The industrial parts distributor's profit margin grew 190 bps year-over-year despite sales growth that was less than half that of 1Q.
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Atlanta-based Genuine Parts Company's board appointed Darren Rebelez as a new independent director. GPC is the parent company of Motion.
Current U.S. Automotive Group President Kevin Herron will retire at the end of 2023 after 34 years with the company.
Joe Limbaugh has been with Motion for nearly 40 years while James Howe recently celebrated 30 years with the MRO parts distributor.
Cummings takes over as CFO after Motion's previous CFO, Greg Cook, moved to Genuine Parts Company's U.S. Automotive Group.
Motion, Genuine Parts Company's industrial segment, achieved sales of $2.3 billion in 2023's first quarter.
GPC said it will use Cloud services to modernize digital, store, supply chain and advanced data platforms to enhance customer experience
Motion, Genuine Parts Company's industrial segment, achieved better than $8.4 billion in 2022 sales.
William P. Stengel will be President and Chief Operating Officer, and Christopher T. Galla will be Senior Vice President and General Counsel.
The new 105,000 square-foot facility features 55,000 more square feet over the old location, Motion said.
Mike Hockett analyzes the noticeably different levels of optimism in the commentary given by industrial distributors Fastenal and Motion in their third-quarter earnings calls.
Sales growth at Motion Industries narrowly outpaced that of 2Q, with organic sales driving the majority of it, alongside a continued boost from Kaman Distribution Group.
The MRO parts distributor said Lisa Solomon has been promoted to senior vice president of corporate accounts.
For the second quarter of 2022, Genuine Parts Company reported record sales of $5.6 billion, a 17% increase over the same period a year ago.
Mike Marks and Tom Gale explore the impact of recent landmark acquisitions and how the mission of strategic deals runs counter to that of private equity.
The company’s board of directors declared a regular quarterly cash dividend of $0.895 per share on common stock.
The company's 1Q earnings and subsequent commentary shed light on several other factors driving growth at the MRO parts distributor besides its recent $1.3 billion acquisition of Kaman Distribution Group.
Alliance Automotive Group, the company's wholly-owned automotive distribution company based in London, acquired Lausan.
Download MDM's M&A Report: Activity in all industries finished 2021 at record levels, with more than 5,000 deals completed in the fourth quarter alone.
Year-end reports of publicly traded distributors support Q4 Baird-MDM Quarterly Industrial Distribution Survey results. Public company commentary remains optimistic for strong year.
