Revenue during the quarter grew 5.04 percent to $3,905.64 million from $3,718.27 million in the previous year period. Gross margin for the quarter contracted 11 basis points over the previous year period to 29.59 percent. Total expenses were 93.76 percent of quarterly revenues, up from 93.37 percent for the same period last year. That has resulted in a contraction of 39 basis points in operating margin to 6.24 percent.

Operating income for the quarter was $243.78 million, compared with $246.64 million in the previous year period.

Paul Donahue, President and Chief Executive Officer, commented, "We are pleased that our total sales increase in the first quarter of 2017 represents positive sequential sales improvement and is our strongest quarterly growth since the fourth quarter of 2014. As a diversified global distributor, we benefited from strong total sales growth in our international automotive, industrial, electrical and office operations. The strength in these areas was partially offset by the headwinds in our U.S. automotive business, which we are working to overcome."

For financial year 2017, the company forecasts diluted earnings per share to be in the range of $4.75 to $4.85.

The company has spent $131.04 million cash to meet investing activities during the quarter as against cash outgo of $85.30 million in the last year period.

The company has spent $41.19 million cash to carry out financing activities during the quarter as against cash outgo of $64.47 million in the last year period.

Cash and cash equivalents stood at $177.92 million as on Mar. 31, 2017, down 13.27 percent or $27.22 million from $205.14 million on Mar. 31, 2016.

Debt increases substantially
Genuine Parts Company has witnessed an increase in total debt over the last one year. It stood at $1,025 million as on Mar. 31, 2017, up 46.43 percent or $325 million from $700 million on Mar. 31, 2016.