales Agreement\").

Income Taxes

Our effective income tax rates were 19.5% and 22.5% for three months ended September 30, 2026 and 2025, respectively. Our effective income tax rates were 21.7% and 23.4% for nine months ended September 30, 2026 and

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2025, respectively. The rate decreases in both periods were primarily driven by renewable energy investments tax credits, tax benefits associated with foreign tax credits, as well as the impact of the mix of foreign and domestic income.

Net Income, Adjusted Net Income and Segment EBITDA

Net income was $224 million for the three months ended September 30, 2026, a decrease of 0.8% compared to $226 million during the third quarter of 2025. Diluted earnings per share (\"EPS\") was $1.62 for the third quarter of 2026, unchanged compared to $1.62 during the prior year period.

Net income was $641 million for the nine months ended September 30, 2026, a decrease of 5.2% compared to $675 million during the same prior year period. Diluted earnings per share (\"EPS\") was $4.64 for the nine months ended September 30, 2026, down 4.3% compared to $4.85 during the same prior year period.

The year over year declines in net income are primarily due to certain nonrecurring costs related to the planned separation of our Global Automotive and Global Industrial businesses, increased restructuring and other costs, and higher costs associated with the conflict in the Middle East. These were partially offset by gross profit increases from sales growth and pricing and sourcing initiatives, and benefits from our global restructuring program and cost actions, which are discussed above in more detail.

Adjusted net income was $286 million for the three months ended September 30, 2026, an increase of 3.8% compared to the same prior year period. On a per share basis, adjusted net income was $2.07, an increase of 4.5% compared to $1.98 in the same prior year period. Adjusted net income was $827 million for the nine months ended September 30, 2026, an increase of 2.0% compared to the same prior year period. On a per share basis, adjusted net income was $5.99, an increase of 2.9% compared to $5.82 in the same prior year period. Adjusted net income increased in both periods primarily due to gross profit increases from sales growth, our pricing and sourcing initiatives, and benefits from our global restructuring program and cost actions, which are discussed above in more detail.

North America Automotive

North America Automotive EBITDA decreased $6 million, or 2.9% for the three months ended September 30, 2026, driven by the following factors. North America Automotive segment sales grew $56 million, or 2.2%, primarily driven by a 1.7% increase in comparable sales and a 1.1% benefit from acquisitions. Gross profit increased $20 million, or 2.1%, primarily driven by higher sales and benefits from our pricing and sourcing initiatives. Operating expenses increased $26 million due to continued inflationary pressures in freight, healthcare, wages and rent expenses. These cost pressures were partially offset by the continued benefits of our global restructuring and disciplined cost control initiatives.

North America Automotive EBITDA increased $15 million, or 2.8% for the nine months ended September 30, 2026 driven by the following factors. North America Automotive segment sales grew $247 million, or 3.4%, driven by a 2.2% increase in comparable sales and a 1.3% benefit from acquisitions. Gross profit increased $92 million or 3.3%, primarily due to higher sales and benefits from our pricing and sourcing initiatives. Operating expenses increased $77 million due to continued inflationary pressures in freight, healthcare, wages and rent expenses. These cost pressures were partially offset by the continued benefits of our global restructuring and disciplined cost control initiatives.

For the three months ended September 30, 2026, EBITDA margin decreased 40 basis points to 7.6% from 8.0% compared to the prior year period. Our margin compression was largely driven by continued inflationary pressures and incremental expenses associated with acquired businesses, coupled with slight contraction in gross margin, primarily due to the impact of businesses acquired after the third quarter of 2025 that operate at slightly lower gross margins. For the nine months ended September 30, 2026, EBITDA margin was flat at 7.5% compared to the prior year period.

