Genuine Parts Company (NYSE:GPC) is looking for M&A. Herbert Nappier Executive Vice President and Chief Financial Officer said during the first quarter 2024 earnings conference call that ?In 2024, we will continue our long history of balanced capital allocation with 4 priorities: capital expenditures, M&A, our dividend and share repurchases. For CapEx, we continue to expect approximately $500 million or 2% of revenue. As we look at 2024, the growth capital we are deploying, which is approximately 55% of our forecast, will drive modernization of our supply chain, including new DCs partnered with technology that enhances our customer experience.

As we look at M&A, our global pipeline remains robust, and we will remain disciplined in evaluating opportunities that create value, including continuing to pursue our strategy around stores at our U.S. Automotive business. With our strong balance sheet and cash flows, we are well positioned to take advantage of opportunities that fit with our long-term growth and strategies regardless of the economic backdrop?.