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Motion Industries, No. 6 on MDM’s 2014 list of the top 40 industrial distributors, reported sales for the second quarter of $1.2 billion, up 7 percent from the previous year, driven by a 3 percent contribution from acquisitions. Operating profit increased 7.4 percent to $95 million.
Parent company Genuine Parts Co. (NYSE: GPC), Atlanta, GA, reported sales for the second quarter of $3.9 billion, an increase of 6 percent compared to the prior year quarter. Profit decreased 9 percent to $197.7 million.
Sales in the second quarter for EIS, GPC's electrical/electronic group, increased 31.5 percent to $188 million, due primarily to contributions from acquisitions.
Sales for S. P. Richards, the office products group, increased 4.1 percent to $418 million.
Automotive sales increased 4.9 percent to $2.1 billion.
For the first six months of 2014, Genuine Parts reported sales of $7.5 billion, a 10 percent increase over the prior year period. Profit fell 1.5 percent to $355.2 million.
Sales for Motion Industries in the first six months increased 5 percent to $2.4 billion; EIS sales grew 30 percent to $368.4 million. Office products sales increased 1.8 percent, while automotive sales in the first half increased 13 percent.