International Automotive

International Automotive EBITDA increased $6 million, or 4.7% for the three months ended September 30, 2026 driven by the following factors. International Automotive segment sales grew $67 million, or 4.5%, driven by a 1.7% benefit from favorable foreign currency exchange and a 1.7% contribution from acquisitions, and a 1.1% increase in comparable sales. Gross profit increased $52 million, or 7.6%, primarily impacted by higher sales and the positive impact on our pricing and sourcing initiatives. Operating expenses increased $46 million due to continued inflationary pressures impacting personnel costs, rent and freight. These cost pressures were partially offset by the continued benefits of our global restructuring and disciplined cost control initiatives.

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International Automotive EBITDA increased $21 million, or 5.1% for the nine months ended September 30, 2026 driven by the following factors. International Automotive segment sales grew $373 million, or 8.5%, driven by a 5.5% benefit from favorable foreign currency exchange, a 2.1% contribution from acquisitions, and a 0.9% increase in comparable sales. Gross profit increased $187 million, or 9.3%, in-line with the increase in sales. Operating expenses increased $165 million driven primarily by inflationary pressures impacting personnel costs, rent and freight. These cost pressures were partially offset by the continued benefits of our global restructuring and disciplined cost control initiatives.

For the three months ended September 30, 2026, EBITDA margin was flat at 9.0% compared to the prior year period. Our gross margin increased 130 basis points, primarily driven by higher sales and benefits from our pricing and sourcing initiatives. These gains were offset by higher fuel and freight costs associated with the conflict in the Middle East, which resulted in reduced expense leverage during the period.

For the nine months ended September 30, 2026, EBITDA margin decreased 30 basis points to 9.2% from 9.5% compared to the prior year period. The decline primarily reflects higher fuel and freight costs associated with the conflict in the Middle East, which resulted in reduced expense leverage during both periods. Our higher sales and benefits from our pricing and sourcing initiatives drove an increase of 40 basis points in gross margin that partially offset the increase in operating expenses.

Industrial

Industrial EBITDA increased $32 million, or 11.2%, for the three months ended September 30, 2026 driven by the following factors. Industrial segment sales increased by $138 million or 6.1%, for the three months ended September 30, 2026, primarily driven by a 5.5% increase in comparable sales and a 0.5% positive impact from foreign currency. Gross profit increased $71 million, or 10.4%, primarily driven by higher sales and benefits from our pricing and sourcing initiatives.

Industrial EBITDA increased $96 million, or 11.2%, for the nine months ended September 30, 2026 driven by the following factors. Industrial segment sales increased by $413 million, or 6.1%, for the nine months ended September 30, 2026, primarily driven by a 5.1% increase in comparable sales and a 0.8% positive impact from foreign currency. Gross profit increased $182 million, or 8.9%, primarily driven by higher sales and benefits from our pricing and sourcing initiatives.

For the three months ended September 30, 2026, EBITDA margin improved 60 basis points to 13.2% from 12.6% compared to the prior year period. For the nine months ended September 30, 2026, EBITDA margin improved 60 basis points to 13.3% from 12.7% compared to the prior year period. Our margin expansion in both periods was driven by the benefits our strategic pricing and sourcing initiatives which drove gross margin expansion of 120 and 80 basis points for the three and nine month periods, respectively, and the continued benefits of our global restructuring and disciplined cost control initiatives.

Corporate EBITDA and Other Segment Reconciling items

Corporate EBITDA primarily reflects costs related to our corporate headquarters' broad support to our business units and other costs that are managed centrally and not allocated to business segments. These include personnel and other costs for company-wide functions such as executive leadership, human resources, technology, cybersecurity, legal, corporate finance, internal audit, and risk management, as well as asbestos-related product liability costs and A/R Sales Agreement fees. Our operational objective is to maintain Corporate EBITDA within a range of 1.5% to 2.0% of net sales.

Corporate EBITDA amounted to losses of $104 million, or 1.6% of net sales, and $331 million, or 1.7% of net sales, for the three months ended September 30, 2026 and nine months ended September 30, 2026, respectively, compared to losses of $93 million, or 1.5% of net sales, and $263 million, or 1.4% of net sales, in the prior year periods. The increased losses were primarily driven by inflationary pressures impacting personnel costs and health insurance.

