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GPC Reports Strong Q2

Genuine Parts Co. (NYSE: GPC), Atlanta, GA, reported second-quarter sales of $4.8 billion, up 17.6 percent compared to the second quarter of 2017. Profit was $227 million. Total sales for the second quarter included 3 percent comparable growth, 14 percent from acquisitions, including its 2017 fourth-quarter purchase of Alliance Automotive Group, and a 0.5 percent  benefit from foreign currency translation, the company said.

Second-quarter sales for GPC’s Automotive Group were up 27.7 percent; sales for its Industrial Group--which includes power transmission/motion control distributor Motion Industries--were up 8.7 percent; and sales for its Business Products Group were flat with the prior year quarter, the company reported. GPC plans to spin off its Business Products Group in a merger agreement with Essendant Inc., announced earlier this year.

GPC’s sales for the six months ended June 30, 2018 were $9.4 billion, a 17.5 percent  increase compared to $8 billion for the same period in 2017. Net income for the six months was $403.5 million.

 

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