Rick Perry quits Republican presidential race, backs Newt Gingrich

Texas Gov. Rick Perry quit his GOP bid for the White House Thursday.

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Texas Gov. Rick Perry quit the Republican race for the White House Thursday and threw his support to Newt Gingrich.

The move could give the ex-speaker, who is surging in the polls, a chance to defeat front-runner Mitt Romney in South Carolina’s primary on Saturday.

“I have no question that Newt Gingrich has the heart of a conservative reformer,” Perry said in his farewell speech in Charleston, S.C.

PHOTOS: CELBRITY PRESIDENTIAL ENDORSEMENTS

Perry gave his blessing despite questions — including a claim by Gingrich’s ex-wife that her spouse wanted an open marriage — swirling around the controversial Georgian.

“Newt is not perfect, but who among us is?” said Perry. “I believe in the power of redemption.”

The news capped off a brutal morning for Romney, who is battling controversies about his tax returns and offshore financial holdings — and who just found out that he actually lost the Iowa caucus.

The former Massachusetts governor, who is more moderate than most of his rivals, has benefited from the divided conservative field.

But as the right-wing field narrows, those conservative supporters could coalesce around one candidate, creating a formidable rival.

Perry, whose mistake-filled campaign never hit its stride, was polling in the single digits in South Carolina, so it’s not immediately clear how much of a benefit his endorsement will provide Gingrich.

But it could build momentum for the speaker, who may also siphon off supporters of former Pennsylvania senator Rick Santorum or win over some undecided voters.

When Perry entered the race in August, the Texas governor was immediately viewed as a GOP favorite because of his economic record in the Lone Star State and his strong fund-raising skills.

But his campaign stumbled out of the gate and was doomed by a series of poor debate performances, most infamously when he could not remember the name of the third Cabinet agency he wanted to close — and simply blurted out “Ooops.”

TIMELINE: A LOOK AT RICK PERRY'S QUICK RISE AND EVEN QUICKER FALL

“I know when it’s time to make a strategic retreat,” said Perry, whose defeats in the 2012 nomination fight were the first electoral losses of his career. “I believe the mission is greater than the man.”

In the last days of his campaign, Perry trained his fire on Romney, first attacking the front-runner’s time in the private sector and then hitting him on social issues so crucial in the conservative Palmetto State.

Romney rolled into South Carolina knowing that a win there could effectively lock up the nomination.

But his poll numbers have slipped as questions have been raised about the tax rate he pays and the millions of dollars he has invested in Caribbean bank accounts.

And early Thursday, the Iowa GOP party certified its official caucus results — and overturned Romney’s eight-vote margin.

Though the party refused to declare an official winner, it released results showing that Santorum had garnered more votes than Romney.