Other unallocated costs for both periods represent restructuring and other costs, separation costs, and acquisition and integration related costs and other. For the nine months ended September 30, 2026, we incurred $193 million of restructuring and other costs and $55 million of separation costs.

EBITDA

EBITDA was $462 million for the third quarter of 2026, an increase of 0.6% from $460 million during the same prior year period. Adjusted EBITDA was $549 million in the third quarter of 2026, an increase of 4.2% from $526 million during the same prior year period. The increase in adjusted EBITDA was primarily driven by improved segment operating performance and continued execution of strategic pricing, sourcing, and cost control initiatives.

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EBITDA was $1.4 billion for the nine months ended September 30, 2026, a decrease of 0.6% from $1.4 billion during the same prior year period. Adjusted EBITDA was $1.6 billion for the nine months ended September 30, 2026, an increase of 4.2% from $1.5 billion during the same prior year period. The increase in adjusted EBITDA reflects higher segment EBITDA across North America Automotive, International Automotive and Industrial, supported by comparable sales growth, acquisition contributions, strategic pricing actions and benefits from our global restructuring and cost initiatives.

Adjusted net income, adjusted diluted EPS, EBITDA and adjusted EBITDA are non-GAAP measures (see table below for reconciliations to the most directly comparable GAAP measures).

Non-GAAP Financial Measures

The following tables set forth reconciliations of net income and diluted EPS to adjusted net income and adjusted diluted EPS, respectively, to account for the impact of adjustments. We also include a reconciliation from net income to adjusted EBITDA. We believe that the presentation of adjusted net income, adjusted diluted EPS, and adjusted EBITDA, which are not calculated in accordance with GAAP, when considered together with the corresponding GAAP financial measures and the reconciliations to those measures, provide meaningful supplemental information to both management and investors that is indicative of our core operations. We consider these metrics useful to investors because they provide greater transparency into management’s view and assessment of our ongoing operating performance by removing items management believes are not representative of our operations and may distort our longer-term operating trends. For example, for the three and nine months ended September 30, 2026, certain of the non-GAAP metrics contained herein exclude costs relating to our global restructuring initiative, our planned separation and our acquisition and integration of acquired independent automotive stores, which are one-time events that do not recur in the ordinary course of business. We believe the non-GAAP metrics included herein also enhance the comparability of our results from period to period and with our competitors, as well as to show ongoing results from operations distinct from items that are infrequent or not associated with our core operations. We do not, nor do we suggest investors should, consider such non-GAAP financial measures in isolation from, or as a substitute for, GAAP financial information.


	Three Months Ended September 30,		Nine Months Ended September 30,
(in thousands)	2026		2025		2026		2025
GAAP net income	$	224,447			$	226,171		$	640,540	$	675,443

Adjustments:
Restructuring and other costs (1)	64,545			66,835			193,426		167,317
Separation costs (2)	21,204			—			54,912		—
Acquisition and integration related costs and other (3)	803			—			6,092		14,035
Total adjustments	86,552			66,835			254,430		181,352
Tax impact of adjustments (4)	(25,053)			(17,411)			(68,239)		(46,340)
Adjusted net income	$	285,946			$	275,595		$	826,731	$	810,455

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The table below represents amounts per common share assuming dilution:


	Three Months Ended September 30,		Nine Months Ended September 30,
(in thousands, except per share data)	2026		2025		2026		2025
GAAP diluted earnings per share	$	1.62			$	1.62		$	4.64	$	4.85

Adjustments:
Restructuring and other costs (1)	0.47			0.48			1.40		1.20
Separation costs (2)	0.15			—			0.40		—
Acquisition and integration related costs and other (3)	0.01			—			0.04		0.10
Total adjustments	0.63			0.48			1.84		1.30
Tax impact of adjustments (4)	(0.18)			(0.12)			(0.49)		(0.33)
Adjusted diluted earnings per share	$	2.07			$	1.98		$	5.99	$	5.82
Weighted average common shares outstanding – assuming dilution	138,331			139,406			138,104		139,257

(1)Amount reflects costs related to our global restructuring initiative which includes employee severance and other termination benefits, and the rationalization and optimization of certain distribution centers, stores and other facilities.

