Though comparable sales declined year-over-year, the gap narrowed sequentially as EBITDA margin had a considerable jump from 4Q.
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GPC’s 2024 results show overall sales growth driven by acquisitions and favorable currency impacts, while its industrial parts subsidiary, Motion, continues to face sales declines.
Year-over-year sales and profit continued to slide at Motion, reflecting challenges in the industrial sector.
Year-over-year sales and profit continued to slide at MRO supplies distributor Motion, though not as much as in 1Q.
Having retired at the end of May, Ted Cowie joins to reflect on evolving sales strategies during his four decades in the industry, particularly in his 10+ years at Motion.
Allied designs, makes and services industrial control panels, electro-mechanical assemblies, robotic automation and integrated solutions.
Motion continued to see sales growth and strong renewal rates with corporate account customers, which comprise about 45% of business.
James Howe, previously EVP, CCO and CTO, was promoted to President of power transmission and MRO supplies distributor Motion.
More than a handful of MDM’s Top Distributors were well-represented on the third annual feature.
It marks the first transaction for Motion since its landmark $1.2 billion buy of Kaman Distribution Group at the start of 2022.
The restructuring includes a voluntary retirement offer and "rationalization and optimization" of certain DCs, stores and other facilities.
Chris Cleland will lead Motion’s strategy development for its business groups, eCommerce and digital teams.
Derived from COO Joe Limbaugh’s fireside session at MDM’s 2023 SHIFT Conference, we dive into Motion’s 5-year and ongoing organizational transformation.
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Sales for Genuine Parts Company's industrial segment were $2.2 billion, up 0.6% from the same period in 2022.
The industrial parts distributor's profit margin grew 190 bps year-over-year despite sales growth that was less than half that of 1Q.
Atlanta-based Genuine Parts Company's board appointed Darren Rebelez as a new independent director. GPC is the parent company of Motion.
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
