The 2020 Mid-Year Economic Update_long

GPC Sales Up 3.5% in 2019

Motion Industries sales up 3.2% in 2019.

The Industrial Group of Genuine Parts Company, which includes Motion Industries, had sales of $1.5 billion for the fourth quarter of 2019, down 5.9% from the same period the previous year.

For the full year, sales for the Industrial Group of $6.5 billion increased 3.2% from $6.3 billion the previous year.

For Genuine Parts Company as a whole, sales for the fourth quarter were $4.7 billion, a 2.2% increase compared to $4.6 billion for the same period in 2018. Net income was $8.9 million.

Sales for the full year were $19.4 billion, a 3.5% increase compared to $18.7 billion for the same period in 2018. Net income for the year was $621.1 million.

''Our fourth quarter results were driven by total sales growth of approximately 7% excluding the impact of EIS, which we sold on September 30th. The quarter was highlighted by the continued improvement in gross margin, solid sales and operating results in our U.S. and Australasian automotive businesses and continued operating margin expansion in Industrial," said Paul Donahue, chairman and chief executive officer.

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