(2)Amount primarily reflects legal and professional services and executive incentive plan costs related to the planned separation of our Global Automotive and Global Industrial businesses that was announced on February 17, 2026 and is targeted for completion in the first quarter of 2027.

(3)Amount primarily reflects lease and other exit costs related to the integration of acquired independent automotive stores.

(4)We determine the tax effect of non-GAAP adjustments by considering the tax laws and statutory income tax rates applicable in the tax jurisdictions of the underlying non-GAAP adjustments, including any related valuation allowances. For the three and nine months ended September 30, 2026, we applied the statutory income tax rates to the taxable portion of all of our adjustments, which resulted in a tax impact of $25 million and $68 million, respectively.

The table below represents a reconciliation from GAAP net income to adjusted EBITDA:


	Three Months Ended September 30,		Nine Months Ended September 30,
(in thousands)	2026		2025		2026		2025
GAAP net income	$	224,447			$	226,171		$	640,540	$	675,443
Depreciation and amortization	137,490			127,475			403,234		365,928
Interest expense, net	45,970			40,342			135,723		117,769
Income taxes	54,201			65,522			177,331		206,444
EBITDA	462,108			459,510			1,356,828		1,365,584
Total adjustments (1)	86,552			66,835			254,430		181,352
Adjusted EBITDA	$	548,660			$	526,345		$	1,611,258	$	1,546,936

(1)Amounts are the same as adjustments included within the adjusted net income table above.

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The table below clarifies where the adjusted items are presented in the Condensed Consolidated Statements of Income:


	Three Months Ended September 30,		Nine Months Ended September 30,
(in thousands)	2026		2025		2026		2025
Line item:
Cost of goods sold	$	803			$	—		$	6,092	$	—
Selling, administrative and other expenses	21,204			—			54,912		14,035
Restructuring and other costs	64,545			66,835			193,426		167,317
Total adjustments	$	86,552			$	66,835		$	254,430	$	181,352

FINANCIAL CONDITION, LIQUIDITY AND CAPITAL RESOURCES

Our financial position and cash flow performance have provided us with the capacity to invest in acquisitions, capital expenditures and technology to support our global growth strategy, as well as return value to our shareholders through dividends. Our sources of capital consist primarily of cash flows from operations, supplemented as necessary by issuing commercial paper, private and public issuances of debt and bank borrowings.

On February 17, 2026, we announced a 3.2% increase to our regular quarterly cash dividend. We have paid a cash dividend every year since going public in 1948, and 2026 marks the 70th consecutive year of increased dividends paid to shareholders.

Currently, we believe that our existing lines of credit, term loan A facilities, commercial paper program, and cash generated from operations will be sufficient to fund our operations for the foreseeable future, including working capital requirements, strategic acquisitions, dividends, share repurchases, capital expenditures, scheduled debt and interest payments, and income tax obligations.

Cash Flow Activity

For the nine months ended September 30, 2026, net cash provided by operating activities was $817 million. The increase in net cash provided by operating activities as compared to the prior year period is primarily driven by an improvement in working capital, partly offset by payments related to tax planning initiatives. We also had a $250 million benefit to operating cash flow from our A/R Sales Agreement. Changes in working capital can cause cash from operations to vary significantly period over period depending on factors such as the timing of customer payments, inventory purchases, vendor payments, tax payments, and fluctuations in foreign exchange rates.

During the nine months ended September 30, 2026, we continued to invest in our business through strategic acquisitions and capital expenditures to broaden our product and service offerings, improve our business operations and expand our global footprint. For the nine months ended September 30, 2026, we deployed $434 million for dividends, $314 million for capital expenditures, and $69 million for acquisitions. In addition, we had net proceeds of debt of approximately $338 million, which includes $45 million under our commercial paper program to support these investments.

A summary of our condensed consolidated statements of cash flows is as follows:


	Nine Months Ended September 30,
(In thousands)	2026		2025	$ Change		% Change
Operating activities	$	816,647		$	510,689		$	305,958	59.9	%
Investing activities	$	(361,076)		$	(487,951)		$	126,875	26.0	%
Financing activities	$	(139,033)		$	(93,717)		$	(45,316)	(48.4)	%

Liquidity and Capital Resources

Our liquidity is supported by cash generated from operating activities and available borrowings.

On April 28, 2026, we amended our existing Syndicated Facility Agreement to establish a Term Loan A Facility in an aggregate principal amount of $500 million and a Delayed Draw Term Loan Facility in an aggregate principal

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amount of $500 million, each maturing on October 28, 2027. As of September 30, 2026 both facilities were fully drawn.

As of September 30, 2026, total liquidity was $2.4 billion, consisting of $0.8 billion in cash, and $1.6 billion of available capacity under our $2.0 billion Unsecured Revolving Credit Facility, which reflects $389 million outstanding under our commercial paper program. From time to time, we may enter into other credit facilities or financing arrangements to provide additional liquidity and to manage against foreign currency risk.

At September 30, 2026, we had $5.1 billion of total debt outstanding. Approximately $1.2 billion of this debt includes unsecured Senior Notes which contain covenants related to a maximum debt to EBITDA ratio and certain limitations on additional borrowings.

Additionally, we have an A/R Sales Agreement to sell short-term receivables from certain customer trade accounts to unaffiliated financial institutions on a revolving basis. On January 2, 2026, we amended our A/R Sales Agreement to increase the facility capacity from $1 billion to $1.25 billion and extended the agreement's maturity through January 8, 2027. We also facilitate a voluntary supply chain finance program to provide certain of our suppliers with the opportunity to sell receivables due from us to participating financial institutions at the sole discretion of both the suppliers and the financial institutions. Refer to the Accounts Receivable Sales Agreement Footnote and the Supply Chain Finance Programs section within our General Footnote in the Notes to Condensed Consolidated Financial Statements for more information.

We expect to be able to continue to borrow funds at reasonable rates over the long term. At September 30, 2026, our total average cost of debt was 4.09%, and we remain in compliance with all covenants connected with our borrowings. Any failure to comply with our debt covenants or restrictions could result in a default under our financing arrangements or could require us to obtain waivers from our lenders for failure to comply with these restrictions. The occurrence of a default that remains uncured or the inability to secure a necessary consent or waiver could create cross defaults under other debt arrangements and have a material adverse effect on our business, financial condition, results of operations, and cash flows.

Item 3. Quantitative and Qualitative Disclosures about Market Risk

For quantitative and qualitative disclosures about market risk, refer to “Quantitative and Qualitative Disclosures About Market Risk” in Item 7A of Part II of our 2025 Annual Report on Form 10-K. Our exposure to market risk has not changed materially since December 31, 2025.

Item 4. Controls and Procedures

As of the end of the period covered by this report, an evaluation was performed under the supervision and with the participation of our management, including the Chief Executive Officer (“CEO”) and Chief Financial Officer (“CFO”), of the effectiveness of our disclosure controls and procedures. Based on that evaluation, our CEO and CFO concluded that our disclosure controls and procedures were effective as of the end of the period covered by this report to provide reasonable assurance that information required to be disclosed by us in the reports that we file or furnish under the Securities Exchange Act of 1934, as amended, is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms and that such information is accumulated and communicated to our management, including the CEO and CFO, as appropriate, to allow timely decisions regarding required disclosure.

Changes in Internal Control over Financial Reporting

There have been no changes in our internal control over financial reporting identified in connection with the evaluation required by paragraph (d) of Rule 13a-15 of the SEC that occurred during our last quarter ended September 30, 2026 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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PART II – OTHER INFORMATION

Item 1. Legal Proceedings

Information with respect to our legal proceedings may be found in the Commitments and Contingencies Footnote in the Notes to Condensed Consolidated Financial Statements in Item 1 of Part I, which is incorporated herein by reference.

Item 1A. Risk Factors

In addition to the other information set forth in this report, you should carefully consider the factors discussed in Part I, ITEM 1A, \"Risk Factors\", in our 2025 Annual Report on Form 10-K, which could materially affect our business, financial condition or future results. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may materially adversely affect our business, financial condition and/or operating results.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

The following table provides information about the purchases of shares of our common stock during the three months ended September 30, 2026:

ISSUER PURCHASES OF EQUITY SECURITIES


Period	Total Number of Shares Purchased (1)	Average Price Paid Per Share	Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (2)	Maximum Number of Shares That May Yet Be Purchased Under the Plans or Programs
July 1, 2026 through July 31, 2026	987	$126.89	—	7,452,811
August 1, 2026 through August 31, 2026	3,221	$131.74	—	7,452,811
September 1, 2026 through September 30, 2026	2,764	$136.77	—	7,452,811
Totals	6,972	$133.04	—	7,452,811

(1)Consists of shares surrendered by employees to satisfy tax withholding obligations in connection with the vesting of shares of restricted stock, the exercise of share appreciation rights and/or tax withholding obligations.

(2)On August 21, 2017, the Board of Directors announced that it had authorized the repurchase of 15 million shares. The authorization for the repurchase continues until all such shares have been repurchased or the repurchase plan is terminated by action of the Board of Directors. Approximately 7.5 million shares authorized remain available to be repurchased. There were no other repurchase plans announced as of September 30, 2026.

Item 5. Other Information

Rule 10b5-1 Trading Plans

During the quarter ended September 30, 2026, none of the Company’s directors or executive officers adopted, modified or terminated any contract, instruction or written plan for the purchase or sale of Company securities that was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) or any “non-Rule 10b5-1 trading arrangement.”

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Item 6. Exhibits

(a) The following exhibits are filed or furnished as part of this report:


Exhibit 3.1		Amended and Restated Articles of Incorporation of the Company, dated April 23, 2007 (incorporated herein by reference from Exhibit 3.1 to the Company’s Current Report on Form 8-K dated April 23, 2007)

Exhibit 3.2		By-Laws of the Company, as amended and restated November 19, 2018 (incorporated herein by reference from Exhibit 3.2 to the Company’s Current Report on Form 8-K dated November 19, 2018)

Exhibit 10.1*		Court Carruthers Offer Letter, dated August 28, 2026 (incorporated by reference from Exhibit 10.1 to the Company’s Current Report on Form 8-K dated September 9, 2026)

Exhibit 31.1		Certification pursuant to SEC Rule 13a-14(a) signed by the Chief Executive Officer – filed herewith

Exhibit 31.2		Certification pursuant to SEC Rule 13a-14(a) signed by the Chief Financial Officer – filed herewith

Exhibit 32		Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, signed by the Chief Executive Officer and Chief Financial Officer – furnished herewith

Exhibit 101.INS		XBRL Instance Document - The instance document does not appear in the interactive data file because its XBRL tags are embedded within the inline XBRL document.

Exhibit 101.SCH		XBRL Taxonomy Extension Schema Document

Exhibit 101.CAL		XBRL Taxonomy Extension Calculation Linkbase Document

Exhibit 101.DEF		XBRL Taxonomy Extension Definition Linkbase Document

Exhibit 101.LAB		XBRL Taxonomy Extension Labels Linkbase Document

Exhibit 101.PRE		XBRL Taxonomy Extension Presentation Linkbase Document

Exhibit 104		The cover page from this Quarterly Report on Form 10-Q for the period ended September 30, 2026 formatted in Inline XBRL

* Indicates management contracts and compensatory plans and arrangements.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.


		Genuine Parts Company (Registrant)

Date: October 20, 2026		/s/ Bert Nappier
		Bert Nappier
		Executive Vice President and Chief Financial and Operating Officer (Duly Authorized Officer and Principal Financial and Accounting Officer)

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